NEWS and COMMENTARY
The Deutsche Bank Death Watch Has Taken A Very Interesting Turn
by Michael Snyder via Zero Hedge
The biggest bank in Europe is in the process of imploding and there are persistent rumors that the final collapse could happen sooner rather than later.
Those that follow my work on a regular basis already know that this is a story that I have been following for years. Deutsche Bank is rapidly bleeding cash, they have been laying off thousands of workers and the vultures have been circling as company executives desperately try to implement a turnaround plan. Unfortunately for Deutsche Bank, it may already be too late. And if Deutsche Bank goes down, it will be even more catastrophic for the global financial system than the collapse of Lehman Brothers was in 2008.
Germany is the glue that is holding the EU together, and so if the bank that is right at the heart of Germany’s financial system collapses, the dominoes will likely start falling very rapidly.