<blockquote>'..doubt that European banks still had a viable business model.'
-
'Europe’s banks .. a “very fragile situation”..'</blockquote>
<blockquote>'..Monte dei Paschi, Italy’s third largest bank and oldest bank in the world is insolvent in any realistic scenario.
..
The Financial Times discusses the
Vanishing Market Value of European Banks.
“The key to us is understanding this is a profitability issue versus an insolvency issue,” says Hani Redha, a portfolio manager at PineBridge Investments, regarding the sector’s performance.”
I suggest (as does the market) the entire European banking system is on the verge of collapse.'
- Mike "Mish" Shedlock,
European Banking System on Verge of Collapse; Market Votes “No Confidence” in Italian Bank Rescue, August 2, 2016</blockquote>
Context (Banking Reform - English/Dutch) '..a truly stable financial and monetary system for the twenty-first century..'<blockquote>
'..the mismanagement and corruption of bankers and politicians in the 21st century.''Monte Paschi .. should be put into resolution, not bailed out.''..Like monetarists, Keynes held no capital theory .. the role time plays..' - Jesús Huerta de Soto</blockquote>