2014 looks a scary year for EU banks
Next year EU banks will be subject to a ‘stress test’ to determine how they are faring since the economic collapse of EU. A number of reports are already indicating there will need to be considerable funds needed (Euro110b quoted) to build reserves to acceptable levels. Farcically this would be provided by Government who themselves borrow heavily off the very same banks. Last week too all 28 EU countries agreed on ‘bail in’ laws should banks fail with shareholders, bond holders and savings depositors being left to it – ala Cyrpus for every single country. So the desperate games with the Fiat currency escalate while real money (gold and silver) remains ‘on sale’. Go figure.