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Taxpayer owned as well, apparently. Going to do anything about it or just continue to moan: Royal Bank of Scotland to move hundreds of jobs to India - BBC News
Only 100 but it only takes a small hole to start a flood: Brexit: Japanese bank Nomura chooses Frankfurt for EU headquarters after UK's withdrawal | The Independent
It's grim up north: Bolton-based electrical firm AO World's pre-tax losses of £7 million after Brexit vote (From The Bolton News)
Barclays new office in Frankfurt ready for move in November 2017 - 2000 staff to go!
For every boom, there' a doom...Leave a comment:
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You still not answered my question. How did ITALY bail out its banks?Leave a comment:
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Because we're going to pay them 50 Billion for leaving?Originally posted by scooterscot View PostLeave a comment:
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Because Italy doesn't have its own currency.Originally posted by scooterscot View Post
The EU has some strict rules around using taxpayer money to rescue banks. The EU decided to ignore said rules to allow gov.it to bail out the banks. The EU elected not to ignore the rules when it came to a Spanish bank rescue.
The difference being there is already 30% anti-Euro support in Italy, so the EU bent the rules to avoid this level of support going up.Leave a comment:
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Yeah, the ECB hasn't done a single € of QE have they?Originally posted by scooterscot View Post
https://www.ecb.europa.eu/explainers...raphic.en.html
You are such a dickhead.Leave a comment:
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Italy was able to bail those banks without printing a single note. How did they do that?Leave a comment:
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Boom vs Doom
Boom ™
Business confidence on the up, Lloyds survey finds - BBC News
Doom ™Business confidence has jumped to an 18-month high, but companies are having trouble recruiting skilled workers, according to a survey.
The Lloyds Bank Business in Britain report's confidence index rose to 24% - double the level immediately following the EU referendum last year.
The index is a measure of expected sales, orders and profits.
Italy forced to bail out two more banks for 5.2bn euros - BBC News
Italy's government is bailing out two banks in the Venice region at a cost of 5.2bn euros (£4.6bn; $5.8bn).
The move comes two days after the European Central Bank warned that Banca Popolare di Vicenza and Veneto Banca were failing or likely to fail.
The banks' "good" assets will be taken on by Intesa Sanpaolo banking group.
Italian Prime Minister Paolo Gentiloni said the rescue was needed to protect savers and ensure "the good health of our banking system".
The two banks' branches and employees will be part of Intesa by Monday morning in a move designed to avoid a potential run on deposits that could have spread to other Italian banks.
Economy Minister Pier Carlo Padoan said Rome would also offer guarantees of up to 12bn euros for potential losses to Intesa from bad and risky loans.
Sunday's rescue is the latest twist in the drive to fix the Italian banking system, which is saddled with bad loans worth about 350bn euros - a third of the eurozone's total bad debt.
Sunday's announcement comes less than a month after Spain's Banco Popular was rescued by Santander.
The European Central Bank said Banco Popular was "failing or likely to fail" due to its dwindling cash reserves.
The bank has struggled after billions in property investments turned sour.
The rescue will cost Santander about 7bn euros (£6.1bn).
Sooooooooooooooooo glad we are leaving.
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