A bank, not in the PIIGSC (Portugal, Ireland, Italy, Greece, Spain, Cyrpus) is insolvent. It’s in Netherlands. So the government is taking it over.
Inflation is an expansion of counterfeit credit. Deflation, a forcible contraction of credit, is the inevitable consequence of inflation.
– goal is to “shore up confidence”
– Netherlands’ deficit was already noncompliant, now even worse
– collapse would have been too big, and hurt financial stability
– SNS gets €2.2B “capital injection” (free money), €1.1B loan
– the gov’t will guarantee €5B of its debts
– people will be be mad at use of public money, so other banks forced to contribute €1B
– €2.3B out of €9.8B loans are nonperforming–23 percent!
Trackbacks & Pingbacks
Its hard to find good help
I am forever proclaiming that its difficult to find good help, but here is
βαπτισης προσκλητηρια I always used to read post in news papers but now as I am a user of web thus from now I am using net for articles, thanks to web.
I always used to read post in news papers but now as I am a user of web thus from now I am using net for articles, thanks to web.
Leave a ReplyWant to join the discussion?
Feel free to contribute!