First Italy, Now Portuguese Banks “Unexpectedly” Need A Taxpayer Bailout

“Portuguese banks, already undercapitalised and loaded with bad debt, are bracing for even more heavy losses from Lisbon’s so far unsuccessful attempts to sell Novo Banco.  Estimates of the potential bill facing banks, which finance the resolution fund that bailed out Novo Banco in 2014, range from €2.9bn to €3.9bn. Some bankers are even doubtful that the rescued lender will attract any acceptable offers, leading to its possible break-up or liquidation.  In a recent report, Barclays estimated that Portuguese lenders could need up to €7.5bn to resolve a ‘systemic banking crisis’ that was bringing the country under ‘close market scrutiny’.”

http://www.zerohedge.com/news/2016-07-24/first-italy-now-portuguese-banks-unexpectedly-need-taxpayer-bailout

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EU ‘Terrorism’ Directive Would Create Centralized Database of Bitcoin Users

“The European Commission – the executive arm of the European Union – has proposed a directive aimed preventing the use the financial system for terrorist financing which includes a central database for bitcoin and virtual currency users’ identities and wallet addresses accessible to government financial intelligence units (FIUs).  The proposal seeks to require member states to bring into force the regulations necessary to comply with this directive by Jan. 1, 2017.  The updated anti-money laundering rules adopted May of 2015 marked an important step to improve the effectiveness of EU attempts to combat money laundering from criminal activities and to fight financing terrorist activities, the proposal noted.”

https://www.cryptocoinsnews.com/eu-central-database-bitcoin-users/

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France descending into militarized state ruled by fear

“The State of Emergency declared after the November 13 atrocity was extended at the weekend by a further three months. Some 120,000 police and troops are now reportedly deployed across France, up from the already record high level of 115,000 security personnel on alert during the Euro 16 football championship. A further 12,000 police reservists are being called called up.  It is now routine to see armed soldiers patrolling among shoppers and cafe goers along French city streets. Citizens have to submit to random checks on their bags, body pat downs and metal detector arches as they enter public buildings.  There are even demands from Marine Le Pen, the National Front leader, for the return of compulsory national service.  Over the past year, thousands of French citizens have been arrested or had their homes raided by police without warrants. Some 20,000 people are said to be under surveillance by French authorities.  The State of Emergency has also seen the government banning public demonstrations against unpopular legislation to curtail workers’ rights. That unprecedented infringement on civil liberties has been justified as a necessary ‘national security’ measure to combat terror threats.  France has thus entered a permanent emergency state, marked by high levels of police powers and militarization of society, and the suspension of democratic rights and freedoms. This is merely a few degrees away from outright dictatorship.  The international aspect of the French government’s response is equally problematic. It has announced a stepwise increase in air strikes avowedly against terror groups in Syria and Iraq. French officials are reportedly traveling to Washington this week to coordinate greater military deployment in those two countries.  The French state, like its NATO partners, is plowing into a snake pit. The covert destabilizing of Syria (and Libya) for regime change involving the weaponization of terror proxies is a recipe for endless blowback. The subsequent ‘anti-terror’ bombing of Arab countries in flagrant violation of international law is a further foot into the snake pit.”

https://www.rt.com/op-edge/352041-france-militarized-dystopia-state/

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Austrian presidential election result overturned

“Freedom Party candidate, Norbert Hofer, lost the election to the former leader of the Greens, Alexander Van der Bellen, by just 30,863 votes or less than one percentage point.  The election will now be re-run.  If elected, Mr Hofer would become the first far-right head of state of an EU country.  His party has based its election campaigns around concern over immigration and falling living standards for the less well-off.  After Britain voted to leave the EU, Mr Hofer said he favoured holding a similar referendum in Austria if the bloc failed to stop centralisation and carry out reforms ‘within a year’.”

http://www.bbc.com/news/world-europe-36681475

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Balding French President Hollande Spends $132K on His Hair Yearly

“How could Olivier B, a hairstylist by trade, not feel affection for a man who’s been paying him nearly €10,000, or about $11,000, of French taxpayer money each month since he took office in 2012? It is not as though there is a tremendous amount of work to be done on Hollande’s fully receded hairline, with its stick-straight, easily-tamable short crop of soft-looking strands. But Olivier B has made work out of it, nonetheless.  That, apparently, is worth $132,000 a year, more than European parliament members make, and just about as much as French government ministers pull in. The average French person, by contrast, earns close to $41,000 a year, according to the O.E.C.D..”

http://www.vanityfair.com/news/2016/07/francois-hollande-haircut

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Bank Crisis Arrives: €29B Bremen Landesbank On The Verge Of Failure

“Germany’s Handelsblatt writes that ‘shipping loans have brought Bremer LB into distress and the bank can not survive without government help, but a direct capital injection from Lower Saxony now looks unlikely.’  The punchline, and where the narrative veers dramatically from the smooth sailing scenario presented last month by the FT, is that according to Lower Saxony President Stephen Weil, a capital increase by his state and Bremen for the ailing bank is currently not realistic. ‘The classic method, namely when partners provide the necessary capital, does not seem to work,’ the Prime Minister said to the ‘Weser-Kurier’.”

http://www.zerohedge.com/news/2016-07-07/europes-bank-crisis-arrives-germany-%E2%82%AC29-billion-bremen-landesbank-verge-failure

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Bancopalypse 2.0 Is Bigger

“Meanwhile in Italy, nearly the entire Italian banking system is rapidly sliding into insolvency.  Italian banks are sitting on over 360 billion euros in bad loans right now and are in desperate need of a massive bailout.  IMF calculations show that Italian banks’ capital levels are among the lowest in the world, just ahead of Bangladesh.  Spanish banks have been scrambling to raise billions in capital to cover persistent losses that still haven’t healed from the last crisis.  In Greece, over 35% of all loans in the banking system are classified as ‘non-performing.  The ratio of non-performing loans has actually been increasing for several years since the country’s supposed bailout.”

http://www.valuewalk.com/2016/07/deutsche-bank-scare/

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Deutsche Bank’s Chief Economist Calls For €150 Billion Bank Bailout

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“David Folkerts-Landau, the chief economist of Deutsche Bank, has called for a multi-billion dollar bailout for European banks.  Speaking to Germany’s Welt am Sonntag, the economist said European institutions should get fresh capital for a recapitalization following a similar bailout in the US. What he didn’t say is that the US bailout took place nearly a decade ago, in the meantime Europe’s financial sector was supposed to be fixed courtesy of ‘prudent’ fiscal and monetary policy. It wasn’t.  As Landau says the US helped its banks with $475 billion dollars, and such a program is now needed in Europe, especially for Italian banks.”

http://www.zerohedge.com/news/2016-07-10/deutsche-banks-chief-economist-calls-%E2%82%AC150-billion-bailout-european-banks

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Deutsche Bank May Be Top Contributor to Systemic Risk, IMF Says

“Concern over Frankfurt-based Deutsche Bank’s financial strength has weighed on the company’s stock and make it the worst-valued global lender.  ‘The relative importance of Deutsche Bank underscores the importance of risk management, intense supervision of G-SIBs and the close monitoring of their cross-border exposures, as well as rapidly completing capacity to implement the new resolution regime,’ the IMF said in the report.  Deutsche Bank currently exceeds its capital requirements and is shrinking its balance sheet to comply with regulations as they become stricter.”

http://www.bloomberg.com/news/articles/2016-06-30/deutsche-bank-may-be-top-contributor-to-systemic-risk-imf-says

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Majority of Dutch also want referendum on EU membership

“The majority of Dutch people want a referendum on whether or not the Netherlands should stay part of the European Union, like the Brits are doing later this week. In a poll by EenVandaag among 27 thousand people, 54 percent voted for a so-called Nexit referendum.  Should there be a referendum, the EU-opponents will only barely not have a majority – 48 percent think currently think that the Netherlands should leave the EU. 45 percent are for EU membership.  PVV voters are the biggest EU-opponents, with 94 percent being for a Nexit. 50Plus voters come in second place with 63 percent for and SP in third with 58 percent.”

http://www.nltimes.nl/2016/06/21/majority-dutch-also-want-referendum-eu-membership/

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