Bank Woes Deepening in Europe

Quote from Debaser82:

Belgium still has a 35% lower debt to GDP ratio today then during the early 90's.

This place is booming.:D
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it must be all those buns. to be fair when i emailed the ecb office a few months ago i got a response within a day and it was satisfactory. in contrast i have been dealing with the bank of england and the prime ministers office who take one month for a note and three to four for a longer response that is still unsatisfactory. it is as if they have messed it up so much they have just given up. the moral of the story if you live in the eu makes sure it is not england.
 
Quote from morganist:

..; if you live in the eu makes sure it is not england.
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england has in fact nothing to do with europe:

they drive on the wrong side of the road
they don't use kilos but pounds and stones
they have their own currency
.............
:D
 
Indeed, and while KBC is recovering, more than 30 banks were shut down this year in the US.
Instead of watching the others it would be better to watch their own shop.



Quote from Debaser82:

KBC up +60% since the article published.:)
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Quote from spike500:

Indeed, and while KBC is recovering, more than 30 banks were shut down this year in the US.
Instead of watching the others it would be better to watch their own shop.
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The US have added 111 financial institutions to the list of "problembanks" in the second quarter. The total of "problembanks" is now 416, the highest level for the last 15 years.

The FDIC (Federal Deposit Insurance Corp) has this year already closed 81 banks, from which 24 in the second quarter.

KBC is doing fine, from a low of 5.02 euro in april the stock went up to 26.82 today, up more than 400%. For the second quarter they announced a net profit of 302 million euro.
 
Quote from Ivanovich:

Yes, I'm sure everything is absolutely breathtaking in transparent Europe.

Watch this space.
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i agree the situation in europe is bad. i live in england. i don't believe all the propaganda they tell us about france and germany leaving recession.
 
Quote from spike500:The FDIC (Federal Deposit Insurance Corp) has this year already closed 81 banks, from which 24 in the second quarter.
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I'd say that's a distinct positive for the US. The US is addressing the problem via closure and reorganization. On the other hand, the European banks (club med) are in denial. They will sit on their junk debt for the next 10 years, crimping new loan growth.
 
Quote from Ivanovich:

Yes, I'm sure everything is absolutely breathtaking in transparent Europe.

Watch this space.
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It's a pity that americans are always so convinced of their supremacy, that they lose all objectiveness. They always want to be the biggest, the best, the smartest.....
This thread should have proven how bad the position of KBC was and the european banks in general. But the US keeps the record of number of banks in bankrupcy or in problems. But in this case they don't like being the record holder.

Sometimes the reaction from americans is pathetic. In reality nobody can always be the best, the biggest or the smartest. Every smart person knows that.


Yeah...... every smart person.
 
Quote from raker:

And we all trust Moody's and S&P rating agencies ..NOT !!!
These are the same idiots that gave those CDO's AAA ratings .I can not believe these rating agencies have come through this crisis relatively unscathed and no one has forcefully gone after them ...

I am pretty sure that a few years ago those same 30 banks went to Moodys and said hey can you rate these products and got good ratings and now Moodys are now issueing credit risk warnings on these same banks. [/B]
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+1

The ratings agencies are useless and criminal. What is even the point of them when you can't rely on their ratings.
 
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