Given the fact that banks value nearly halved in the last six months some not-so-golden-anymore boys start wondering how they are going to buy Christmas presents with no bonus in sight and probably worse things (i.e. job loss) to come.
Source & explanation:
Blue: Euro STOXX 60o Banks – Red: Standard & Poors 500
Given the fact that the Greeks started to cash out, and people in Italy, Spain, Portugal, Ireland and seemingly other countries in Europe follow suit, cash becomes spare.
Souce: Investor.com
What to do? Well there is Goldmann Boy Draghi – nowadays ECB president. He deserves a call. That is exactly what Credit Suisse did with a doomsayers report called <The “Last Days” of the Euro>. Threatening heavy consequences they ask for the equivalent of a monetary bazooka.
…to prevent the progressive closure of all the euro zone sovereign bond markets, potentially accompanied by escalating runs on even the strongest banks.
We’ll head for a turbulent Christmas period and a as turbulent new year, which is anyway the last to come by some accounts.
