Italy Banking Crisis is Also a Huge Crime Scene

The problem is government; the problem is the banksters; and, the biggest problem is the imperial bar legal system; they all work for the 1% to enslave the 99%;

Maxim – Fraud in one thing, fraud in everything; in peace

sentinelblog

From Wolf Street, by Don Quijones

Toxic loans as a result of corruption, political kickbacks, fraud, and abuse.

The Bank of Italy’s Target 2 liabilities towards other Eurozone central banks — one of the most important indicators of banking stress — has risen by €129 billion in the last 12 months through November to €358.6 billion. That’s well above the €289 billion peak reached in August 2012 at the height of Europe’s sovereign debt crisis.

Foreign and local investors are dumping Italian government bonds and withdrawing their funding to Italian banks. The bank at the heart of Italy’s financial crisis, Monte dei Paschi di Siena (MPS), has bled €6 billion of “commercial direct deposits” between September 30 and December 13, €2 billion of which since December 4, the date of Italy’s constitutional referendum.

Italy’s new Prime Minister Paolo Gentiloni, who took over from Matteo Renzi after his defeat in the…

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