When you see one roach...
Selloff in European banks 'ominous'...
“The current environment for European banks is very, very bad. Over a full business cycle, I think it’s very questionable whether banks on average are able to cover their cost of equity.
The region’s banking gauge, the Stoxx Europe 600 Banks Index FX7, -2.86% has logged six straight weeks of declines, its longest weekly losing stretch since 2008, when banks booked 10 weeks of losses, beginning in May, according to FactSet data.
Russia's central bank said Monday it had revoked the licenses of two more banks as part of government efforts to consolidate the sector as economic troubles mount.
The Russian authorities have been trying to clear the banking sector of hundreds of fragile banks which are often found to employ doubtful or illegal practices.
The ruble's recent fall has exacerbated this, leading to dozens of bankruptcies in the sector.
Greek stock market meltdown...
Bank shares crashed on the Athens stock exchange Monday, losing a fifth of their value within hours, as the government was seen facing an impossible choice between further austerity and social unrest.
PRECIOUS-Gold hits new 3-month high on global economy concerns
Welcome to the new normal.
Edited by Rogerdodger, 08 February 2016 - 09:26 AM.
