Saturday, October 22, 2011

Europe's Large Banks - Are The Titans Crumbling?

Winds of confusion and despair swirl around Europe's largest banks. Bank stocks plunged sickeningly late last summer as the euro crisis worsened. Its been a skittish, rumor-driven market ever since.
Adding to the confusion Central banks (US Federal Reserve, European Central Bank, Bank of England, etc.), sovereign wealth funds, the International Monetary Fund (IMF) have all become involved. The European Financial Stability Fund (EFSF) is Europe's latest savior. Such an entanglement of financial entities. How can anyone know the truth?
Dexia (DXBGF.PK), previously Belgium's largest financial institution, has become the first (but probably not the last) casualty of the crisis. It is being nationalized.
Which institutions actually own European sovereign debt? Read more here