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Thread: Boom vs Doom

  1. #1

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    Boom ™

    Business confidence on the up, Lloyds survey finds - BBC News

    Business confidence has jumped to an 18-month high, but companies are having trouble recruiting skilled workers, according to a survey.

    The Lloyds Bank Business in Britain report's confidence index rose to 24% - double the level immediately following the EU referendum last year.

    The index is a measure of expected sales, orders and profits.
    Doom ™

    Italy forced to bail out two more banks for 5.2bn euros - BBC News

    Italy's government is bailing out two banks in the Venice region at a cost of 5.2bn euros (£4.6bn; $5.8bn).

    The move comes two days after the European Central Bank warned that Banca Popolare di Vicenza and Veneto Banca were failing or likely to fail.

    The banks' "good" assets will be taken on by Intesa Sanpaolo banking group.

    Italian Prime Minister Paolo Gentiloni said the rescue was needed to protect savers and ensure "the good health of our banking system".

    The two banks' branches and employees will be part of Intesa by Monday morning in a move designed to avoid a potential run on deposits that could have spread to other Italian banks.

    Economy Minister Pier Carlo Padoan said Rome would also offer guarantees of up to 12bn euros for potential losses to Intesa from bad and risky loans.

    Sunday's rescue is the latest twist in the drive to fix the Italian banking system, which is saddled with bad loans worth about 350bn euros - a third of the eurozone's total bad debt.

    Sunday's announcement comes less than a month after Spain's Banco Popular was rescued by Santander.

    The European Central Bank said Banco Popular was "failing or likely to fail" due to its dwindling cash reserves.

    The bank has struggled after billions in property investments turned sour.

    The rescue will cost Santander about 7bn euros (£6.1bn).

    Sooooooooooooooooo glad we are leaving.
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  2. #2

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    Italy was able to bail those banks without printing a single note. How did they do that?
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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    Quote Originally Posted by scooterscot View Post
    Italy was able to bail those banks without printing a single note. How did they do that?
    Yeah, the ECB hasn't done a single € of QE have they?

    https://www.ecb.europa.eu/explainers...raphic.en.html



    You are such a dickhead.
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  4. #4

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    Quote Originally Posted by scooterscot View Post
    Italy was able to bail those banks without printing a single note. How did they do that?
    Because Italy doesn't have its own currency.

    The EU has some strict rules around using taxpayer money to rescue banks. The EU decided to ignore said rules to allow gov.it to bail out the banks. The EU elected not to ignore the rules when it came to a Spanish bank rescue.

    The difference being there is already 30% anti-Euro support in Italy, so the EU bent the rules to avoid this level of support going up.

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    Quote Originally Posted by scooterscot View Post
    Italy was able to bail those banks without printing a single note. How did they do that?
    Because we're going to pay them 50 Billion for leaving?
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  6. #6

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    You still not answered my question. How did ITALY bail out its banks?
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

  7. #7

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    Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

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    BlasterBates - scorchio!

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