Italian banks in serious trouble, EFD ready to attack

The Italian banking system is in serious trouble, and the failure of these four banks is simply the tip of the iceberg.

An Italian pensioner committed suicide this week. He hung himself after the Italian government’s rescue of small four banks wiped out his life savings. The bailout was carried out under the principles which governed Cyprus’ bailout. All of the stakeholders in the bank, including depositors, were at risk in the banks’ failure. These were small banks, so the reality of what was happening did not strike home immediately. This man’s suicide did. Italian consumer protection groups, Adusbef and Codacons, have demanded a criminal investigation into the case. This suicide and subsequent reaction by consumer defense groups mark the first glimmer of growing public concern over the security of bank deposits in Italy.

As tensions grow between Italy and the EU over the country's banking system, as well as the Italian government and domestic public pressure, conditions will come closer to realizing Geopolitical Future’s 2016 forecast of a banking crisis in Italy.

The Italian banking system is in serious trouble, and the failure of these four banks is simply the tip of the iceberg. Non-performing loans, loans that debtors are not paying off as agreed, but which have not yet been written off by the banks, have been rising. At this point 18 percent of all outstanding loans in Italy are non-performing. That is an extraordinarily high level, particularly when you consider that Italy is the eighth largest economy in the world and the fourth in Europe.

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Another chance for the European Financial Dictatorship to attack on Italy.

Coming:

Italy closer to the ECB trap