Piers Morgan’s TV show is typically more of a sh*tshow — a foursome of guests and the host all shouting over each other like the television equivalent of monkeys hurling feces at one another. But there was a break in the inanity recently as British politician George Galloway rendered a monologue skewering NATO and the west’s intervention in Ukraine and the blood of a million Ukrainians supporters of the war like Morgan have on their hands.
globinfo freexchange Wolfgang Schäuble and the German leadership of the eurozone have good reasons to worry, maintaining an uncompromising attitude in the negotiations with Greece. But the repayment of Greek debt, which amounts to EUR 317 billion, is not one of the most important ones. The Greek debt is insignificant in comparison with the financial dynamite of the German (and other) banks, which in recent months gives more daily ignition signs. Only Deutsche Bank, the largest bank in Germany, is significantly exposed, holding dubious financial products known as "derivatives", worth 67 trillion euros. This amount is similar to the GDP of the entire world and 20 times greater than the GDP of Germany. Any comparison with the situation of the bank Lehman Brothers in 2008 would not be irrelevant. Just when Lehman Brothers went bankrupt, had available derivatives of only 31.5 trillion. The crisis of 2008 confirmed the concise definition of derivatives as proposed b...
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