European Central Bank Turns Screws on Italian Bank
Just as the ECB was merciless on the Greek economy, now it has turned its wrath on the Italian bank MDS. By refusing an extension on a deadline, there is a good chance that those small retailers and investors will take a major hint. According to this article there is a good chance the crisis with MDS will spread to other banks in Italy because the banking system is so interdependent.
Image courtesy The Duran
About The Author
Barbara
Barbara MacLean has worked as an academic and career counselor at California State University, East Bay (CSUEB), Merritt and West Valley Colleges and as a career counselor and manager of the Oakland One Stop Career Center, a public career and jobs center in partnership with EDD. She is a co-founder and editor of Planning Beyond Capitalism.