The magnificent seat of Banca Monte Dei Pashi in Piazza Salimbeni in Siena. Photo: Tango7174. License: CC BY-SA 4.0
Should the Italian banks with tax money "saved" will also be a rescue program for the political elites
Europe’s banks want again "Guard", As the writer Tom Hillenbrand formulated last week on Twitter: Occasion was an interview in the world on Sunday with David Folkers-Landau, the Chief Volkswirt of Deutsche Bank.
Folkers-Landau calls for a new bank bailout in which he may not be able to return to the rules introduced in recent years in recent years. These EU-wide rules suggest that banking rescue with tax money must make the shareholders and private creders of a failed financial institution with an extra contribution. Hold on these rules, the German Bank Chief Volkswirt will be delivered "Bank Run" in Italy.
A procedure, as required by Folkers-Landau, not only rule-irrigated, but also extremely unfair, because the Italian financial institutions who have led to nothing in recent years, but profits rather failed. And from the savers only such persons were used to rescue, which of a single bank more than 100.000 Euro entrusted – in times when on each account statement is that only up to 100.000 euros are secured, a very criminal recipient.
M5s in surveys equal with RENZIS PD
But even if only a few savers were affected, were negative press and one "Bank Run" a very possible consequence of the bankruptcy one or more financial institutions. If it comes to it, the Italian Wahler could take advantage of the segregation in the autumn in the fall, with which the Senate is to be dismissed and transformed into a community representative chamber, as an opportunity to bring about a rejection of new elections. Whether in these new elections then pro-EU parties receive a parliamentary majority is questionable:
Now Beppe Grillos M5s, which increased its share of votes within the last year of about 20 to about 30 percent, in surveys about approximately with Renzis Social Democratic PD. At third and fourth place followed with a good 13 percent of the managed Pro-European Berlusconi Party Forza Italia and the EU-Critical Lega North of Matteo Salvini, which also bears a Euro referendum like the M5S.
This not entirely unrealistic scenario was allowed to be a reason that the German Finance Minister Wolfgang Schalle his Italian counterpart Pier Carlo Padoan in terms of bank rescue "sufficient flexibility" ared. The other reason is probably the funds, the German and French banks have lent Italian banks and the Italian state, who could also come into payment difficulties in the event of an escalation of the banking crisis.
Overall, the lazy loans in the beers of Italian banks are scatuted to 360 billion euros. That was 18 percent of the complete loan portfolio. For comparison: In Germany, this share is about three and EU-wide at a good six percent. Probably most scrap papers have acquired the managers of the Banca Monte dei Pashi: with her 40 percent of all loans are lazy. Since other institutes so far no coarse interest in the purchase of such papers of the Banca Monte dei Pashi should now be stepped up the state.