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« Geithner Halts Payments To J.P. Morgan, BofA, Wells Fargo: 'All Need Substantial Improvement' | Main | "Less than a 3 percent drop in asset values could wipe out Wall Street" - Crisis Panel Says In Final Report »
Thursday
Jun092011

BOMBSHELL REPORT - European Central Bank Risks Being 'Bankrupted' By Bailouts: "If Assets Fall By Just 4.23%, Its Entire Capital Base Would Be Wiped Out"

This story sounds familiar...

Leverage is a cruel beast when your assets are collateralized junk from Greece, Ireland, Spain and Portugal.

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Source - UK Telegraph

The European Central Bank is "looking increasingly vulnerable" and may face "hefty losses" as a result of propping up indebted eurozone countries, a leading think-tank has warned.

The International Monetary Fund's partner in the recent international bail-out missions is itself in danger of becoming a liability, Open Europe has argued.

In a report published on Monday entitled A House Built on Sand?, Open Europe has calculated that the ECB has a total exposure of about €444bn (£397bn) to "struggling eurozone economies."

The bank is now "23 to 24 times levered" as a result of bailing out Greece, Ireland, Portugal and Spain.

Continue reading...

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Related reading...

"Less Than A 3 Percent Drop In Asset Values Could Wipe Out Wall Street" - Crisis Panel Says In Final Report

 

 

 

 

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Reader Comments (11)

Just like the Fed, the ECB's balance sheet is already "overburdened". They will go under and rise up again with a new world currency.
Jun 9, 2011 at 2:58 PM | Unregistered CommenterPG the PT
Nah...not yet...they will just print the shit out of the euro...they have a printing press just like bernanke... the euro won't disappear until the union falls apart...

'This is Ground Control to Major Tom'...countdown begins in 3, 2, 1...
Jun 9, 2011 at 3:03 PM | Registered CommenterDailyBail
The job isn't finished until the royal bling collectors and bankers have EVERYTHING on the front lawn with a For Sale sign on it. And some Chinese and India guys and everybody else looking for all the antiques and relics that disappeared long ago. The peace loving hard working citizens of the world deserve nothing less. As it looks to be heading with eyes and ears glued to CFR TV sets, it is going to be the disenfranchised alienated voting public (now hungry) sitting this one out and praying to the false gods for a miracle.
Jun 9, 2011 at 3:39 PM | Unregistered CommenterHoward T. Lewis III
Bilderberber...

How and when is Hillary going to attend?

My guess is late Saturday and Sunday.

Will we ever know...

http://www.suntimes.com/5761360-417/first-lady-michelle-obama-daughters-made-secret-trip-to-chicago.html

Where is Bill?
Jun 10, 2011 at 1:55 PM | Unregistered CommenterPG the PT
Sorry, that's Bilderberger...2011!
Jun 10, 2011 at 1:57 PM | Unregistered CommenterPG the PT
From you pals at the Business Insider...

Michael Bloomberg forced Anthony Weiner out of the 2009 mayoral race—before he'd even decided to run—by convincing the Queens congressman the mayor's re-election campaign had more dirt on him than it actually did, Harry Siegel of the Village Voice reports.

Hmmmm, makes you think who knows what about Barry and how are they using the info.

Will they go after Bloomberg? Ha, no. This is just going to become another Blago mess of liberal he said she said. Circle those wagons.
Jun 10, 2011 at 2:04 PM | Unregistered CommenterPG the PT
Bilderberg meeting is in full swing...

Sarah Palin emails get released...

Timing is everything. Keeping us busy so we don't become aware of what's really important.

Can't wait to see your many Palin articles DB.
Jun 10, 2011 at 2:10 PM | Unregistered CommenterPG the PT
I've heard Hillary has prepared herself for her first day at the IMF . She has developed a 'cheer for the debtor nations to motivate repayment of the fiat currency loans made worldwide.

Now, don't be late
and don't act lost,
or we'll do to you,
like we did to Foster!
Jun 10, 2011 at 2:20 PM | Unregistered CommenterHoward T. Lewis III
Can't wait to see your many Palin articles DB.

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not too interested in that story z...my work is done with palin...i don't worry about her much these days...she destroyed her political career herself by appearing on tv so much as a pundit these past 18 months...the people figured out that she's lacking a cerebellum and her numbers are WAY down as you know...
Jun 10, 2011 at 4:13 PM | Registered CommenterDailyBail
God I just wish that I could hold you to that. You will at least post a crazy hilarious Jon Leibowitz video talking about Palin.

I will be very impressed if you can keep to your word.
Jun 10, 2011 at 6:01 PM | Unregistered CommenterPG the PT
z...so why do you care so much about sarah...you've never explained your attraction to her candidacy...
Jun 11, 2011 at 12:14 PM | Registered CommenterDailyBail

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