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Post by sevenofnine on Mar 24, 2023 11:30:09 GMT -5
Trouble with Donald Trump and Putin bank accounts HMMMMM!! LOL! Banks across the eurozone are resilient, stable and strong, European Union leaders insisted on Friday at the end of a two-day summit in Brussels. But their words stood in stark contrast with the harsh reality of the financial markets, where Deutsche Bank, Germany's largest lender, was suffering a precipitous decline in value, with its shares plunging by almost 15% during Friday's trading. The fall was credited to a rise in credit default swaps (CDSs), which reflect the insurance costs against a possible default on a bank's debt. Other European banks, including UBS, Commerzbank, Société Générale and BNP Paribas, were also affected by the turbulence, although to a lesser extent. Financial markets have been rocked by persistent turmoil since the collapse of Silicon Valley Bank, the biggest American bank to fall since 2008, and the government-brokered takeover of Credit Suisse earlier this month. www.euronews.com/my-europe/2023/03/24/eu-leaders-insist-eurozone-is-resilient-and-in-good-shape-as-deutsche-bank-shares-plunge
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