Saturday, December 24, 2011

World banks brace for euro collapse


Banks are preparing for a possible euro collapse

Source: Press TV
http://www.presstv.ir/detail/217513.html

Banks around the world are preparing for the possible collapse of the euro as fears of the European debt crisis increase.

Several banks are even installing systems capable of coping with trading in old European currencies.

Meanwhile finance firms, corporations, and different governments have also turned to plans that aim at preparing them for harsh times.

Regulators have asked banks in the US and UK to provide updates on readiness levels in case of a possible euro collapse.

Some corporate firms have also started transferring their cash on a daily basis out of European countries, including debt-ridden Greece instead of once every two weeks.

Europe has for months grappled with an economic and financial crisis. Insolvency now threatens in-debt countries such as Greece, Portugal, Italy, Ireland and Spain.

Since its formation, the European Union had been a haven for those seeking refuge from war, persecution and poverty in other parts of the world.

The worsening debt crisis, however, has forced European governments to adopt harsh austerity measures and tough economic reforms. Tens of thousands of Europeans are migrating from their homelands as a result of these difficulties.

There are fears that more delays in resolving the eurozone debt crisis could push not only Europe, but also much of the rest of the Western world back into recession.

No comments:

Post a Comment

I'll be right with you.

Russia Today (Live)

World News 2017

Current Affairs - Important Interviews – 2017

Debate – Global Issues 2017

Important Information 2016 - 2017

South Front Military Review 2017

Syria - News 2017

Yemen News 2017

Turkey News 2017

Ukraine News 2016 - 2017

Palestine & Israeli Crime 2017

Iraq News 2017

Important Documentaries

Viewpoint, Discussion & Opinion - 2017

Abby Martin – Empire Files

US News 2017

Iran News 2016 - 2017

Global Economic News 2017

Egypt News 2016 - 2017

Libya News 2016 - 2017

Bahrain News 2016 - 2017

Sheik Imran Hosein - Islamic Eschatology

George Galloway – Comment & Opinion

The Words and Actions of Ken O'Keefe

English FA Cup 2016 – 2017

New Age Weather

Space News

Music for the Revolutionary Mind

Global Revolution LIVE!

Watch live streaming video from globalrevolution at livestream.com

Japan’s 3 Nuclear Meltdowns STILL ongoing (News Censored)