The forced collective suicide of European nations

Deutsche bank posts surprise loss.

Germany - Deutsche bank posted a surprise net loss of €2.2bn for the fourth quarter. Germany's biggest bank was hit by hefty litigation and restructuring charges as the bank slims down, in light of the changing investment banking environment. Deutsche is being investigated for alleged manipulation of benchmark interest rates. Today it announced €1bn in litigation charges in the fourth quarter, which it said reflected "adverse court rulings and developments in regulatory investigations". Co-chief executives Juergen Fitschen and Anshu Jain said: We embarked upon the path of deliberate but sometimes uncomfortable change in order to deliver long term, sustainable success for the bank. Simultaneously, we set the bank on course for fundamental cultural change. This journey will take years, not months. Last week Germany's second-biggest lender, Commerzbank said it was planning to cut as many as 6,000 jobs, or more than 10% of its workforce. Secret Monte dei Paschi document found in 14th-century palace. At the risk of sounding flippant, Italy's Monte dei Paschi scandal has to be one of the more colorful banking scandals. For a start, it deals with the world's oldest bank, established in 1472 to lend to "the poor or miserable or needy". Now it seems the secret document at the heart of the scandal lay for months in a concealed safe in a 14th-century Tuscan palace. Silvia Aloisi and Stefano Bernabei of Reuters report: Chief executive Fabrizio Viola said he learned about the safe's contents only last October, a full 10 months after he had been called in to sort out Italy's third biggest bank. The 2009 document revealing derivatives deals that have run up huge losses for Banca Monte dei Paschi (BMPS.MI) came to light in the office of Viola's predecessor at the bank's headquarters in Siena. 'The document was in a safe, moreover in an office that was no longer mine,' said Viola. 'I don't think that the person who put it there had been trying to hide it. But there is no doubt that the document had not been used in the bank's accounting.' The document found at the 540-year-old bank's head offices – which are appropriately in a restored ancient fortress – was a contract mandating Japanese bank Nomura to carry out deals on behalf of Monte dei Paschi.

Shimon Galon, the head of GTC Romania real estate developer, says the retail market is going to collapse unless the Government takes steps to make consumers start buying again, considering developers and retailers have already done all they could to attract clients. "Last year, everything stood still, this year started better, but after the Government's measures, buyers have been disappearing over the recent months. Some have run out of money, and those who still have money push it deeper in their pockets.
The change can only come from the Government. No private investor can make the market move again. Everything that was up to investors has been done: developers have offered smaller rents, retailers have offered discounts," stated Shimon Galon, CEO with GTC, a major developer domestically.The retail market has been the hardest hit after public workers' salaries were cut by 25% and the VAT was raised."On the retail market, the problem is simple. People will not buy, and retailers are not selling. (...) The number of visitors has risen, people are coming to malls, but are not buying. I cannot say I do not have retailers or visitors, but if we do not find a solution for people to start buying, the market is going to collapse," Galon said.sex,matures,mother,xhamster,adult,adulat video