German banking crisis
Discussion
Not looking in Germany, perhaps those more with knowledge would comment.
http://www.euromoney.com/Article/3110692/Germany-E...
http://www.euromoney.com/Article/3110692/Germany-E...
Germany is carrying the debts of all the lazy and loser countries, like Ireland, Spain, Portugal, Italy, Greece, and Cyprus. The german taxpayer is footing the bill for the incompetencies of Miterand and Kohl forcing the Euro on us all, and binding in the lazies to bolster their Euro-centrist views.
The majority of Germans do not and did not want the euro, as all it is, was a gift to the lazy and scrounging socialist mediteranean countries. Why the f++k should hard working tax-paying people (whether in GB or D) support the lazy and lying med countries?
The majority of Germans do not and did not want the euro, as all it is, was a gift to the lazy and scrounging socialist mediteranean countries. Why the f++k should hard working tax-paying people (whether in GB or D) support the lazy and lying med countries?
muffinmenace said:
I just thought it was a very well hidden crisis!Did they top the league tables on a nominal basis or another (e.g. per capita or compared to GDP)? I can't get access to the data and that figure seems very small.
JMGS4 said:
Germany is carrying the debts of all the lazy and loser countries, like Ireland, Spain, Portugal, Italy, Greece, and Cyprus. The german taxpayer is footing the bill for the incompetencies of Miterand and Kohl forcing the Euro on us all, and binding in the lazies to bolster their Euro-centrist views.
The majority of Germans do not and did not want the euro, as all it is, was a gift to the lazy and scrounging socialist mediteranean countries. Why the f++k should hard working tax-paying people (whether in GB or D) support the lazy and lying med countries?
Don't forget that that is on top of one of the biggest Leveraged Buyout ever, namely that of East Germany. The majority of Germans do not and did not want the euro, as all it is, was a gift to the lazy and scrounging socialist mediteranean countries. Why the f++k should hard working tax-paying people (whether in GB or D) support the lazy and lying med countries?
pork911 said:
speedy_thrills said:
I just thought it was a very well hidden crisis!
i'm not a money guy but i thought its been pretty clear for a while??? - and not because of propping anyone up or anything else in the usual deep as a puddle general news coverage Here is an Ernst & Young report on NPLs in Germany:
"At the end of 2012, German banks held an estimated €200 billion of NPLs. This year, because of increased NPL sales activity and an improving Eurozone economy, the banks’ NPLs are expected to decline to €183 billion in 2013, according to the 2012–13 winter edition of the Ernst & Young Eurozone Forecast.39 But that would still leave a significant amount of NPLs weighing down the German banking system. Banks have been reluctant to sell NPLs partly because of the uncertainty created by the global financial crisis and Eurozone crisis of recent years. Furthermore, almost all German private banks and Landesbanken have been forced to deleverage and shrink their balance sheets to reach or maintain Basel III core capital ratios. In the course of deleveraging, banks have so far held on to their NPLs until investor pricing is more in line with bank carrying values.
While banks have refrained from selling NPLs, they have been working on improving their core capital ratios, gradually adjusting their loan book values to reflect investor pricing, and restoring or maintaining profitability. Most banks have set up internal restructuring units to work out or sell NPLs as well as dispose of non-core parts of their businesses. In addition, two German bad banks have been incorporated (FMS Wertmanagement and EAA). They hold assets transferred from Hypo Real Estate (FMS) and WestLB (EAA) to resolve large pools of non-core and non-performing assets over a 15- to 20-year period. Their strategy so far has been more focused on resolution solutions other than sales, although the bad banks are expected to become more active in selling non-core and nonperforming assets in the years to come.
In 2013, conditions could be more favorable for the sale of NPLs. The support of the European Central Bank for the Eurozone has calmed financial markets. Most banks are in the process of completing strategic realignments, while using the cheap liquidity provided by the central bank to improve profitability and core capital ratios. The value of the real estate collateralizing NPLs is increasing on the overall strength of German property markets. Germany is attracting more property investment from international and domestic investors seeking higher yields and a safe haven. The gap between NPL bid and ask prices could narrow if the strength of German banks and property markets gives investors confidence to pay higher prices for NPL portfolios.
In February 2013, Lloyds Bank of the UK sold the first sizable portfolio of non-performing loans secured by German retail real estate collateral. This transaction, with a face value of €850 million, drew a number of global investors who competed to secure the deal. While too soon to tell, this deal may come to be the icebreaker transaction that will motivate a large number of German banks to test the market for NPL sales."
So not a crisis really, but what about a comparison with the UK? Well in Germany 3% of loans are non-performing and in the UK 4%. Link to the data
Edited by speedy_thrills on Tuesday 21st May 09:50
Edited by speedy_thrills on Tuesday 21st May 09:50
speedy_thrills said:
pork911 said:
speedy_thrills said:
I just thought it was a very well hidden crisis!
i'm not a money guy but i thought its been pretty clear for a while??? - and not because of propping anyone up or anything else in the usual deep as a puddle general news coverage 
http://www.zerohedge.com/news/2013-04-29/728-trill...
JMGS4 said:
Germany is carrying the debts of all the lazy and loser countries, like Ireland, Spain, Portugal, Italy, Greece, and Cyprus. The german taxpayer is footing the bill for the incompetencies of Miterand and Kohl forcing the Euro on us all, and binding in the lazies to bolster their Euro-centrist views.
The majority of Germans do not and did not want the euro, as all it is, was a gift to the lazy and scrounging socialist mediteranean countries. Why the f++k should hard working tax-paying people (whether in GB or D) support the lazy and lying med countries?
Germany did rather well out of the Euro for a few years, all those cheap exports to the very countries you castigate. Given that they were pretty much the architects of the Euro, I think your analysis is simplistic in the extreme, not to mention your nasty generalisations. The mildly amusing inference that the Brits and Germans are hard working at least confirms your ignorance.The majority of Germans do not and did not want the euro, as all it is, was a gift to the lazy and scrounging socialist mediteranean countries. Why the f++k should hard working tax-paying people (whether in GB or D) support the lazy and lying med countries?
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff