Italian Bank Crisis as Harbinger of Things to Come

‘Growing problems in Europe banks, especially Italy, with $2 trillion and $400 billion in non-performing loans, respectively, is about to worsen as Brexit effects slowly take hold. Europe’s recent phony bank ‘stress tests’, underestimate the problem, but still show not only Italian banks, but UK (Barclays, RBS), France (SocGen), Ireland (Allied Irish), and even German (Deutsche, Commerz) all in increasing trouble.
Stress tests are designed not to show the full problem (Portugal, Greek and Cyprus banks are excluded, as just one example) so the problem is even worse than reported.’
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