Tuesday, September 13, 2011

Fears Of A Greek Default Are Ripping Through The European Banking Sector.

Emma McNamara

Greek default fears hits Europe and us - fears of a Greek default are ripping through the European banking sector and French bank shares were the main losers yesterday, with socgen dropping to a 20-year low. Its shares are now 70% lower than in February, largely because of its exposure to Greek debt. Meanwhile, in Greece there is growing unrest and unhappiness with new austerity measures announced at the weekend.

Mr. Forelle says the fact that us treasury secretary timothy Geithner is going to attend the ecofin meeting in Poland on Friday is a signal that the us is very worried that the situation in Europe is getting out of control. He says the risks inside the banking sector are not confined to Europe, but to banks globally. The us is afraid that the problems in Europe will spread to the us.


  1. This is my first post. I want to start a small group at my church using a book as a study guide to become better prepared for economic disaster.

    The premise being that if we 'the church' are prepared, then we will be able to reach out to our community to help those less prepared.

    Thank you,
    Louisville Kentucky

  2. I should have noted, can someone recommend a book that we can use as a study guide?
    Louisville, Kentucky

  3. Matrix of Power - Jordan Maxwell

  4. The best book I can recommend is "Surviving the Economic Collapse" by Fernando "Fer Fal" Aguirre.

    Probably one of the top selling survival books on Amazon for several years. It's real info from someone who already lived through it.

    -Not Sam


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