European Banks: The Mistrust Grows In Expectation Of The New Wave Of Crisis

Dr. Michael LaitmanIn the News (From “Against the background of the debt crisis in Europe is a growing distrust among banks. They borrow less money….

“The mistrust of banks taking each other for the assessment European Central Bank, given the debt crisis in Europe. ‘Banks prefer in certain regions of the euro area to its to deposit excess liquidity with the ECB, rather than to other Banks borrow,’ said ECB chief economist Juergen Stark to the ‘Handelsblatt’ in the Monday edition. ‘The signal we take seriously.’

“Alone between last Thursday and Friday, the offshore banks Stark’s statement after 90.5 billion euros at the ECB, rather than the money other banks to borrow. The situation was not yet comparable with the Situation in fall 2008. After the bankruptcy of U.S. investment bank Lehman Brothers was at that time the so-called interbank market, on which the Financial institutions provide liquidity to each other, in a state of shock fallen. The report shows that at times were in the € 200 billion ECB depot. ( / dpa)”

My Comment: Since increasing mutual dependence is manifested in the world, the alienation of the banks from each other will lead to the collapse of the whole system. However, namely because of this, from the realization of their death, they will understand that there is no other way out but connection in the form of “mutual guarantee.” Through these crises (sufferings), Nature (the Creator) will bring humanity to correction.

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