Italy's Unicredit and Germany's Deutsche Bank are slowly falling into the black holes being formed by negative interest rates in the European banking system.
This from Bloomberg yesterday.
http://www.bloomberg.com/news/artic...-ceo-ghizzoni-said-to-agree-to-leave-the-bank
Deutsche Bank's credit rating was cut to two notches above junk this week by Moody's.
http://www.*.com.au/deutsche-bank-downgraded-by-moodys-2016-5?r=US&IR=T
I also read on Monday that the bank has 8,000 litigation actions still outstanding.
https://global.handelsblatt.com/edi...article/legal-morass-deepens-at-deutsche-bank
Funnily enough that's the same number as the jobs they were considering cutting towards the end of last year.
Eshmun