HomeWorld NewsThe Collapse Of Italy’s Banks Threatens To Plunge The European Financial System...

The Collapse Of Italy’s Banks Threatens To Plunge The European Financial System Into Chaos

The Italian banking system is a “leaning tower” that truly could completely collapse at literally any moment.  And as Italy’s banks begin to go down like dominoes, it is going to set off financial panic all over Europe unlike anything we have ever seen before.  I wrote about the troubles in Italy back in January, but since that time the crisis has escalated.  At this point, Italian banking stocks have declined a whopping 28 percent since the beginning of 2016, and when you look at some of the biggest Italian banks the numbers become even more frightening.  On Monday, shares of Monte dei Paschi were down 4.7 percent, and they have now plummeted 56 percent since the start of the year.  Shares of Carige were down 8 percent, and they have now plunged a total of 58 percent since the start of the year.  This is what a financial crisis looks like, and just like we are seeing in South America, the problems in Italy appear to be significantly accelerating.

So what makes Italy so important?

Well, we all saw how difficult it was for the rest of Europe to come up with a plan to rescue Greece.  But Greece is relatively small – they only have the 44th largest economy in the world.

The Italian economy is far larger.  Italy has the 8th largest economy in the world, and their government debt to GDP ratio is currently sitting at about 132 percent.

ECCONOMIC COLLAPSE NEWS REPORT HERE

CWW7NEWShttp://WWW.CWW7NEWS.ORG
Dina Amelia Kalmeta is the Founder and CEO of Your New Life in Christ Ministries - CWW7NEWS. Dina reports on world events as they pertain to Bible Prophecy. Before Your New Life in Christ Ministries, Dina served as a Leader for INCHRIST NETWORK leading teams online and spreading the Gospel of Jesus Christ. Her mission today is to bring hard evidence that what is taking place in the world isn't just coincidence, but indeed proof that the last days the Bible warned us about are upon us right now.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments