Atmosphere of economic fear: The whole Western world is under assault.

Greetings,

The whole Western world is under assault. Every Instrument and lever of power that they have wielded against others are now being destroyed. At the base of their power internationally was laid explosives that are detonating destroying their wealth, culture, influence, creativity, money markets, currencies, and militaries.

So strong is Allah’s love for us that He now desires nothing but a total destruction of America & the collapse of Europe. Their world is succumbing to the divine decree which brings forth their own corruption as a witness and a measurement of executor against them.

Know this, whether you will accept it or not, “These are the days of reckoning for the white race as their religious scholars and scientists agree.”–pg.225(tfoa)

Eurozone banks facing capital black hole: Analyst

A financial analyst warns that Eurozone banks are facing a capital black hole. (File photo)

A financial analyst warns that Eurozone banks are facing a capital black hole. (File photo)

A financial analyst has warned that Eurozone banks are facing a capital black hole of as much as €50 billion (£42 billion).

Davide Serra, the chief executive of investment group Algebris, said upcoming stress tests by the European Banking Authority (EBA) and the European Central Bank (ECB) will expose a number of problems at European banks, including a capital black hole, The Telegraph  reported on Saturday.

Serra also raised his concern over the issue that some three or four regional German banks may need to be wound up, while others in Greece and Portugal are likely to need extra capital.

“I expect more bad news coming out of Germany. The strongest German Panzer was unbeatable, but there is only one problem – they have one of the worst banking systems in the world,” he said.

The news comes a few months after members of the European Parliament overwhelmingly passed a new bill, allowing the ECB to supervise all the eurozone banks in an attempt to form a single banking framework for its members.

Despite the European Parliament vote in September last year, there are serious worries that the eurozone debt crisis – which has already resulted in bailouts for Greece, Ireland and Portugal – could also hit the far-larger economies in the 28-nation bloc.

The worsening debt crisis has forced the EU governments to adopt harsh austerity measures and tough economic reforms, triggering incidents of social unrest and massive protests in many European countries.

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