Post by Deleted on Jan 18, 2015 18:53:42 GMT -6
"The head of Russia's largest bank, German Gref, offered a bleak picture of the fate awaiting the country's banking sector in 2015 during the set piece Gaidar economic forum in Moscow this week."
"It's obvious that the banking crisis will be massive," the Sberbank chief told reporters."
"The state will capitalize the banks and increase its stake in them, and the banks will buy industrial enterprises and become financial-industrial groups," Gref said Wednesday. "All our economy will be state-run."
It appears no country is immune to financial problems.
"High interests rates — currently at 17 percent — and the pressures of a recession are already intensifying competition among banks for a shrinking pool of clients and good assets, while Western sanctions imposed for Russia's role in Ukraine restrict the ability of Russian banks to borrow abroad.
"
"We are already in a crisis," said Oleg Solntsev, the head of banking and monetary policy research at the Center of Macroeconomic Analysis and Short-term Forecasting in Moscow."
Two questions:
1. What happened to all the money worldwide?
2. Isn't it odd that these high level bankers are german?
We have more research to do here, but even China at this point is feeling economic pressure.
"It's obvious that the banking crisis will be massive," the Sberbank chief told reporters."
"The state will capitalize the banks and increase its stake in them, and the banks will buy industrial enterprises and become financial-industrial groups," Gref said Wednesday. "All our economy will be state-run."
It appears no country is immune to financial problems.
"High interests rates — currently at 17 percent — and the pressures of a recession are already intensifying competition among banks for a shrinking pool of clients and good assets, while Western sanctions imposed for Russia's role in Ukraine restrict the ability of Russian banks to borrow abroad.
"
"We are already in a crisis," said Oleg Solntsev, the head of banking and monetary policy research at the Center of Macroeconomic Analysis and Short-term Forecasting in Moscow."
Two questions:
1. What happened to all the money worldwide?
2. Isn't it odd that these high level bankers are german?
We have more research to do here, but even China at this point is feeling economic pressure.