PhoenixAsh
11th October 2011, 09:42
Well...the European Dexia bank is going to get €90 billion ($120 billion) as part of an emergency bailout to recapitalise the bank.
Which is strange because three months ago the bank passed a stress test with flying colours. So somewhere they lost a shit load of money.
Now the money allows them to continue guaranteeing European bonds. And it enables the bank to cut both short term and long term spending by a grand total of €32 billion ($42 billion). It will alos give the bank a finance buffer.
Last year the bank issued millions of dollars in bonusses and also circumvented criticism on the bonusses by simply raising the paycheck of the top of the organisation by an avarage of €75.000 ($102.000). And in the most extreme cases by several hundreds of thousands dollars. Which seems to be a little strange. The top guy even gets a €200.000 every two months.
Now..this is part of an overall bail out strategy and defense against possible collapses from national economies in Greece, Italy and Portugal.
If, when, Greece defaults this is going to cost €300 billion dollars in "investments". And that will surely set of a chain reaction in other economically weak countries in Europe.
Which is strange because three months ago the bank passed a stress test with flying colours. So somewhere they lost a shit load of money.
Now the money allows them to continue guaranteeing European bonds. And it enables the bank to cut both short term and long term spending by a grand total of €32 billion ($42 billion). It will alos give the bank a finance buffer.
Last year the bank issued millions of dollars in bonusses and also circumvented criticism on the bonusses by simply raising the paycheck of the top of the organisation by an avarage of €75.000 ($102.000). And in the most extreme cases by several hundreds of thousands dollars. Which seems to be a little strange. The top guy even gets a €200.000 every two months.
Now..this is part of an overall bail out strategy and defense against possible collapses from national economies in Greece, Italy and Portugal.
If, when, Greece defaults this is going to cost €300 billion dollars in "investments". And that will surely set of a chain reaction in other economically weak countries in Europe.