Thursday, January 8, 2009

All Banks soon to be nationalised

Commerzbank is part nationalised

Commerzbank, Germany's second-biggest bank, has said it is to be partly nationalised, with the government taking a 25% stake, plus one share. The bank is to receive 10bn euros (£9bn; $13.7bn) in a second injection pf capital from the German banking sector stabilisation fund, Soffin. Commerzbank had been seeking help after its 5.1bn euro takeover of rival Dresdner Bank from insurer Allianz.

Posted by jack c @ 05:04 PM (621 views)
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2 thoughts on “All Banks soon to be nationalised

  • We are now beginning to see the carefully covered frailties within the strong eurozone gradually materialise. I put them a full year behind the UK in transparency,although they will catch up pretty quickly and all will be apparent within the coming year.This spells correction as far as the currency is concerned and I use the word “correction” as current euro value is incorrect,although now moving in the right direction. A real weakening of the currency is likey to see steep declines below the level of correction. Can’t wait!!!

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  • mark wadsworth says:

    Tacky, but somebody has to say it:

    “Ve haff vays of making you lend!”

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