Monday September 21, 2020

Banking is dead, long live banking

The slow death of the banking industry seems inevitable - but what may happen now is the birth of a fit-for-purpose alternative version, writes David McWilliams.

15th January, 2012
2
'The age of deleveraging means that the notion of safe jobs in the banking industry is over'.

The European debt crisis is moving swiftly to the next phase following the downgrade of France and the collapse of the Greek negotiations with its creditors last Friday night.

It is becoming increasingly obvious that there will be no deal in Greece. This is good news because it means the end of the pass-the-parcel-ponzi-scheme, whereby the bill for more and more institutional debt was passed on to more and more innocent people who had nothing...

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