European Financial Crisis
Deutsche Bank has a negligible exposure to Greece. Spain and Italy however account for a tenth of its European private and corporate banking business. According to the bank's own statistics the credit risks in these countries are about €18 billion (Italy) and €12 billion (Spain).
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Famous quotes containing the words european, financial and/or crisis:
“When the inhabitants of some sequestered island first descry the “big canoe” of the European rolling through the blue waters towards their shores, they rush down to the beach in crowds, and with open arms stand ready to embrace the strangers. Fatal embrace! They fold to their bosoms the vipers whose sting is destined to poison all their joys; and the instinctive feeling of love within their breasts is soon converted into the bitterest hate.”
—Herman Melville (1819–1891)
“A theory of the middle class: that it is not to be determined by its financial situation but rather by its relation to government. That is, one could shade down from an actual ruling or governing class to a class hopelessly out of relation to government, thinking of gov’t as beyond its control, of itself as wholly controlled by gov’t. Somewhere in between and in gradations is the group that has the sense that gov’t exists for it, and shapes its consciousness accordingly.”
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“We can’t afford the wrath of Heaven. We survived a deluge by the skin of our teeth, but an economic crisis would be disastrous.”
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