Britalian

You are browsing the archives of 2008 October 07.

In the kind of statement that turns to folly days later, the CEO of Italy’s UniCredit has stated that “The Italian banking system is absolutely solid”.
So far Italy’s state within the current financial meltdown is unclear (as you might expect) but when a bank CEO comes out with such a statament, it raises more questions [...]

German Chancellor Angela Merkel came under fire over the weekend for telling German citizens that the government would secure their deposits.
She has now been forced into an embarrassing clarification and has stated that she did not mean the government would actually guarantee deposits but that the government had a political commitment to protecting investors.
So when [...]