Do you think Merkel will intervene?
My best bet is yes, but only if the rescaling plans of firing 2/3rd of the employees and cutting away significant parts of the company fails miserably.It simply is such a massive and important bank for the Germans, but also for wider financial stability that they cannot afford to collapse.Especially with the experience of Lehman’s brothers collapsing and affecting the world economy and millions of lives.I think the most important job here is up to the ECB and whether the ECB decides to back it up.Apparently, the barrier to rescuing Lehman’s brothers was a legal issue. However, afaik there are not the same legal restrictions placed on the German federal government and the ECB that would prevent it from saving DB.
Chinese devaluation means the yuan is becoming relatively cheaper than the Dollar.This is caused by market manipulation that the Chinese government likes to do, rather than freely let the currency float (like the Euro or Dollar). This is to create the possibility for foreign nationals being able to import cheaply from China.That is what this currency devaluation does. Makes it cheaper for Americans to buy from the Chinese, which in essence increases the bilateral trade deficit between the US and China (which Trump actually wants to decrease). Additionally, this devaluation of course has a negative impact on American exports and employment
@tartaarsaus thanks for explaining!
@nerms123 no problem
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That's what I thought
does it affect your career in any way?
Can't answer that
Lehman’s brothers was also just an investment bank, but it collapsing caused a worldwide economic crisis.These things have a lot of collateral damage when they collapse
The last time a major investment bank like Deutsche Bank collapsed was in 2007 with Lehman’s Brothers.Pretty clear how terrible the outcome of that was
Banks have failed before
Yes. and there have been worldwide financial nosedives. just worried...
Yeah, me too
A huge German bank. It's on the verge of collapse.Thanks for answering :-)
Deutsche Banc is on the verge of collapse
Why's it collapsing?
Not sure exactly. They were gonna merge with Kommerzbank, which might have saved them, but the merger fell through.
Okay I'm confused. And I don't really care to be honest. Doesn't effect me. Lol
It was a major player in international money laundering. It got raided in 2018 by the German Government and hasn't recovered. As an investment prospect, it's full of radioactive anthrax mixed with radioactive HIV.
@HereIbe damn, dude. U don't exactly sugarcoat things lol.
Sugar coatings are for children.
@HereIbe not a very Jerbiton thing to say...
Ars Magica is just a game. The real world is the real world.
Deutsche Banc is collapsing
Capitalism is dying
And that's a good thing. It's time for the EU to be taken down a couple billion pegs.
Damn bruh lmao! Fr gonna be playing out like that
I've lived through every single financial "collapse" for decades, and NONE of them have managed to hurt me. But when rich people lose a couple of pennies, it's BOO HOO HOO, WHOLE WORLD IS GONNA END!
@HereIbe it's more than a couple pennies
So, what? I can't weep for rich people who become more like me.
@HereIbe like I told you once, it hurts to go from somebody holding a parasol over you so your skin doesn't burn to... well, not having that.
Boo fucking hoo for them. They EARNED the burn, in that case. THEY EARNED THE BURN! Boo fucking hoo for them, let them swivel on it.
@HereIbe I disagree, but ok
Thanks for entertaining me 😂
I get it, @PrincessGrail, you sympathize with slave owners.
@HereIbe I was being metaphorical in this case
And what’s that?
A huge German bank on the verge of collapse
Ah bankers. Good. Fuck em
Major disruption to the global financial system sort of is everyone problem 😅