Telegraph: Reports that a European Bank had to loan five hundred million dollars from the European Central Bank because it could not get a loan from the market. One can postulate that it’s a major French Bank but one must not discount an Italian Bank, banks in France and Italy have major Greek debt on their books. As stated in the Daily Mail last week the French Government is on standby to bailout out their banks. One would not be surprised if the Dow Jones in the USA went lower today due to the lack of direction from France and Germany when it comes to Euro bonds and that a major European Bank is in trouble. Even the ECB has its limits.
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