In Italy, world’s oldest bank faces uncertain future

  •   The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Washington Post
September 2, 2012

SIENA, Italy — Tucked away in this Tuscan city, the oldest bank in the world has survived the Borgias, pestilence and too many wars to count. Now, a mundane foe has proved far more dangerous: Italian government debt.

The 540-year-old Monte dei Paschi Bank, Italy’s third-largest, is on the ropes as it struggles to deal with holdings of Italian bonds, once considered a prudent place to tuck cash.

The euro crisis upset that calculation. Across Europe, banks are confronting the same problem as seemingly safe bets that governments would repay their debts turned out to have been major gambles.

Read full article

This article was posted: Sunday, September 2, 2012 at 1:13 pm

Tags: , , ,







Infowars.com Videos:

Comment on this article

Comments are closed.


Watch the News

FEATURED VIDEOS
Harry Reid Blatantly Lies To America See the rest on the Alex Jones YouTube channel.

Smart Guns Endanger Children See the rest on the Alex Jones YouTube channel.

© 2013 Infowars.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.