Deutsche bank prepares for bankruptcy
Aug 17, 2016
As we approach the eighth anniversary of the collapse of Lehman Brothers (September 9-15, 2008), we are now likely to see a repeat performance in 2016, this time in Europe.
GERMANY'S largest bank has ADMITTED it is in "financial repression mode" as it desperately scrambles to implement financial buffers to prevent collapse.
The news comes as it was revealed the bank's profits dropped by 98 per cent last month and its share price reached lows not seen since before 2002.
Now Dominic Konstam, Deutsche Bank's global head of interest rates research, has issued a report that warned a "collapse in risk assets" could cause "panic"….
In July the bank's CEO John Cryan says the bank is preparing for restructuring amid concerns with its assets.