Interesting news from Europe today. It seems that most European nations do not quite have the robust deposit insurance that the United States government provides its citizens. In fact, some only insure deposits up to a measly twenty thousand euros.
That was then, this is now. Germany has announced it will be insuring all deposits of any amount. That of course has people worried that the Germans – as the financial and banking powerhouse of the European Union – might know something the rest of us don’t. Based on my reading of the article, it seems that the ripples of something really huge are beginning to show themselves in all quarters of the European Union. France, Germany, Italy, the UK and Spain all seem to be bracing for a big fall.
See? We do still have influence over world affairs. sheesh.