European banks are short of money by Zivka Deleva

The banking system in Europe is on stress test again. Due to the fall of the world stocks and the borrowing they must repay to the European Central Bank. We are talking about 100 billion euros and about the deadline – tomorrow!!! The banks had about one year to return the money, but it seems like huge number of them is not ready to do so. During the next month experts from the ECB are going to check out the banks liquidity and decide what to do with the indebted ones. The banks as well follow the principle of the nature, the stronger will survive. Almost each euro zone country is trying to give its best in improving the banking system, but it seems like the situation! is not so gay. No matter how much businessmen will want to invest, it is normal for them to be concerned whether they will put the money in the right bank. Due to the bad open on Wall Street, the U.S stocks went down more than 1 percent. And US biggest trade rival – China – marked even bigger – 4 percent fall. “Equity markets are weak, so there’s been a reasonably large reverse in risk-taking behavior. It’s been an amplified reaction, due to limited liquidity, and it will be difficult to tell how far the selling will extend” - said Daragh Maher, senior currency strategist at Credit Agricole. What a time we are living in, you can’t trust no one anymore, nothing is completely certain, everyday you get surprised from some or something. And I believe that people are more and more scared to put their money in savings-banks and the banks themselves. It seems like saving your money under the pillow like our ancestors did, is safer.!

by Zivka Deleva for Cantell TV (http://cantell.tv)

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