Ο Ακκερμαν και ο Δρακος ( ΑΠΟΚΛΕΙΣΤΙΚΟ )

07:00 6/9/2011 - Πηγή: Olympia

Από τον Πόρτα – Πόρταο Ακκερμαν εξηγει ΣΗΜΕΡΑ….. Οτι λεμε 1.5 χρονο τωρα,ΠΠΤα βιντεο με αποσπασματα της Ομιλιας ειναι στα Γερμανικα.http://bcove.me/k77l8z8ohttp://bcove.me/c1e2xkvaDeutsche Bank CEO Just Gave A Terrifying Speech In FrankfurtJosef Ackermann just gave a terrifying speech about the fragility of the Euro

banking sector right now.At a conference in Frankfurt he said,“It is an open secret that numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels.”“Since the financial crisis, some European banks have lost a third or more of their market capitalization,” he said, according to Google Translate.“Most institutions have a rating of “below the book value or at best.”There are three major stress factors crushing Euro banks right now, he says: the debt crisis, structural factors and financial regulation. With them together, it will be hard for the European banks to increase their revenues.The implication is that not just Eurozone countries are buckling under the pressure of Greece’s, France’s, and Italy’s debts, but banks are too. It sounds like a desperate call for a bailout. Now.The situation looks dire. He says, “Many countries and households would have to reduce their debt. The mortgage business and consumer loans were [the few things] driving growth. In addition, there’s the problem of shrinking populations in several European countries, which negatively affects the growth of credit markets.”“The costs of supporting weak member states, particularly from the German perspective, are less than the costs of disintegration.““It is a dangerous illusion to believe that a country could do better should it reclaim the sovereignty it has delegated to the EU.”“All this reminds one of the autumn of 2008,” said Ackermann. ”We should resign ourselves to the fact that the ‘new normality’ is characterized by volatility and uncertainty.”Some hedge funds, like in 2007 and 2008, saw the enormity of the Eurozone debt crisis and began betting against Euro banks and other companies that have exposure to the crisis earlier this year. Their profits have already started to pay off.As for the rest of the financial industry, things don’t look good.Here’s what Ackermann sees: ”Prospects for the financial sector overall… are rather limited.”“We have a financial industry is still not really providing convincing answers to the questions about the meaningfulness of many modern financial products and trading in securities. The questions are getting louder and require new responses.”“The outlook for the future growth of revenues is limited by both the current situation and structurally.”“We must in my opinion, check all our work in all areas thoroughly again to ascertain whether we prioritize our genuine tasks as servants of the real economic needs.”And solutions to the Eurozone crisis and corresponding Euro banking crisis remain unsupported or nonexistent.Ackermann duly shot down one of the solutions suggested