26 Μαΐ 2015

τι θα έπρεπε



Όου ντήαρ...

 …The existing guarantee amount and mechanism provides strong asset protection and supports capitalisation through its embedded capital protection clause. However, if the full amount of EUR10bn is not approved by the EC, we believe HSH’s solvency would be threatened.
 ... Bluntly, if the EC eliminates the guarantees, HSH is dead.

But would the German government allow a Landesbank to fail? It spent a lot of money bailing out Landesbanken in the 2008 financial crisis and again in the Eurozone crisis of 2011. So far, it has not shown any inclination to go down the same route as the Austrian government, which has refused to support state-owned banks. Of course, if the EC disallows the guarantees, HSH is doomed: state aid rules will not permit the German government to bail it out. But if the EC allows the guarantees to stand, the German government faces a difficult choice. Providing sovereign backing for the guarantees would be unlikely to be acceptable to the EC. But if the federal government does not back the guarantees, regional government bankruptcy is a distinct possibility. Yet dismantling the guarantees would cause HSH to fail, sparking a forest of lawsuits. What to do?
forbes

Παρ' όλη την  ευφορία ο φόβος καιροφυλακτεί ...όπως συνήθως στις τραγωδίες...



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