Deutsche Bank calls for 150 Billion euro Bank bailout

The European banking system needs a €150 billion bailout according to Deutsche Bank's chief economist, David Folkerts-Landau.

According to Folkerts-Landau, Europe is extremely sick and must deal with its structural problems now or there is going to be a financial accident.

In the aftermath of Brexit Italian banks have come under considerable pressure and are reported to need a €360 billion bailout. So far Italian cries have fallen on deaf ears, as German politicians dismiss a taxpayer bailout.

Ironically the crisis has now spread to Germany. Last Thursday German Lender Breman Landesbank was reported to be on verge of collapse. The ECB is pushing the German lender to shore up its balance sheet to quickly stop the crisis spreading.

The Bloomberg Europe 500 Banks and Financial Index has plummeted 33% in 2016. Europe’s largest bank, Deutsche Bank, has retreated 48% over the same period.