von Greyertz: "Deflationary" Europe Can't Take Interest Rate Rise; Banks Still Unstable

``In Germany, Deutsche Bank, which has 50-times leverage, is also having problems.  Even in Sweden, whose economy is considered robust, they could not survive a major increase in interest rates.  The Swedes are borrowing more than most European countries in relation to their size... Germany has now approved bail-ins and the same is true for Canada.  We will soon see the return of the 2008-style crisis.  This time it will not be governments that will take the first hit, but bank depositors.  But eventually governments will have to step in since depositors funds will not cover the bank losses as the one quadrillion derivatives bubble explodes.''