Relevant:
- Beppe Grillo calls for nationalisation of Italian banks and exit from euro
- Southern Europe is on a precipice
- In Bleak Prognosis, Italy's Financial Regulator Threatens EU with Return to a "National Currency"
- Would Germany Bail Deutsche Bank Out?
- Trump's trade chief Navarro: Germany abusing euro for own gain
2016-03-03 — businessinsider.com.au
Friedman believes that the problems in the Italian banking system are going to take Germany -- the strongest economy in the eurozone -- down with it...
For example, Germany's largest bank, Deutsche Bank, has an enormous amount of exposure to Italy, and so does the rest of Europe. Ultimately Friedman thinks it will be Germany that has to save Italy.
And that will cost a lot of money.
See also Banks Bloated on Sovereign Debt Weaken Italy in Row With Germany.
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