European Banks and Europe’s Never-Ending Crisis

by Pater Tenebrarum
Acting Man

Landfall of a “Told You So” Moment…

Late last year and early this year, we wrote extensively about the problems we thought were coming down the pike for European banks. Very little attention was paid to the topic at the time, but we felt it was a typical example of a “gray swan” – a problem everybody knows about on some level, but naively thinks won’t erupt if only it is studiously ignored. This actually worked for a while, but as Clouseau would say: “Not anymeure!”

[…] Readers may want to check these previous missives out, which provide a lot of background information and color (in chronological order: “Insolvent Zombies”, “Drowning in Bad Loans” and “The Walking Dead: Something is Rotten in the Banking System”). What is happening now is therefore a “told you so” moment, because, well… we told you so. 🙂

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