To: Maurice Winn who wrote (79044 ) 9/5/2011 10:42:15 PM From: 2MAR$ 1 Recommendation Read Replies (1) | Respond to looking pretty bloody over there on the DAX , germans arent buying anyone soon ....Europe looks in deep disarray , shares in several Italian banks were halted from trading this am Unicredit -7%, Intesa Sanpaolo -7.7%, both taking out 52 week lows ....it also emerged that European banks may have been shifting cash to the US....looks like they are fleeing to safety too .. Meanwhile, evidence emerged that some analysts suggest shows that European banks have been transferring large amounts of cash across the Atlantic in a bid to escape an emerging European banking crisis. Fears began to mount again that the eurozone may not be able to contain its debt crisis, and a government default could in turn lead to a European banking crisis. Deutsche Bank's outgoing chief executive, Josef Ackermann, said on Monday that some European banks would go bust if they were forced to recognise in their accounts the existing losses on government debts they own, based on current market prices for government bonds.
