I started telling this story on Monday, and it just seems like every day....another serious financial story is laid out.
This morning....a regional town near me....Eschborne (20k residents) is talking about their banking loss.
They figure around 35-million Euro is in the collapse of this bank. In total.....around 10-percent of their total cash holdings....are possibly gone.
There's a lot of heat going on with the bank audit folks....managed by the federal government, and I might suggest that they are going to burnt in a bad way at the end. They had to know something was wrong as least a year ago, and did practically nothing.
For the towns? You are going to see most of them clamp down for two or three years on projects, and just try to regain their trust in the banking sector.
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