– It’s Starting to Fall Apart: German Bank Sues the ECB (ZeroHedge, April 3, 2015):
We probably haven’t seen the last of the troubles in the Eurozone. As the European Central Bank is trying to put out several fires with regards to Greece and its huge Quantitative Easing money-printing program, it’s important for the Eurozone to keep everybody on the same page. But as could be expected, some banks in the Eurozone aren’t really too keen on playing ball and have rejected the interference of the central bank.
An apotheosis seems to have reached as a German bank has now effectively sued the European Central Bank. The Landeskretitbank Baden-Wurttemberg (hereafter ‘L-Bank’) has protested against the fact it would now fall under the new regime whereby the ECB would assume supervision over in excess of 100 financial institutions in the Eurozone. Continue reading »