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Chief economist at Deutsche Bank, says EU banks need a 150 billion euros bailout

David Folkerts-Landau, chief economist at Deutsche Bank, says “Europe is Seriously Ill”, and EU banks need a €150 billion bailout program.

He suggests a huge EU bailout program. 

Private creditors should not participate.

Rules prohibit state aid. However...

Die Welt via Mish 10 July 2016

The EU rules are “very clear” on when creditors should face compulsory losses, known as bail-ins, Mr Dijsselbloem said.

“The only thing that to me is very important is that we respect what we have agreed between us, because otherwise everything will be questioned in Europe” he said.

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