The idea that every eurozone country should adopt an export-led growth model should not only be rejected because it is based on exploitation, but also because it is economically impossible.
European Central Bank
The tribulations of major European banks, starting with “venerable institutions” like the Monte dei Paschi di Siena (the world’s oldest bank) and Deutsche Bank (Germany’s largest), have raised the spectre of a repeat of the crash of 2008 — a “Lehman Brothers times five” in the words of one market analyst.
Deutsche Bank has been found to be seriously under-capitalised, both according to the standards set under the Basel III international bank regulation standards and according to its own targets. The same goes for British giant Barclays.