Lehman Brothers

Do the almost simultaneous bank crises on the opposite sides of the Atlantic imply a disaster like the Lehman Brothers collapse?

Maybe it was not necessary for the Silicon Valley Bank and Credit Suisse debacles to come along for the winds of uncertainty to blow in the global economy.

They had already been stirred by the war in Ukraine, the energy crisis, and a rise in inflation in the eurozone.

The prospects of the European economy were discussed by the participants in the panel "European Economy", coordinated by Tassos Anastasatos, Chief Economist of Eurobank and held at the 6th Delphi Economic Forum held under the auspices of of the President of the Republic, Katerina Sakellaropoulou.

Lately, we have witnessed a number of significant events go down in financial history. In August 2018, 20 years had passed since Russia declared bankruptcy with the primary reason being a substantial drop in the prices of resources, especially oil which quoted at US $9 per barrel. In September, we looked back on how Lehman Brothers, a major American bank, faced bankruptcy.

Euro zone banks are well prepared for sharp changes in interest rates, the European Central Bank said on Monday after simulating scenarios from sudden monetary tightening to the lending freeze that followed Lehman Brothers' collapse, reported Reuters. 

Following years of often strict budget austerity, the level of government borrowing in the 19-country eurozone has fallen to its lowest level since early 2008.

Official figures Tuesday show the deficit in the eurozone was at 1.4 percent of annual gross domestic product in the fourth quarter of 2016, from 1.6 percent in the previous three-month period.

Croatia's planned purchase of the shares of the national energy company INA from the Hungarian energy company MOL is bound to increase Croatia's public debt, an economic analyst told BIRN.

Prime Minister Andrej Plenkovic said on Christmas Eve that purchasing MOL's share of INA - 49.1 per cent of the shares - can be done without enlarging the public debt.

Attica Bank will issue government-guaranteed bonds that can serve as collateral to borrow funds from the Greek central bank's emergency liquidity facility (ELA), its deputy chief executive confirmed to Reuters on Thursday.

Greece’s Supreme Court decided in favor of the wideow of a Greek pensioner who took defunct finance firm, Lehman Brothers, to court reports daily Greek newspaper, Ethnos.

It is very sad to see the world economy return to the same tough conditions it saw during the time of the Lehman Brothers bankruptcy seven years ago, Koç Holding board member and B-20 Employment Task head Ali Koç has said.