Posted Oct 14, 2016 by Martin Armstrong
American banks would rather return to the USA than strengthen their activities in the Eurozone. The U.S. banks, overall, now expect the EU to simply disintegrate. Brussels is not about to surrender its dream and is clinging to life as it slowly dies. The general view now is that the European banks are reaching the point of hopelessness. Their commercial nonperforming loans are at 10 times what you see in the U.S. banks.
This deflationary policy in Europe has deliberately created a depression in Europe, and somehow, at least in Merkel’s mind, they think that is better than inflation.