German Banks Lose Nearly $21 Billion in 90 Days

Fear struck local markets as shares in Commerzbank and Deutsche Bank – the country’s two biggest lenders – plummeted again. Deutsche Bank lost 4%, hitting an all-time low reminiscent of the financial crisis of 2009. Commerzbank fell by nearly 5%, closing at the lowest level the company has seen in over two years.

Last week, the bank reported record losses of more than £5.1 billion, enough to incite a panicked wave of selling. The news was paralleled by another stock market crash on Tuesday that took billions from big banks in the UK.

Germany is the planet’s fourth biggest economy. Experts agree that the fate of the entire Eurozone relies on its financial security .... http://financialfreedominsider.com