Great way to start the week…
Following the footsteps of
European-Lehman Dexia’s implosion, two more banks followed suit: Proton Bank (Greece) and Max Bank (Denmark).
On Proton Bank:
“Greece’s central bank said on Monday it activated a bank rescue fund to save Proton Bank, effectively nationalizing the small lender that is under investigation for possible violation of the country’s money-laundering laws.”
On Max Bank:
“Max Bank A/S became Denmark’s first insolvent lender to test a bank package designed to sidestep the country’s bail-in laws after the state was able to find a buyer and avert senior creditor losses.”