If we Brexit your holiday,mortgage and total cost of living will go up as will unemployment. Remain, you know it makes sense!
GREECE has debt of €285 Billion, debt is 3 x GDP and rising because they cannot service it.
The German public will refuse to pay , so crunch time soon i.e. Greek default.
When the ECB restructured the Greek debt, the EU taxpayers were put on risk, whilst shareholders of Deutsche Bank, Commerzbank, Societe Generale and some Greek banks were quietly let off the hook.
The Greek debt is not going to be repaid.
EU taxpayers will be paying, which is why the UK needs to leave as soon as possible before all the Med countries fail, especially Italy.
EUROZONE BANKS. The IMF estimated the black hole in their books as €715 Bn in April, esp in Germany, Italy, Portugal and Spain.
DEUTSCHE BANK, despite being bailed out in Greece as explained above, still has huge debts.
In 2015, DB lost €6.8Bn.So, DB’s share price fell 60%from Summer 2015 to 2016. DB share price :- €32.05 on 31Ju l2015 ; €13.235 on 09Feb 2016.
In 2007, it was approx €100.
I do not know the NetPresent Value of their massive derivatives positions.
In 2016, Moody’s has downgraded DB unsecured senior debt twice to Baa2, two notches above junkgrade.
ITALIAN BANKS have €360 Billion bad loans, of which €200 Bn are sofferenze i.e. worthless, creditors are already bust. Italian banks have many of these loans in their books at 40% of face value.
€360 Billion is 20% of Italian GDP.
The Italian “systematic solution” plan is called Atlas, after the guy who held up the sky.
In 2016, Italy’s largest bank, UniCredit, has lost 40% of its share price.
On 8 May 2015, its share price was €6.54; on 3 Jun 2016 it was €2.64 ; a 60% loss in value in a year.
VOLKSWAGEN will likely need German state rescue due to estimated €45 Billion costs from emissions & other problems.
In April 2016, VW net liquidity was €28 Bn. Do the maths.
FRENCH ECONOMY is dead-in-the-water, with no or little growth achieved for many years.
French are ignoring the global market, with labour laws as at before WW2.
Terrorism, rise of extreme right wing party,
workers violently refusing to countenance labour market reforms.
53% of voters want an EU referendum like UK.