It looks that prediction is in the process of coming to pass.
In the past two days, Deutsche Bank stocks have been plunging. If the bank collapses, it will drag the entire EU economy down into a spiral similar to what the financial market experienced in 2008.
Financial experts are saying the only way to save the bank—and the EU economy—is for the German government to bail out Deutsche bank. Angela Merkel is saying a bail will not happen.
It’ll be hard for her to change her mind, too, as German politicians have argued staunchly against allowing the Italian government to bail out failing banks there.
Deutsche Bank is more important to the EU’s economy than Lehman Brothers ever was in America. And remember what happened when that bank collapsed. The collapse of Deutsche Bank will be disastrous.
And the ripples will certainly be felt here.
Save a little extra cash over the next few weeks if you can. Things could get dicey.