the story is true except that business insider reported the bank as being big. one italian on this thread claimed incorrectly that there was no bank name bni but posted the italian government website which proved the existense of bni. another poster who can probably read italian came up with a useless statistic to support his own idea. this is a good thread because people came up with useful links. bottom line: there is nothing shady about the reporting.
so its a small italian bank that is freezing up customer accounts. there just wasn't clarity it wasnt on any of the big news channels bloomberg, marketwatch thats why i said it was shady aka sgtreport, rapturewatch, abovetopsecret are not places i tend to find "legit" news and thats where i was finding it
"it wasnt on any of the big news channels bloomberg, marketwatch thats why i said it was shady " your inference is not correct. marketwatch and particularly bloomberg possibly blew the story. bloomberg might have known but did not think it was significant or you might not have top tier accessibility to bloomberg. business insider caught it a few days late.
Obviously didn't pass editorial muster. C'mon, 10MM Euro? Where's the legit wire story? BizInsider lol.
Or completely fabricated. If you're going to make a run then you would logically see it amongst more than a single obscure institution. My guess is that the BNI website is a sham. I've been a bear on the EU since well, forever, but this is a joke.
this bank is a small speck. my belief is that there is are silent bank runs. it is obviously done on the internet with a click and the money is transferred. of course desperate governments can pass laws which force repatriation with penalties of imprisonment and confiscation of property. more important is how the italian government is handling the situation.