Major European banks benefit from 48 billion euros ’implicit’ #subsidies
▻http://multinationales.org/Major-European-banks-benefit-from
European banks benefit from a “financial support” worth 200 to 300 billion euros every year, thanks to ’implicit subsidies’ provided by the states. The equivalent of 1.5% of the European GDP and almost twice the #european_union's annual budget! These are the conclusions drawn from a study carried out by the independent finance expert Alexander Kloeck at the request of Green MEPs. This article was originally published in French. Translation : Mathilde Balland. Implicit guarantees mostly concern (...)
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/ #France, #Finance_and_Banking, #BNP_Paribas, #BPCE, #Crédit_agricole, #Société_générale, #financialisation, #Tax_Heavens, subsidies, european union, (...)
#speculation
►http://www.greens-efa.eu/fileadmin/dam/Documents/Studies/Implicit_subsidies_in_the_EU_banking_sector_study_January_2014.pdf