After Greece and Cyprus, the Italian peninsula is sending alarming signals while new European banking rules are likely to constrain state action.
On 25 June, the Italian government formalized the rescue of two medium-sized mutual banks - Banco Popolare di Vicenza and Veneto Banca - on the brink of bankruptcy, after finding no investor in the markets to help them.
Such situations are causing investors all over Europe to question the safety of the banking system. The particular attributes of the unprecedented bailout of Cyprus' banks
Read more here: https://cointelegraph.com/news/bitcoin-price-may-surge-as-italian-banks-send-alarm-signals-for-europe
your a couple of hours late with this one https://steemit.com/cryptocurrencies/@btc-central/bitcoin-price-may-surge-as-italian-banks-send-alarm-signals-for-europe-the-cointelegraph
@steemcleaners
citing source doesnt fall under fair use as majority of content is plagiarized
Interesting info that some Italian banks are signalling failure.
As populations lose faith in their fiat currency they will turn to a place where they don't have to trust an intermediary government... crypto...
If you lived in Greece would you ever go back to fiat? Once this trust in paper money is broken for an individual it is never coming back.
As each of these banking system prove they can't be trusted, they will forever lose their chunk of customers.
For me this paints a one way street leading to crypto currency. It is a only a matter of how long it will take each individual fiat to fail and lose the faith of their people.
Maybe 6 months... maybe 60 years. At some point we are turning a page here.
We're nearly 10 years on from the crisis and the fallout is still happening. Its frightening how far into danger the global financial system let itself go. There's more to come for sure.
I hope the people in those country will now see the importance of decentralized monetary system. if Government can't help then it will be legit and make sense for the people to help themselves.
The banks abuse will keep cryptocurrency on the rise. Im hoping we don't have amarket crash but the truth is the system is built to crash every once in a while. History tends to say about once every decade.
Its going to be very interesting to see how Bitcoin responds to a global financial crisis!