George Soros bets €100m AGAINST Deutsche Bank

deutsche-bank-logo

http://www.express.co.uk/news/world/684259/George-Soros-100-million-euro-bet-Deutsche-bank-collapse-shares-EU-referendum-Brexit

The man who “broke the Bank of England” took a short position of 0.51 per cent in Deutsche Bank shares on Friday – the day after the people of Britain backed Brexit.

In growing signs that desperate Angela Merkel’s economy is struggling in the wake of the nation’s decision to leave the EU – Soros Fund Management said its short position was now 0.46 per cent – suggesting it had begun to take profits from the trade.

Since the momentous decision, shares at Deutsche have dramatically slumped.

At one point, shares were down by more than 13 per cent compared with Friday’s high point.

By early on Tuesday afternoon, they were down by 7.9 per cent from that level.

Marshall Wace, a British hedge fund, also took a big bet against Deutsche Bank.

Banks across Europe have been left battered by Britain’s decision to turn its back on Brussels in a historic referendum on June 23, but Deutsche Bank is especially troubled.

The bank, which is undergoing a deep restructuring, has been hamstrung by the fallout from the financial crisis, posting a record loss of €6.8billion in 2015.

Around a year ago, John Cryan took over as the bank’s new CEO, with a clear mandate to slah jobs and costs.

Since then the bank’s share price has dropped by nearly 60 per cent, making it one of the lowest-valued international banks.

It comes after Mr Soros who banked profits of $1bn by famously positioning himself against sterling 22 years ago, said a British exodus from the bloc would make the eventual dissolution of the EU “practically irreversible”.

The veteran investor, 85, said that Brexit was the final nail in the coffin for the EU.

Mr Soros made around £690m after his infamous bet that sterling was overvalued against the Deutsche Mark, which forced former Prime Minister John Major to pull the pound out of the European Exchange Rate Mechanism (ERM).

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401

~ by seeker401 on July 1, 2016.

15 Responses to “George Soros bets €100m AGAINST Deutsche Bank”

  1. Reblogged this on Debatable News: Mainstream to Tinfoil Hat and more.

  2. Reblogged this on Scoop Feed.

  3. Money for nothing & the chicks for free… Dire Straits

  4. Here’s the chilling speech George Soros gave to European Parliament

    http://finance.yahoo.com/news/full-text-of-soros-speech-to-eu-parliament-115156180.html?soc_src=mediacontentstory&soc_trk=tw

    why does this fucking vampire get to speak to the EU parliament??

  5. […] via George Soros bets €100m AGAINST Deutsche Bank — Follow The Money […]

  6. The actual producers in Europe should be leaving the EU, as well. They really need to form their own free trade zone, without the entanglements the globalist EU demanded from them, and with more stringent membership requirements.
    There’s nothing wrong with free trade zones, as long as they do not impinge on a nation’s sovereignty, nor the right of the people to elect their own leadership & protect their own interests. If free trade is harming one country or the other, and is not beneficial to the citizens of both, then there is no reason the losing party should remain.
    Frankly, I’m an advocate of balanced trade between nations, using tariffs and other tools. Trade between two nations does not really benefit either side unless it’s balanced.

  7. […] via George Soros bets €100m AGAINST Deutsche Bank — Follow The Money […]

  8. http://www.thecommonsenseshow.com/2016/06/30/the-un-will-soon-control-food-distribution-in-america-with-devastating-results/?utm_source=rss&utm_medium=rss&utm_campaign=the-un-will-soon-control-food-distribution-in-america-with-devastating-results

  9. Bremen Landesbank hits the deck first..

    http://www.zerohedge.com/news/2016-07-07/europes-bank-crisis-arrives-germany-%E2%82%AC29-billion-bremen-landesbank-verge-failure

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