Only ECB Tricks Stand Between European Bank Balance Sheets and Total Collapse
Earlier this week we reviewed how Europe's bank deposits are slipping away under the ECB's cover of darkness. Now here's the other side of the coin, showing how the ECB's stupid pet tricks are hiding the truth about the growth of their assets. Lately ECB talking heads, essentially Mario Draghi and his media minions, have been crowing about loan growth and European banks. But strip away the central bank's smoke and mirrors, and we see that that's all it is--tricks and empty chatter.