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Deeper, more systemic forces are at play—in the case of both the SVB collapse and the now spreading contagion to US regional banks as well as to European banks. The SVB is just the tip of the current financial instability iceberg. In Europe the focus is the now collapsed big Credit Suisse bank announced today, March 19, by Switzerland’s central bank. The problem is thus now not just US regional bank centric, but is rapidly becoming global systemic. More
The post Banking Crisis 2023: Deep Origins and Future Directions appeared first on CounterPunch.org.
This content originally appeared on CounterPunch.org and was authored by Jack Rasmus.