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Global systemic crisis – First half of 2012: Decimation of the Western banks- GEAB Nr 58 [Global Europe Anticipation Bulletin No. 58)
In this case, for ages, when one thinks of "banks" one thinks first of all of the City of London and Wall Street12. And with good reason, London for over two centuries and New York for nearly a century have both been the two hearts of the international financial system and the lairs par excellence of the world’s major bankers. Any global banking crisis (as any major bank event), therefore, begins and ends in these two cities since the modern global financial system is a vast process of incessant wealth recycling (virtual or real) developed by and for these two cities13.
The decimation of bank staff numbers
Let’s begin with the numbers then! Here the picture is bleak for banking sector employees (and now even for the "banking system stars"): since mid-2011 Wall Street and London have continuously announced mass layoffs, spread by the secondary financial centers such as Switzerland and Euroland and Japanese banks. A total of several hundreds of thousands of banking jobs that have disappeared in two waves: first of all in 2008-2009, then since the late spring of this year.
READ THE PDF FILE:
GEAB Nr 58 [Global Europe Anticipation Bulletin No. 58
/resources/uploads/files/GEAB-Nr58-en.pdf
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08/10/2011