Wow, this was the bank I banked with for 36 years. it’s gone! This was one of the most solid banks in Holland. Truly staggering.
With major European banks now failing, calls have increased for an entire restructuring of the financial system under a centralized EU supervisory body.
With Belgian-Dutch group Fortis becoming the first major European bank to buckle, British mortgage lender Bradford & Bingley also being nationalized, as well as several other banks failing in Iceland, Denmark and Germany, economists have warned that more are teetering on the brink and only a radical centralization of power in Europe can stave off financial ruin.