Article: Fallout From Greensill Collapse Splatters British Government, Leaves Taxpayers With Big Losses

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Fallout From Greensill Collapse Splatters British Government, Leaves Taxpayers With Big Losses

TYLER DURDEN, 07 April 2021

The collapse of UK-based supply chain finance firm Greensill Capital continues to reverberate. In Germany the private banking association has paid out around €2.7 billion to more than 20,500 Greensill Bank customers as part of its deposit guarantee scheme after the bank collapsed in early March. But the deposits of institutional investors such as other financial institutions, investment firms, and local authorities are not covered. Fifty municipalities are believed to be nursing losses of at least €500 million. Continue reading “Article: Fallout From Greensill Collapse Splatters British Government, Leaves Taxpayers With Big Losses”