From the many warnings about the state of the Euro banks, I imagined that the Italian banks would be the first to hit crisis this Summer, then Greece and Greek defaults.
However, thesere's an increasing amount of 'noise' around Deutsche Bank. Now I'm in no way qualified to guage the liquidity of banks, but one worrying factoid struck me. I've long been concerned at the $500 trillion of derivatives that still plague global wealth; this obscene and irresponsible magnification of money was also responsible for putting bare-breasted Africans in Chinese T-shirts, jeans and trainers, giving them 2G phones and directions to the Med. Anyway, it seems that DB is holding around a tenth of all global derivatives - some $52 trillion worth. It's like a game of financial Jenga with 30% of the sticks already gone.
With all of the Eurozone dependent on German wealth to keep the continent out of trouble, this doesn't seem quite healthy to me. Perhaps financial types can provide some assurance?