'European big banks are technically insolvent' [News Analysis © PressTV]

Max Keiser, Sean O'Grady and Paul Craig Roberts
http://maxkeiser.com
http://blogs.independent.co.uk/author/seanogrady/
http://PaulCraigRoberts.org

France, back in a recession for the 2nd time in 3 years. Italy's economy contracting point seven percent in the last quarter: And for the powerhouse, Germany: its Industrial, construction and manufacturing all slumped for June: The euro- zone debt crisis continues to threaten the survival of the 17-nation currency bloc, affecting non-Eurozone members, like the UK, where the Bank of England said it did not expect the UK to grow out of a recession. But the more alarming picture: the lack of growth, whether its for each country, developing countries, or the global economy as a whole.