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BANKS IN THE Eurozone are just as likely to fail at present as they were before the credit crunch hit in 2008, according to a new report.
The study, which compares systemic risk across European banks has found that despite efforts to improve the resilience of banks to crisis shocks the same vulnerabilities remain.
It seems that banks in the southern part of Europe such as Spain and Italy (the Spanish having been hit by the recession in comparable terms to Ireland) are most at risk, while banks in the north of the continent are more resilient.
“The European banking system remains highly vulnerable and conducive to financial contagion, which implies that the policies designed to reduce systemic risk are not necessarily doing the job,” says Dr Nikos Paltalidis of the University of Portsmouth Business School, the man behind the research in the Journal of Banking and Finance.
The findings suggest we might need additional policies to better protect the euro zone and increase the resilience of the financial system.
Our findings indicate that despite all the efforts to improve the resilience of banking, some banks are as vulnerable today as they were before the last banking crisis, they are just as likely to fail.
The study involved the comparison of economic shocks on 170 different Eurozone banks and their contagion effect on nearby economies.
A key conclusion of the report is that “similar to the pre-2009 period systemic risk is enormously underestimated once again”.
A series of stress tests conducted last October (PTSB being the only Irish bank to fail them) indicated that most European banks are now in a position to survive another crisis should one arise.
“According to several stress tests the euro area banking system seems to be fundamentally solvent,” says Paltalidis.
However, our study provides ample evidence that this hypothesis does not hold in practice.
In case of a financial or economic shock, we found that banks would experience losses big enough to reduce their capital below the required regulatory minimum, because the quality of equity on the biggest European lenders is not sufficient enough to mitigate systemic crisis.
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I used to be one of those people. I used to drink a liter of coke every day. Heard a report on the radio similar to this and said to myself that’s it I’m done with coke. Drank water after that but the body really craved it for about a week. Within 6 weeks I had lost 2 stone and felt much healthier. Still love the occasional coke but it really is toxic.
I had similar circumstances. I was drinking it because it was there or I was naturally thirsty. I’d finish two cans and still my thirst would not be quenched. It went on like this for years including various other fizzy drinks yet I had always been a good ‘water drinker’. One day when I was 16 I gave it up and I have not looked back. I do not crave them in the slightest bit. I just regulate how much of my juice or coffee intake is now, they still can contain high sugar amounts even though I don’t take any sugar with my coffee. Water is still pro-dominantly my drink of choice no matter where I go, even to pubs I still ask for water. My thirst is actually quenched and I’m not looking for more. I’d encourage anyone who can give it up to do so or at least lower their intake.
Why is a contour bottle of water the same price of a bottle of coke?
Nailed it crypto, if they were serious about it being about health before taxation, they would reduce vat on water and designated healthy options.
best just to drink from the tap all together. look at the ingredients in some bottled water. some littererly say they have salt in it
Not this again. They already have! The vast majority of healthy, unprocessed food is 0% Vat. It’s mainly “unhealthy”, processed food that is taxed at 23%. There are several different vat rates. Not everything is taxed at 23% vat. Next time you go to Aldi or Lidl look at your receipt and you’ll clearly see what was taxed at what rate.
As an adult, OK, your bad choice to make, but can’t understand parents letting kids drink them. I have four kids and they know not to bother even asking for a fizzy drink. I’m sure they still are having way too much sugar daily already, but this is a no brainer.
Well they’ll just do it behind your back, and indulge more when they are older.
*Diabetics drink lucozade to save them from going into diabetic comas caused by low blood sugars. Sugar isn’t evil, moderation is perfectly fine and in some cases a life saver….
Lily that comment is a bit nonsensical, you can’t compare a diabetic’s needs (which is a serious medical need) to those of the general population, who can cope just fine without sugar.
Sugar has zero nutritional benefits Lily.
I should have clarified that by saying processed sugars like those found in soft drinks have zero nutritional benefits as opposed to fructose found in fruit.
Lucozade is the best drink for diabetics with low blood sugar. A banana would take too long to work.
As for the general population moderation is perfectly fine.
Glucose drips are used in hospital because sugar is needed to give people energy.
Flat 7up wasn’t used by mothers for no reason at all!!!!
There is no science to back that up. Old wife’s tales mean just that tales. Sugary drinks give you nothing positive that a scientific fact.
Daily allowance of 6 spoons, any single product containing more than that must be considered dangerous in the long term. Feck the tax, slap limits on the manufacturers who peddle poison.
If somebody made you a cup of tea or coffee and proceeded to put 9 teaspoons of sugar into it, what would you think?
Think about that the next time you have that harmless can of Coke.
You may be setting yourself up for diabetes later in life.
It’s grand tom, if I get diabetes, I’ll just pray to god and he will take it away.
As a teen/kid I used to have at least 4 sugars in my tea, until at 14 I was too lazy to get the spoon and the sugar and stir it in. I haven’t taken sugar in my tea since.
My kids have never had sugar in their tea. Though they eat both healthy and unhealthy food. Moderation is what it’s all about.
I nearly collapsed in the shower the other day due to low blood sugars, *i get hypoglycaemia occasionally, due to exercise, skipping a meal or having a low carb meal. The feeling is horrendous. Sugar is good too if have in moderation.
@Lily: This is about tacking obesity, especially in children. We are all aware that the body needs some forms of sugar for energy, but the key to that (if you are not diabetic or very underweight) is to eat properly and not rely on sugary drinks/sweets for an instant boost in sugar. You need to be eating foods that release energy slowly so you don’t end up suffering from attacks of hypoglycaemia.
I suffer from hypoglycaemia sometimes too (not diabetic, I get them when I forget to eat) and I know they’re horrible, but it doesn’t make sense trying to argue that sugar is good for you because of them. If nothing else, it’s because you’re not eating enough proper food, not that you’re not getting enough sugar.
Why hurt the entire population just for a few who are unable to eat /drink in moderation ?
the department of finance are already running their hands with the bonus income of these figures, and it 100% won’t be going to any health of obesity prevention measures.
You can’t teach an old dog new tricks, it’s up to parents to show example to their children & not put these drinks in the weekly shop.
Im a month off sugar this Thursday. Giving it up was the hardest thing ive ever done. I gave up cigarettes and alcohol and they werent nearly as challenging. The start was immense cravings followed by severe headaches and really bad fatigue. After 8 days this stopped. The biggest shock for me is now morning times. I used to set my alarm an hour before id to get up because I was like a bear waking from hibernation. Now its just eyes open straight up and feeling more alert. I challenge any of you to give it a go. It will shock you how much you will crave it. Frightening!!!!!!!
If that’s the hardest thing you’ve ever done, you’re a lucky lucky boy.
I’m off sugar a long time Myles and that initial period of cravings is so difficult but once someone gets past that (like you did), the benefit you feel is brilliant.
@Myles Fleming: Quick question, when you say you gave up sugar, what do you mean? Do you mean sweets and junk foods or have you cut out fruit and stuff as well? I would LOVE to wake up in the morning and not feel terrible!
Parents need to take more responsibility for their children’s diet, 20c on a can of coke isn’t going to change what a child does with their lunch or pocket money.
The other two thirds are supplementing their sugary drinks with booze:))
Just another bull-hit excuse for another bull-hit tax ..
It’s all of the above.
Parents need education.
Parents need responsibility.
However, governments need to govern and they need to support parents who try to be responsible. Stop allowing schools to have vending machines full of this junk.
Start treating kids as what they are, small human beings. Stop kids menus in restaurants. Give kids the adults meal in smaller portions.
Don’t sit down having grilled plaice with steamed vegetables while your kid has burger and chips.
When you host a kids birthday have healthy treats. Give each kid a slice of cake and leave it at that. When it’s time to leave, the party is over. You don’t have to give them a goodie bag full of more shlte. The party is over and they don’t need it.
We will have the type of society we want but we must demand it.
Well said Tom.
@Tom Burke: The kids menus in restaurants drives me mad. At home my child eats all the same food as I do, she’ll try new food and loves some very strong flavoured food that even some adults wouldn’t go near. When we’re out though, the first thing she asks for is “chicken nuggets and chips” and it drives me batty. I get it that some kids are picky, but mine used to be as well. It took the bones of a year, several reward charts and a lot of perseverance, but she now eats just about anything I put in front of her and loves things like salmon, blue cheese, sushi, spinach, asparagus, and lots of other things that you couldn’t even get near most children. As you said, it comes down to responsibility. It is the parents responsibility to make sure their child eats a healthy diet. Of course it’s easier to just give in when they throw a tantrum because they don’t like green food, but that’s not what parenting is about.
Another Bankers tax.. With sterling on its knees , this stupid tax could be the worst bankers tax yet …
You’ll find in time how far this “sugar tax” spreads,nearly all food produce on the shop shelf contains sugar. It won’t only effect soft drinks!
@Veronica. Ive stopped eating anything with refined sugar in it. But it can be tough because its in virtually everything. My list goes like this chocolate, sweets cakes ice cream condiments (as best as possible) jams chutneys soft drinks energy drinks and sugar in coffee and tea. Watch eating bread too. I dont eat it as much because i find myself craving sugar after it. Thats all i can think of. I gave up the drink 8 months ago then carbs and the sugar for health reasons. Theres no doubt about it. Youll find getting up much easier.
Well done Myles.
I think the best way to avoid sugar is not to think about what you can’t buy but think about what you can buy.
You can buy fruit, veg, eggs and unprocessed meats. Find the cereal with no sugar and sugar substitute.
Find what you can buy and stick to that.
You will be in and out of the supermarket quicker than anybody else.
As for treats. Go to the farmers market. Talk to the producers. They are often very helpful and can bake to your requirements.
When you get into good food you will wonder how you are the other poison.
Believe me, I’m not some bore. I like my pint and I will eat desert and chips etc.
But I keep it to a minimum.
Best thing anyone can do is eliminate sugar in as many forms as possible from their diet. It is shocking the amount of young children, under 12, who are overweight or obese, they’re certainly getting the money from their parents so their parents should be held responsible. It’s nearly a form of abuse to inflict poor eating habits on your children in their formative years, that are more difficult to change as they get older.
Fat little bast a rds
@Tommos big nose. What else do i give up after all that? Shut up you goon!!
this is stupid whose not getting a can of coke because of an extra 10c
no one. so how can this work.
Why o why would anyone give this muck to their kids..apart from the fact that it has zero nutritional value it makes kids hyper and rots their teeth.. No thanks. My kids get it the odd time at a party maybe. Apart from that its water all the way.
What do people think of Coke Zero, no sugar and pretty much the same taste, without all the sugar.
Worse for you than the real thing.
@Thommo’s Big Nose: I’v no idea if they are or not, but if its sugar your looking to cut back on and enjoy a can of something from time to time, then it seems to be reasonable to go with the sugar free version. Why also is it just sugar, why not tax salt also? There’s just as much salt in things as sugar both as bad to your body in large amounts!
Full of chemical poison like aspartame. If I touch that stuff my body lets me know quickly. I spend far too much time standing in aisles reading labels with powerful glasses on. I won’t give it to my kids either.
@Patrick J. O’Rourke: Are you just assuming aspartame is unsafe or do you have something you can show me as to why it’s unsafe?
Look it up. It’s incredibly unsafe.
@OnTheOutside: I have my own bad experiences with the chemical actually. That was before I even knew about it and had to eliminate things in my diet to see what was causing the problem. Reading the history of it and how it got into food production and cleared from being a listed poison to being an everyday staple I found somewhat flabbergasting. In my view it should carry a health warning for anyone suffering from arthritis and several other nerve issues. One doctor I saw reckoned that if it was taken out of the food chain his workload would halve. I think we have yet to see the real implications of its use in the long term.
@OnTheOutside: If someone really wants to have something fizzy and sweet, they should make an “Apfelschorle”, mix apple juice with sparkling water. Delicious and way les sugar that coke.
Veronica
That’s not bad advice at all but if I might add.
Fruit contains sugar. Now before anybody screams at me that it’s natural sugar, I agree, however.
When you drink a glass of ‘pure’ orange juice and they tell you it contains the juice of 10 oranges, please realise you are getting the sugar of 10 oranges.
If you wouldn’t eat 10 oranges in 1 sitting then don’t consume the sugar of 10 oranges.
Also, when those flamboyant breakfast cereal boxes say no added sugar etc, read the ingredients and find the sugar substitute like agave.
If you eat a ‘healthy’ yogurt and as soon as you finish it you crave another one, the chances are the manufacturers have added something to hook you.
The food industry is not about food, it’s about profit.
OnTheOutside
If you go through life keeping chemicals out of your food as much as possible, you are doing your health a favour.
Do we really need proof?
The mere sound of that word scares me. It sounds like something you would clean the floor with.
@Tom Burke:
>Fruit contains sugar.
Yup, another reason why diluting juice is better for you! Since I moved to Germany and only ever seem to be able to get diluted juice when out and about, I just can’t go back to drinking undiluted juice, it’s just so sweet!
@Veronica: Yep. Here we just buy squeezed juice, or squeeze fruit ourselves, and treat it as cordial to add water. The kids complain if there’s too much juice in it as now they have the taste set in their buds.
@Tom Burke: While I respect what you are saying, everything has a chemical name in some shape or form. I’m just interested why of all the chemicals that one you picked, which my point was the product has less sugar than the sugar version. Would this not be better for you. You can’t live life dodging chemicals.
And I agree with regards blending down fruits.
Well everything doesn’t have a chemical name. When I read ingredients and they are natural I am more likely to buy.
As for chemicals in Coke? I wouldn’t trust Coca Cola as far as I would throw one of their cans.
If they put 9 spoons of sugar in a drink, they don’t care about anybody’s health.
I also don’t trust their testing.
Many of these chemicals can be slow burners. They can’t say after 3 years it’s completely safe. Chemicals in your body are not good.
have your say