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Is another German bank in trouble? Commerzbank to cut 9,600 jobs and suspend dividend

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 Cinnamon    28,889

Commerzbank, the second-biggest bank in Germany, has suspended its dividend and revealed more than 9,000 job losses as it tries to shore up its business in the face of ultra-low interest rates and sagging client activity.  

The bank said its decision to cut almost one in five of its employees worldwide and merge two of its largest businesses will result in a €700m write-off and a loss for this quarter.



Couple this with Deutch Bank's problems and a perfect economic storm is coming.  2008 all over again, but this time, with derivatives unwinding in the trillions. smh  All these people have to do is manufacture money out of thin air and they still manage to screw that up, taking the rest of the world down the tubes with them. 

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