A potential banking crisis in Europe could be the domino that crashes the global economy. John Mauldin, the chairman of Mauldin Economics, says there are hundreds of billions of dollars at risk in a brewing banking crisis in Italy.
Italians have been excellent savers, but their savings stored in Italian banks will be at risk should the country’s financial institutions fail. Nearly 20 percent of Italian bank loans are officially non-performing, with the likelihood that the real figure is much higher. This could lead to a banking crisis so large the European Union wouldn’t be capable of bailing Italy out.
Find out the details by watching the interview above.