Banks under pressure

Due to Corona and Crypto. Recent reports indicate bank preparing for even tougher times than the past years since 2008 with low interest rates.

My channel is usually about cyber security and technology. However, the corona crisis has far-reaching consequences for numerous areas of life and work. The pandemic is also a major burden on the German banking industry, which will soon and thus to already existing challenges such as the ongoing economic crisis and the low interest rate is added. At the latest when the obligation tofile for insolvency is reinstated.

This development may effect your own financial security in 2021 (that's why I am talking about it. Major loan defaults are expected to increase all over europe and globally. For the German financial sector in-overall, the corona-induced effects should be manageable according to current estimates. In the medium term, however, the risks in the national and international financial system are high.

Keep in mind that anything that leads banks to struggle will ultimately be paid by you and me! Keep your funds safe from bankers and your crypto safe from hackers.