Bad Duerrheim News Today

by Tyler Durden Saturday, Mar 13, 2021 - 08:45 AM Germanys Bafin has frozen accounts at Greensills Gremany-based bank as its parent companys debt-repackaging business has tumbled into administration. And unfortunately, the demise of the bank will likely take tens of millions of euros of public money that had been invested in short-term high-interest accounts. Millions of dollars belonging to German municipalities had reportedly been parked at the Bremen, Germany-based bank. And because towns an...

Bad Duerrheim, a town of 13,400 people on the fringes of the Black Forest, is one of many across Germany united by a shared anxiety, the possibility of losing millions of euros invested with Greensill Bank.

German city Osnabrueck fears it will lose 14 million euros ($17 million) invested with Greensill Bank after the country's financial regulator warned this week of "an imminent risk" to the lender.

The mayor of Germany's Monheim am Rhein is concerned that it may lose 38 million euros ($46 million) invested with Greensill Bank after a warning on Wednesday by the country's financial regulator of "an imminent risk" to the lender.