© 2024 Blaze Media LLC. All rights reserved.
Financial Anarchy': Jim Cramer Predicts a Run on Banks in Spain and Italy Within Weeks
May 20, 2012
"It's going to cause a slowdown worldwide, China and here"
Jim Cramer, a former hedge fund manager and the host of CNBC's Mad Money, was on Meet the Press with David Gregory this morning where the two discussed Europe's economic woes and the worldwide ramifications of the disaster.
"I'm predicting bank runs [in] Spain and Italy within the next few weeks. Without a coordinated policy, there is going to be financial anarchy in Europe and [it's] going to cause a slowdown worldwide, China and here."
Watch the interaction, below:
Just a few days ago, Cramer was discussing the run on Greek banks and how it would become a "slippery slope."
"This is not Argentina and Brazil in the 80's," he said, "these are big countries."
The Street TV, which conducted the interview, summarized: "Our Banks Can't Outrun European Banks."
(H/T: Business Insider)
Want to leave a tip?
We answer to you. Help keep our content free of advertisers and big tech censorship by leaving a tip today.
Want to join the conversation?
Already a subscriber?
more stories
Sign up for the Blaze newsletter
By signing up, you agree to our Privacy Policy and Terms of Use, and agree to receive content that may sometimes include advertisements. You may opt out at any time.
© 2024 Blaze Media LLC. All rights reserved.
Get the stories that matter most delivered directly to your inbox.
By signing up, you agree to our Privacy Policy and Terms of Use, and agree to receive content that may sometimes include advertisements. You may opt out at any time.