Deutsche Bank, described as "the world's most dangerous bank" by the IMF seems to be in critical danger. After years of weak banking crises across the Eurozone from Greece, Italy, Ireland, Portugal, Spain, Cyprus and more is now reaching Germany's most important and the Eurozone's most important bank. Not helped by a record $14 billion fine by the Americans which may be a coincidence but looks rather suspiciously like Americans enacting revenge on the EU's record fine on Apple.

Deutsche is surely the mother of all "too big to fail" banks and the idea that Germany will stick with its line of not bailing out the bank if it became necessary seems completely implausible. It is hard to see the German economy or the Eurozone surviving Deutsche facing the same fate as Lehman Brothers. It is equally hard to see how Merkel could survive needing to bail out Deutsche either. If Deutsche goes under then it could make 2008 look like an easy time.