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German town fears huge loss on Greensill bank investment
The potential loss to Monheim am Rhein equates to about €1,000 per inhabitant. Germany s financial regulator has frozen the Greensill bank s operations.
The Bremen-based bank s operations were frozen by the German finance watchdog on Wednesday
The mayor of a small German town warned on Thursday it could lose about €38 million ($46 million) invested in Greensill Bank.
Monheim am Rhein, a town of just over 42,000 people between Cologne and Düsseldorf, is set to lose about €1,000 per person.
It is possible that we lose the entire amount of invested money, mayor Daniel Zimmermann told council members in a letter. The audit team of the town is set to meet on Tuesday to discuss the matter. ....

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