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Bill Blain was right on the banks. What he says now is shocking

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Société Générale was the latest European bank to see its share price plunge this Wednesday. Its stock fell around 12% towards the end of the session after it downgraded its earnings' expectations. Bill Blain, Mint Partners' Head of Capital Markets, said back in June last year that he was 'massively concerned about European banks'. Now he tells us his predictions are coming true.
Bill says we're seeing a perfect storm of negativity on the markets, the result, among other things, of negative interest rates and continuing non-perfomring loans on bank balance sheet; Deutsche Bank has seen its share price tumble around 40% this year alone. He also calls so-called CoCo bonds a 'Frankenstein' creation that is now putting banks at even more risk. Bill is convinced there's worse to come and the ensuing chaos will result in some form of European banking crisis which will be perilously difficult to solve.