Either the YesMen have infiltrated Italy's biggest, and most undercapitalied, bank, or the stress of constant, repeated lying and prevarication has finally gotten to the very people who know their livelihoods hang by a thread, and the second the great ponzi is unwound their jobs, careers, and entire way of life will be gone.
I nominate that as the best opening sentence I have read.
Back on topic, more Europe, more leverage, more debt, more regulation, better five year plans and, of course, faster money printers. Watching Merkel trying to liquidate her own country to keep the fantasy alive and being held back by all that inconvenient democracy would be hilarious if she wasn't so serious about it. Before we all get too complacent about the current eurofest we should remember that Germany has a Constitution and a sort of functioning democracy. When the tide hits these shores we have nothing more than banksters and their puppets looking out for our well being. Oops. Perhaps we should save the mirth eh?
The chain reaction may well have started. No matter how bad it gets you can bet that the masters of the "beneficial crisis" are burning the midnight oil. It will all be different next time of course. The solution will be "global". Read UN. Never been in one, but they say survivors of a ship wreck always head for the largest floating object remaining.
As to loosing the "derivatives market" - I'm pretty sure you will all be calling for the death penalty for derivative traders when you figure out why a tiny economy like Greece could cause a global collapse. Welcome to what our overlords fear most and understand least
(yes - those are trillions and not billions)
Tick, tock, tick, tock