The European Court of Justice refused to listen.
Its new role as “debt-buyer of first resort” raises a whole litany of concerns.
The “death of the dollar” will have to be rescheduled.
Teetering Eurozone banks exposed to flying shrapnel.
Banks cannot be allowed, at any cost, to suffer the consequences of their own chronic mismanagement, or worse.
Is “ugly” the right word?
At a breath-taking pace. Default rate spikes. US stocks at record.
So who’s going to bail out the banks?
It all began when Slovenian Police, acting on an insider tip, raided the headquarters of the central bank and a state-owned bank. €257 million in bank bailout money is alleged to have disappeared. How much money could be made to disappear in Italy’s bank bailout?
Risk of contagion in Italy and far beyond would be huge.