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Central Banker Mario Draghi Sees Structure of Euro Zone as ‘Unsustainable’
"In what may have been his bluntest criticism of political leaders since taking office in November, Mr. Draghi said that half-measures and delays by political leaders have made the euro zone crisis worse. He said they need to decide what kind of euro zone they want. "
lol. It is unsustainable. That said, as I noted last week, there are people with deep pockets (such as Carlos Slim) who are going to be very happy to come in and pick up the pieces when the European situation starts falling apart (which it inevitably will.)
My favorite of the day from Mr. Draghi.............."ECB will continue to support solvent banks." AHH....., a most crucial use of words, eh? Who will define "solvent", and will you please step forward with the fully audited books.
And Geo. Orwell thought he wrote a good book, OMG; the spinsters must have read 1984 at least 20 times as they sit by the warm fireplace with a couple of bottles of good wine.
Comments
http://www.businessweek.com/printer/articles/87820?type=bloomberg
And Geo. Orwell thought he wrote a good book, OMG; the spinsters must have read 1984 at least 20 times as they sit by the warm fireplace with a couple of bottles of good wine.
As for this: "Who will define "solvent", and will you please step forward with the fully audited books. "
Things like this: "Bankia Parent Revises 2011 "Profit" Of €41 Million to €3.3 Billion Loss"
http://www.zerohedge.com/news/bankia-parent-revises-2011-profit-€41-million-€33-billion-loss
CNBC also now saying that JPM loss could (read: almost certainly will) exceed $5B. Some articles have suggested it could be very far North of that.