Re: Re: Eurozone and World Saved! Ha, Ha!!!


Farce is indeed the right word but the markets seem to have bought it ……. for now. The devils in the detail as always.
A 50% loss by mostly French banks has to be paid for. Banks don’t voluntary take a hit unless it’s been underwritten by someone.
A haircut is a default in any other name and the CDS mechanism should be kicking in.
I would very much like to know who is picking up the tab.