Monday 24 October 2011

European Vacation



Lots of great stuff from Zerohedge and Mike Shedlock on the weekend's European Comedy Capers...

Zerohedge:

European Finance Ministers Driven To Despair As Reality Returns (grim)

Greek Writedowns - Let's Do ONE Thing Correctly (defining default?)

They Can't Even Coordinate Press Conferences (more comedy)

Guest Post: The European Financial Crisis In One Graphic: The Dominoes Of Debt (more serious)

Summarizing The Sheer Chaos In Europe: 9 Meetings In 5 Days

Europe Goes Full Bailout Retard: EFSF Rescue Capital To Be Officially Double-Counted (back to comedy)

Watch Merkozy Cracking Up Following Question If Italy Can Implement Reforms (now even they are laughing)



Mike Shedlock (about 4 days of amazing Keystone Kops style silly stuff in chronological order):


Leveraged EFSF Violates Maastricht Treaty; "Merkozy" Master Plan Comes Unglued

EU Commissioner Seeks to Prohibit Rating Agencies from Rating Stressed Debt; IMF Report on Greece Held Up in Dispute with EU

Merkel Cancels Speech to Parliament; "Merkozy Marbles"

Euro Summit Statement "Leaked" Draft Looks Like Swiss Cheese; 10-Point Proposal for More Meetings

EU Given Rope, Hangs Itself

Magic Turns 340 Billion Euros Into 940 Billion Euros; Six-Day Marathon of Lies, Deceit Underway

Late Payments in Spain Soar to 7.14%, Highest Since 1994; Portugal Economy Expected to Contract More than Forecast in 2012

EU Diplomatic Source Says Worst Case Scenario Would Consume Entire EFSF, Haircut of "At Least 50%" Coming or IMF will Not Proceed

EU Finance Ministers Decide to Force Banks to Take Bigger Greek Bond Losses, Recapitalize by $140 Billion; Amount Insufficient, Few Other Details

"Resurrection of Dead" Stories by The Telegraph (US of E? Getting hilarious)

EU is reporting "Progress" but None of it is Meaningful







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