Goody!.It's been a few weekends since we've been treated to another comedy packed emergency euro-crisis talkfest. Just for laughs how about another round of stress tests or shove in another "technocrat". With talk of multiple cities in Spain and Italy on deaths door,and crazy loco bonds,this is ripe for a PPT 250 Pt Dow last hour miracle if I've ever seen one! Go amigos. Profits to all.BMD
The "Blacklist" - Ten Italian Cities On Verge Of Financial Collapse Submitted by Tyler Durden on 07/23/2012 07:24 -0400
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Last week when we wrote about the imminent default of Sicily which Mario Monti tried to sweep under the rug by demanding the local governor resign for not masking the situation with lies, and doing all he can to prevent the advent of reality, we noted, rather sarcastically, that the "resignation of Sicily Governor Lombardo will somehow allow all those who care about the fundamentals of Italy to stick their heads in the sand... at least until Sicily is followed by Calabria, Campania, Lazio, Abruzzo, Tuscany, Lombardy, Umbria, Liguria, Veneto and so on. At least the governors of those respective provinces now have an advance warning what the endgame is." Sure enough, now that this particular floodgate has also been opened, it is only fitting that in the aftermath of this weekend's main news that a total of 6 Spanish regions will demand bailouts, that Italy follow suit with its own blacklist, and as La Stampa has reported, there are now ten major Italian cities at risk of an imminent financial collapse, yet another factor pushing Italian yields well on their way to the country's own 7% rubicon, now at 6.34%.
