timber i'm not sure if those losses are so easily provisioned or...

timber i'm not sure if those losses are so easily provisioned or accepted.

the problem is contagion. this is not just an EU issue. morgan stanley's european bank exposure is possibly 3 times its market cap, and well over its entire book equity value.

economies are too intertwined with foreign financial institutions for this to be an orderly default.

no doubt as you say the FED and ECB would likely inject more QE, but even this is becoming a challenge. there is a global groundswell against the notion of taxpayers continually being put on the hook to rectify issues as a result of poor banking practices and greed.