You are here

Europe

European Banking Bloodbath Spreads To Spain After Italy Fires €20 Billion "Bazooka" At €360 Billion Problem

European Banking Bloodbath Spreads To Spain After Italy Fires €20 Billion "Bazooka" At €360 Billion Problem

Total chaos reigns in European banking stocks this morning as Monte Paschi shares crash, soar, and plunge amid on-again, off-again bail-in, bail-out headlines (and stocks and bonds hit record lows). However, Italy is now not alone as Spanish banks are also bloodbathing following a European Court ruling on mortgage fraud went against them.

Dow At All Time High, Dollar Dips, Europe Lower Dragged By Sliding Spanish, Italian Banks

Dow At All Time High, Dollar Dips, Europe Lower Dragged By Sliding Spanish, Italian Banks

US equity futures and Asian stocks were unchanged while European stocks declined after touching the highest level in almost a year, as Italian and Spanish banks dragged indexes lower. The dollar eased back from 14-year highs as bond yields fell on Wednesday and oil extended its advance in increasingly thin trading.

Open Letter To Bavaria Minister-President Horst Seehofer

Submitted by a Zero Hedge reader who wishes to remain anonymous:

OPEN LETTER TO MINISTER-PRESIDENT SEEHOFER(Sent before the carnage in Berlin's Christmas market)

Dear Minister-President Seehofer,

I would like to commend you on your opposition to mass uncontrolled immigration into Europe. One would think that it would be trivial to praise politicians – who are elected to uphold law and order, meaning our culture and values – for doing so, but these are the times we are living in.

Pages