Submitted by Tyler Durden on 10/25/2011 - 10:31 Bond European Union Eurozone Italy Monetization Newspaper Sovereign Debt
Certainly not helping European sentiment is the report from the FT that "Silvio Berlusconi’s centre-right coalition government in Italy appears in danger of collapsing over European Union demands for a demonstration of concrete action on economic reform by Wednesday’s summit of eurozone leaders. The EU ultimatum delivered to Mr Berlusconi in Brussels on Sunday risks breaking his coalition instead of giving it an external impetus to move ahead on measures to cut Italy’s debt and promote economic growth." So you mean that extending the retirement age by a few hours is not credible reform? That surely is news to Bunga Bunga. And after all, remember the dedication with which Italy promised it would promptly enforce austerity after it was admitted to the SMP bond monetization program, only to completely forget all promises 48 hours later? It seems Europe, which has had enough of being humiliated by the corrupt pederast, has remembered: "The ultimatum was delivered as part of efforts to resolve the eurozone sovereign debt crisis, but the Italians’ failure to reach agreement on reform threatens EU leaders’ stated goal of finalising at Wednesday’s summit a comprehensive solution to the crisis." So the question is: how long before The Guardian refutes all FT speculation that Italy is scuttled with a well-timed rumor at 3:45pm?
