ITALY DEBT IN FOCUS - Bad Loans, Bad Bank

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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #200 on: September 01, 2016, 12:24:31 PM »
Milan Prosecutors Seek To Shelve Probe Against Monte Paschi: “It Could Undermine Investor Sentiment”
1 September 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-09-01/milan-prosecutors-seek-shelve-probe-against-monte-paschi-it-could-undermine-investor
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Offline Letsbereal

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Re: Vatican Signs Financial-Cooperation Agreement With Bank of Italy
« Reply #201 on: September 04, 2016, 12:53:30 AM »
Vatican Signs Financial-Cooperation Agreement With Bank of Italy
26 July 2016
, by Alessandro Speciale (Bloomberg)
http://www.bloomberg.com/news/articles/2016-07-26/vatican-signs-financial-cooperation-agreement-with-bank-of-italy

- Deal latest step in reform effort started by Pope Benedict XVI

- Vatican, Italy to cooperate in fight against illicit actions

Finally got an answer on this article after I emailed Jim Willie:

JW: Bull shit nonsense just a better lie to cover their vast trafficking in narcotics and children.

Me: Didn’t take the article that literally and was reading between the lines and wondering if vatican gold could be used for a new gold backed Italian currency?

JW: Vatican wants Italy to enter a depression not a recovery they are Satanists, not philanthropists you have it backwards.

Me: OK clear answer TnX!
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #202 on: September 07, 2016, 08:20:42 PM »
Italy Funding Panic? Target2 Liabilities Unexpectedly Soar To Record High
7 September 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-09-07/italy-funding-panic-target2-liabilities-unexpectedly-soar-record-high
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #203 on: September 14, 2016, 03:39:46 AM »
Investors reluctant to back Monte Paschi's cash call
13 September 2016
, by Simon Jessop and Maiya Keidan - London (Reuters)
http://www.reuters.com/article/us-eurozone-banks-italy-montedeipaschi-idUSKCN11J2C0

Monte Paschi's touted new CEO in Frankfurt to meet ECB: source
13 September 2016
, by Paola Arosio - Milan (Reuters)
http://www.reuters.com/article/us-eurozone-banks-italy-montepaschi-idUSKCN11J1D1
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #204 on: September 17, 2016, 01:49:03 PM »
George Friedman: Italy Is the Mother of All Systemic Threats
17 September 2016
, by George Friedman - Mauldin Economics (Zero Hedge)
http://www.zerohedge.com/news/2016-09-17/george-friedman-italy-mother-all-systemic-threats

Banks were simply carrying loans as non-performing that were actually in default and discounting the NPLs rather than writing them off. But that only hid the obvious.

As much as 17% of Italy’s loans will not be repaid. This will crush Italian banks' balance sheets. And this will not only be in Italy.



Much of Europe’s problems were generated in the U.S. Europe bought 70% of faulty triple A-stamped MBS’s so when Lehman went down this highly affected the European banking system.

Kicking the U.S. out of Europe and concentrating on Russia and China would do Europe a great deal of good. Most of Germany’s growing export markets are in Russia and Asia anyways.

Disassembling NATO, dominated by Langley, will make Europe a much saver place.

Not to say that Italy hasn't got big problems but eventually they all were generated by the real 'Mother of All Systemic Threats' the U.S. of A.


Volkswagen says it might not resume U.S. sales of diesel vehicles http://www.reuters.com/article/us-volkswagen-emissions-diesel-idUSKCN11K2LN
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #205 on: September 18, 2016, 09:24:45 PM »
JPMorgan, Mediobanca, Citi arranging bridge loan in Monte dei Paschi deal
16 September 2016
, (Reuters)
http://www.reuters.com/article/us-eurozone-banks-monte-paschi-bridge-lo-idUSKCN11M1DI

Mediobanca, JP Morgan and Citi are arranging a bridge loan needed for a 28 billion euro ($31 billion) bad loan sale which is part of an emergency rescue plan at Monte dei Paschi di Siena, the chief executive of Quaestio Asset Management said.
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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #206 on: September 22, 2016, 09:51:20 PM »
Monte Paschi Rescue On The Rocks: Regulators Now "Expect Bank To Ask Italy For Bailout"
22 September 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-09-22/monte-paschi-rescue-rocks-regulators-now-expect-bank-ask-italy-bailout

Exclusive: Regulators expect Monte dei Paschi to ask Italy for help - sources
22 September 2016
, by John O'Donnell - London (Reuters)
http://www.reuters.com/article/us-italy-banks-montedeipaschi-idUSKCN11S1UG
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #207 on: September 23, 2016, 05:04:02 AM »
Italy Is The EU's Weakest Link
22 September 2016
, by George Frideman - Mauldin Economics (Zero Hedge)
http://www.zerohedge.com/news/2016-09-22/italy-eus-weakest-link
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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #208 on: October 04, 2016, 03:19:49 AM »
Italy Prepares For "Impact From Hypothetical Worsening" Of Deutsche Bank "Crisis"
3 October 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-10-03/italy-prepares-impact-hypothetical-worsening-deutsche-bank-crisis

Italian Bond Yields Jump After Rome Confirms It Will Issue 50 Year Bonds
3 October 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-10-03/italian-bond-yields-jump-after-rome-confirms-it-will-issue-50-year-bonds
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #209 on: October 10, 2016, 03:05:20 PM »
Here's Where The Next Bank Deposit "Bail-In" Will Strike...
10 October 2016
, by Nick Giambruno - International Man (Zero Hedge)
http://www.zerohedge.com/news/2016-10-10/heres-where-next-bank-deposit-bail-will-strike

Once a deposit is made at the bank, it's no longer your property. It's the bank's.
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #210 on: October 15, 2016, 08:22:06 PM »
Italy court accepts Monte dei Paschi settlement request: source
14 October 2016
, by Tim Kelly - Tokyo (Reuters)
http://www.reuters.com/article/us-montedeipaschi-court-idUSKBN12E0TO

The settlement with Monte dei Paschi involves the seizure of 10 million euros and a fine of 600,000 euros, the source said.
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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #211 on: October 17, 2016, 12:49:02 PM »
Italy Bank Merger Largest Since 2007: Banco Popolare, Banca Pop di Milano (Deal Solves Nothing)
16 October 2016
, by Michael Shedlock (Mishtalk)
https://mishtalk.com/2016/10/16/italy-bank-merger-largest-since-2007-banco-popolare-banca-pop-di-milano/
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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #212 on: October 25, 2016, 09:16:56 AM »
Monte Paschi Plunges As Much As 39% On Debt-For-Equity Fears After Surging In Past Week
25 October 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-10-25/monte-paschi-plunges-much-39-debt-equity-fears-after-surging-past-week
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #213 on: October 30, 2016, 07:50:30 PM »
Monte dei Paschi to offer debt conversion to all bondholders http://www.reuters.com/article/us-eurozone-banks-monte-dei-paschi-conve-idUSKCN12P1QR

Italian bank Monte Paschi gambles on turnaround by year-end http://www.reuters.com/article/us-eurozone-banks-italy-monte-dei-paschi-idUSKCN12P1UP

Shares in Monte dei Paschi suspended from trading after 23 percent drop http://www.reuters.com/article/us-eurozone-banks-monte-dei-paschi-stock-idUSKCN12P159

Italy's Monte dei Paschi set to approve business plan http://www.reuters.com/article/us-eurozone-banks-italy-monte-dei-paschi-idUSKCN12O130

Monte dei Paschi envisages 1,600 layoffs in new plan: union rep http://www.reuters.com/article/us-eurozone-banks-montepaschi-layoffs-idUSKCN12O26S

Monte dei Paschi board approves business plan: board member http://www.reuters.com/article/us-eurozone-banks-montepaschi-plan-idUSKCN12O233

Italy's front line in fight to save banks: a storage room http://www.reuters.com/article/us-eurozone-banks-italy-badloans-idUSKCN12N0HM

REUTERS 23-25 Oct.
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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #214 on: November 01, 2016, 10:37:19 AM »
Italy Seen More Likely To Exit Eurozone Than Greece; Italian Bond Yields Surge
1 November 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-11-01/italy-seen-more-likely-exit-eurozone-greece-italian-bond-yields-surge
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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #215 on: November 07, 2016, 08:31:44 AM »
Monte dei Paschi set to name shareholder Falciai chairman: sources http://www.reuters.com/article/us-eurozone-banks-italy-montedeipaschi-idUSKBN1300ME

Italy watchdog to summon Monte dei Paschi, Passera over dropped rescue plan: source http://www.reuters.com/article/us-eurozone-banks-italy-watchdog-idUSKBN12X23U

Monte dei Paschi board unanimously backed reply to Passera: chairman http://www.reuters.com/article/us-eurozone-banks-italy-montepaschi-idUSKBN12X1OD

Italian banker drops rival rescue plan for Monte dei Paschi http://www.reuters.com/article/us-eurozone-banks-montedeipaschi-passera-idUSKBN12W3QT

REUTERS 1-7 Nov.
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Offline Letsbereal

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Monte Paschi Begins Bondholder "Bail-In"
« Reply #216 on: November 15, 2016, 04:21:40 AM »
Monte Paschi Begins Bondholder "Bail-In": Will Equitize Over €4 Billion In Junior Bonds
14 November 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-11-14/monte-paschi-begins-bondholer-bail-will-equitize-over-%E2%82%AC4-billion-junior-bonds

Excerpt:

Monte Paschi's long anticipated, if largely undesired bail-in is finally a fact.

So while we wait to learn if Monte Paschi will be successful in raising the critical outside cash, here is what Monte Paschi's bail-in, pardon debt conversion will look like, according to sources including Ansa, Bloomberg and Reuters:

    - Monte Paschi approves voluntary debt-to-equity swap offer

    - Offer to target subordinated bonds for total outstanding amount of 4.289 billion euros; will offer between 20-100 percent of nominal value in bond swap offer

    - Holders of ~€4.5 billion of subordinated bonds will be able to convert them to shares

    - Bank is also considering possibility of launching conversion into equity of 1 billion euros of Fresh 2008 bonds

    - Senior bonds not included in the voluntary conversion plan

    - The bank is also considering conversion plan for EU1b of hybrid bonds

    - The conversion price is seen at 85% of nominal value for riskier Tier 1 bonds, according to Ansa sources.

    - The Conversion price is seen at 100% of nominal value for less risky Tier 2 bonds

    - Monte Paschi will acquire €700m of MPS Capital Trust II securities, also Tier 1, at 20%

    - It will also acquire seven series of BMPS subordinated debt at 100%

    - Offer open to investors classified as “qualified investors” only for Upper Tier 2 securities


In the aftermath of this announcement, keep an eye not so much on the Monte Paschi's stock price, which may jump on the news that the bank will soon have a lower debt load (even if it means diluting the equity) as deposit activity - and especially outflows - at this and other Italian banks.
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #217 on: November 20, 2016, 12:56:37 AM »
What Did Draghi Know About Potential Loss And Abuses At Italy's Largest Bank?
19 November 2016
, by Jesse's Cafe Americain (Zero Hedge)
http://www.zerohedge.com/news/2016-11-19/what-did-draghi-know-about-potential-loss-and-abuses-italys-largest-bank
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #218 on: November 20, 2016, 12:01:57 PM »
Italy won't bend budget plan for EU, says Renzi advisor
16 November 2016
, by Marc Jones - London (Reuters)
http://www.reuters.com/article/us-italy-referendum-idUSKBN13B2HU

Monte dei Paschi shareholders approve vital capital boost
24 November 2016
, by Stefano Bernabei - Siena, Italy (Reuters)
http://www.reuters.com/article/us-eurozone-banks-italy-monte-paschi-idUSKBN13J17E
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #219 on: November 27, 2016, 09:06:18 PM »
Up To Eight Italian Banks May Fail If Renzi Loses Referendum
27 November 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-11-27/eight-italian-banks-may-fail-if-renzi-loses-referendum

Trump And Draghi May Bring A Return Of The "European Solvency Crisis": Barclays
27 November 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-11-27/trump-and-draghi-may-bring-return-european-solvency-crisis-barclays
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #220 on: November 29, 2016, 01:11:21 PM »
Brexit Redux: ECB Ready To Buy More Italian Bonds If Referendum "Rocks Markets"
29 November 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-11-29/brexit-redux-ecb-ready-buy-more-italian-bonds-if-referendum-rocks-markets

"Highly Skeptical" JPMorgan Slams Reuters' ECB "Sources" Story On Italy
29 November 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-11-29/highly-skeptical-jpmorgan-slams-reuters-ecb-sources-story-italy

Monte dei Paschi faces potential legal claims for $8.5 billion: document
28 November 2016
, (Reuters)
http://www.reuters.com/article/us-eurozone-banks-montepaschi-prospectus-idUSKBN13N10K
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #221 on: December 04, 2016, 11:50:39 PM »
All Eyes On Monte Paschi, Whose Bailout Is Now In Doubt, And Italian Bank Sector Contagion
4 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-04/all-eyes-monte-paschi-whose-bailout-now-doubt-and-italian-bank-sector-contagion

For those who have not been following the seeming endless bailout saga, and growing crisis, at Italy's third largest - and most insolvent - bank, here is the quick rundown:

    - 2007:  Monte dei Paschi buys Banca Antonveneta for EUR9.3 Billion

    - 2011:  European stress test finds the bank has a capital hole of EUR3.3 billion

    - 2012:  MPS's chairman and top management are replaced

    - 2013:  The lender borrows EUR4 billion from the government to stay afloat

    - June 2014: MPS raises EUR5 billion in fresh capital and pays back EUR3 billion of the government loan

    - Nov. 2014:  New stress tests find the bank the worst capitalized lender in Europe. The ECB takes over as its supervisor. The bank is officially declared up for sale

    - 2015:  MPS raises EUR3 billion in fresh capital and pays back the rest of the government loan

    - 2016:  Announces plan to raise EUR5 billion and sell EUR28 billion in bad loans


Moments ago, the FT reported what we said yesterday in an article according to which the "rescue for the world’s oldest surviving bank Monte dei Paschi di Siena has been thrown into doubt after reformist prime minister Matteo Renzi decisively lost a referendum on constitutional reform on Sunday."


Burning Down the House - Talking Heads https://www.youtube.com/watch?v=xNnAvTTaJjM
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Offline Letsbereal

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Italy’s Monte Paschi Told To “Prepare For State Bailout”
« Reply #222 on: December 06, 2016, 02:44:43 PM »
Italy’s Monte Paschi Told To “Prepare For State Bailout” http://www.zerohedge.com/news/2016-12-06/italys-monte-paschi-told-prepare-state-bailout

Italian Government Prepares To Nationalize Monte Paschi http://www.zerohedge.com/news/2016-12-06/italian-government-prepares-nationalize-monte-paschi

Fitch Cuts Outlook For Italian Banks To Negative Due To High Bad Debt, Referendum Vote Risks http://www.zerohedge.com/news/2016-12-06/fitch-cuts-outlook-italian-banks-negative-due-high-bad-debt-referendum-vote-risks

Euro, BTPs Hit On Local Reports Italy May Hold Early Elections http://www.zerohedge.com/news/2016-12-06/euro-btps-hit-local-reports-italy-may-hold-early-elections

Italian Constitutional Court To Hold January 24 Hearing On Electoral Law http://www.zerohedge.com/news/2016-12-06/italian-constitutional-court-hold-january-24-hearing-electoral-law
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Offline Letsbereal

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Moody's Cuts Italy Ratings Outlook To Negative
« Reply #223 on: December 07, 2016, 08:17:01 PM »
Moody's Cuts Italy Ratings Outlook To Negative
7 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-07/moodys-cuts-italy-ratings-outlook-negative

Italy Threatens ECB With Blackmail; Demands More Time For Monte Paschi Rescue
7 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-07/italy-threatens-ecb-blackmail-demands-more-time-monte-paschi-rescue
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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #224 on: December 08, 2016, 03:24:07 PM »
The Next Domino Falls As Predicted... Here's What Comes Next
8 December 2016
, by Nick Giambruno - International Man (Zero Hedge)
http://www.zerohedge.com/news/2016-12-08/next-domino-falls-predicted-heres-what-comes-next
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Offline Letsbereal

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The Italian bank just went “Poof, then it’s gone!”
« Reply #225 on: December 09, 2016, 09:56:21 AM »
The Italian bank just went Poof, then it’s gone!https://www.youtube.com/watch?v=FJNRVptyb9Y

Listening to Jim Willie https://www.youtube.com/watch?v=P9PKU-iSn0k I again realize that the shit could hit the fan rather sooner than later.

Of course I know that things can get very exponential very quickly all of a sudden but when it actual happens it’s again a shock of conformation of all the nasty things that would happen.

And since the Banks all entangled in each other it goes something like this with the chained barrels representing the banks in this vivid example https://youtu.be/QeKIbD9CqZk?t=2m21s

So this also means now the French banks get infected while all the losses on the Greek case still have to be written off. And after Italy has left the monetary union Greece will soon follow.

The Danish always have kept their Krones and maybe they did have a point there after all.

The Danish very cunningly accept Euro’s everywhere and you get change in Viking tourist money with big holes in it, essentially worthless air coins.

That could benefit Greece as well but Germany will want to keep Greece in the monetary union because it keeps the Euro cheap so that Germany can stimulate exports.

Greece doesn’t have that many exports so the relative strong Euro for them doesn’t help them at all but many Greek people are still blinded by their early Drachma-Euro switch richdums, and still want to cling to the Euro.

Eventually it won’t work like it doesn’t work right now for Italy. And Italy is 10x Greece.

Belgium Luxembourg, the Netherlands, Germany and Austria is a strong currency block but they don’t want that so they need the weaker brothers in the EMU to keep the Euro low although keeping the Euro low isn’t the worst of problems at their minds now.

The Action plan is what they always do, and are used to, namely just try to kill the next bush-fire before an other one breaks out.

But after the banksters having followed that bush-fire trail for a while they will find the real big fire, which everybody knew was there but was never mentioned openly.

So surprise, surprise, “Well, lookee what we have herehttps://www.getyarn.io/yarn-clip/f6598d08-b739-4711-b671-05253299b278
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Offline Letsbereal

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ECB Rejects Monte Paschi Request For More Time To Raise Capital
« Reply #226 on: December 09, 2016, 11:46:52 AM »
ECB Calls Italy's Bluff, Rejects Monte Paschi Request For More Time To Raise Capital
9 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-09/ecb-calls-italys-bluff-rejects-monte-paschi-request-more-time-raise-capital

Monte Paschi Stock, Bonds Collapse After ECB Rejection
9 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-09/monte-paschi-stock-bonds-collapse-after-ecb-rejection

The Angry German Press Reacts To Draghi's QExtension
9 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-09/angry-german-press-reacts-draghis-qextension
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #227 on: December 11, 2016, 10:41:20 PM »
Monte Paschi "Scrambles" With Last Minute Capital Increase To Avoid Nationalization
11 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-11/monte-paschi-scrambles-last-minute-capital-increase-avoid-nationalization
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #228 on: December 16, 2016, 08:26:59 PM »
Paschi Gets Approval to Extend Bond Swap Offer to Dec. 21
16 December 2016
, by Sonia Sirletti (Bloomberg)
https://www.bloomberg.com/news/articles/2016-12-16/monte-paschi-gets-approval-to-extend-bond-swap-offer-to-dec-21

- Bank will seek to exchange FRESH bonds at 23.2% of face value

- Precautionary state intervention still likely: IMI analyst

Banca Monte dei Paschi di Siena SpA received regulatory approval to extend a debt-for-equity swap in a last-ditch effort to raise 5 billion euros ($5.2 billion) privately and avoid a state rescue.
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #229 on: December 18, 2016, 11:18:34 AM »
Monte Paschi Launches Share Sale To Avoid State Rescue As Germany Warns Against Taxpayer Bailout
18 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-18/monte-paschi-launches-share-sale-avoid-state-rescue-germany-warns-against-taxpayer-b
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Offline Letsbereal

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Italy Seeks Authorization To Raise National Debt To Fund Bank Bailouts
« Reply #230 on: December 19, 2016, 01:58:14 PM »
Italy Seeks Authorization To Raise National Debt To Fund Bank Bailouts, As BMPS Rescue Plan In Jeopardy
19 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-19/italy-cabinet-seeks-authorization-raise-national-debt-fund-bank-bailouts


So here’s the surprise monkey roaring it’s ugly head from under the sleeve!



The elephant has left the room. It hates surprise monkeys.
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Offline Letsbereal

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Italy To Nationalize Monte Paschi After Private Sector Rescue Fails
« Reply #231 on: December 22, 2016, 09:45:41 AM »
It's Official: Italy Will Nationalize Monte Paschi http://www.zerohedge.com/news/2016-12-22/its-official-monte-paschi-asks-italian-government-bailout

Italy To Nationalize Monte Paschi After Private Sector Rescue Fails http://www.zerohedge.com/news/2016-12-21/italy-nationalize-monte-paschi-after-private-sector-rescue-fails

Italy Proves That Banks Are Not The Risk-Free Fantasy We're Told To Believe http://www.zerohedge.com/news/2016-12-22/italy-proves-banks-are-not-risk-free-fantasy-were-told-believe

Italian Government To Meet At 7:30PM CET To Approve Monte Paschi Nationalization http://www.zerohedge.com/news/2016-12-22/italian-government-meet-730pm-cet-approve-monte-paschi-nationalization

Monte Paschi Crashes To All Time Low, Rebounds After Government Agrees To Fund Bank Bailouts http://www.zerohedge.com/news/2016-12-21/monte-paschi-crashes-all-time-low-rebounds-after-government-agrees-fund-bank-bailout

Monte Paschi Private Bailout On Edge Of Collapse As "Potential Anchor Investors Balk" http://www.zerohedge.com/news/2016-12-20/monte-paschi-private-bailout-edge-collapse-potential-anchor-investors-balk

Brace Yourself For Italy's Bankruptcy http://www.zerohedge.com/news/2016-12-20/brace-yourself-italys-bankruptcy

Today Charles is exercised about Italy. He first reminds us that when Italy adopted the euro in 1999, he had argued that Italy would change from being an economy with a high probability of many currency devaluations to one with the certain probability of eventual bankruptcy. Now, he says, the fateful moment is not far off.

This has to be the most well-telegraphed, and now inevitable, national bankruptcy that I have seen in my 45-year career.

Still, from 1979 to 1998 Italian industrial production outpaced that of Germany by more than 10%, while Italian equities outperformed German equivalents by 16% (this indicates that Italian firms were earning a higher return on invested capital than those in Germany).

Then came the euro. By 2003 it was clear that Italy was uncompetitive and subsequently, Italian equities have underperformed German equities by -65%, reversing the previous half century’s pattern when Italian equities outperformed on a total return basis. Similarly, since 2003 Italian factory output has lagged Germany’s by 40%.

European Banking Bloodbath Spreads To Spain After Italy Fires €20 Billion "Bazooka" At €360 Billion Problem http://www.zerohedge.com/news/2016-12-21/european-banking-bloodbath-spreads-spain-after-italy-fires-%E2%82%AC20-billion-bazooka-%E2%82%AC360-

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.
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Offline Letsbereal

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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #232 on: December 29, 2016, 05:07:27 AM »
The Italian Bank Run: Monte Paschi Capital Shortfall Surges 75% To €8.8Bn Due To "Rapid Liquidity Deterioration"
26 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-26/italian-bank-run-monte-paschi-capital-shortfall-surges-75-%E2%82%AC88bn-due-rapid-liquidity-

Italy Slams ECB For Revealing It Has A "Bank Run" Problem
29 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-29/italy-slams-ecb-revealing-it-has-bank-run-problem
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Re: ITALY DEBT IN FOCUS - Bad Loans, Bad Bank
« Reply #233 on: December 30, 2016, 09:55:50 AM »
Italy's Insolvent Monte Paschi To Issue €15 Billion In Debt
30 December 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-12-30/italys-insolvent-monte-paschi-issue-%E2%82%AC15-billion-debt
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