The EU – The dream is about over…It will not be a good morning

11 Oct

The Bump In The Night

…the IMF has made two things quite clear. Number one is that they will not give Greece any more money and number two is that they expect Europe to take the unavoidable financial hit and that it will not be them that is going to get left holding the proverbial bag. Now the public bondholders of Greece have already been whacked and even with a modest extension of two years in payments Greece would need $25-40 billion in new funding as Austria and the Netherlands have said they are done providing money.

“Dead man walking” would be the accurate phrase. I will tell you; when there is no place left to run and no place left to hide then it is “tag and you are it” and Europe is now days away from getting tagged….

But they’ll try to hang on until November 7….

 

Zero Hedge

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