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Bank Of Italy Says Interest Payments On Debt Subject To Great Uncertainty

Tyler Durden's picture


Just Reuters headlines for now: all Europe needs is another risk flare up.


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Thu, 06/10/2010 - 11:50 | Link to Comment etrader
etrader's picture

That should be good enough reason for GS "to try" and get the right way round now its  rolled over its  1K upside down S&P Big ones.....



Thu, 06/10/2010 - 11:54 | Link to Comment bingaling
bingaling's picture

The reporter who broke the story is Angela Merkel . Can't have the Euro over 1.20 now can we?

Thu, 06/10/2010 - 11:55 | Link to Comment Cheeky Bastard
Cheeky Bastard's picture

Fucking Draghi. The man singlehandedly pushed Italy to were it is now. 

Thu, 06/10/2010 - 11:56 | Link to Comment goldfreak
goldfreak's picture

former Goldman man--disgraziato!!

Thu, 06/10/2010 - 12:10 | Link to Comment ZerOhead
ZerOhead's picture

Ha!... All of PIGSHItaly is ugly!

Thu, 06/10/2010 - 12:11 | Link to Comment mudduck
mudduck's picture

Gotta love Tuco. Good thing I was there when it happened Blondie. One of the best movie bad guys ever.

Thu, 06/10/2010 - 14:17 | Link to Comment trav7777
trav7777's picture

concur.  I liked Simon Phoenix too

Thu, 06/10/2010 - 14:50 | Link to Comment trav7777
trav7777's picture


Thu, 06/10/2010 - 11:59 | Link to Comment Mitchman
Mitchman's picture

Ah,  this looks like a good reason for the algos to go add another 100 points on the positive side of the dow, don't you think?

Thu, 06/10/2010 - 12:03 | Link to Comment Kina
Kina's picture

GS to BB ..need conveyor belt between stock exchange and print press. Please Hurry.



Thu, 06/10/2010 - 12:06 | Link to Comment Mako
Mako's picture

Z1 just released.

Not good... -$202B(q2q) for Q1 2010 at $52.126T from $52.902T in Q1 2009.  Credit system is collapsing.


Thu, 06/10/2010 - 12:12 | Link to Comment ghostfaceinvestah
ghostfaceinvestah's picture

Which table are you looking at?

Just looking at the summary table, it demonstrates what commentors here have been pointing out for months - private debt is down, public debt is growing.

Obviously not sustainable, but net debt is still growing, feeding the exponential equation.

Thu, 06/10/2010 - 12:39 | Link to Comment Mako
Mako's picture


Total credit market debt.

Total credit/debt is being destroyed at an -$800B annualized rate.

2007 Peak : $4.7T(quarterly rate annualized)

2008 Unable to expand at rate needed ($2.589T)

2009 Started collapsing....($-261B)

2010 Continue collapsing... ($-808B Q1 annualized)

.... eventually liquidation

You are correct though, without the Federal government you would probably be sitting in Mad Max right now, without their debt creation it would probably be negative $2T if not much more.  Eventually they will be flatten by the oncoming train.


Thu, 06/10/2010 - 13:02 | Link to Comment Dr. No
Dr. No's picture

"You are correct though, without the Federal government you would probably be sitting in Mad Max right now"

I would love to see some of these guys "Face the Wheel" !!

Thu, 06/10/2010 - 13:14 | Link to Comment Mako
Mako's picture

Most will face their own personal "face the wheel", as we all will.

Mon, 06/20/2011 - 18:23 | Link to Comment Hremas
Hremas's picture

Maybe is not only europe..


forex signals

Thu, 06/10/2010 - 12:09 | Link to Comment EManBevHills
EManBevHills's picture

Lovely.  Have a happy Weekend, everyone!

Thu, 06/10/2010 - 12:13 | Link to Comment mm17101978
mm17101978's picture

As an Italian and a ZH lover, I completely agree on Draghi. Former Goldman man and people here don't know that (most don't) and I can't stand him, as a person as well as a bank thief. About time to pack and move away, at last (considering I am 31)? Best wishes to all ZH readers, writer and to TD!

Thu, 06/10/2010 - 12:14 | Link to Comment Biggvs
Biggvs's picture

So some Italian fat cat more or less asked for a ratings downgrade so their interest rates can skyrocket? Was he lubed up with a few too many Cinzanos, or was this headline just taken out of context?

Thu, 06/10/2010 - 12:16 | Link to Comment SteveNYC
SteveNYC's picture

That's ok, today we have 200 DOW points we can give them to help them pay interest. Bernanke, quick, to the chopper.....

Thu, 06/10/2010 - 12:50 | Link to Comment etrader
etrader's picture

Below 1036 (ES) would be better now GS is the right way round after the fun a games

they had to play with the Big SP Contracts.

Thu, 06/10/2010 - 12:22 | Link to Comment carbonmutant
carbonmutant's picture

" Bank of Italy Director Salvatore Rossi, speaking before Senate hearing, said Italy’s interest payments on debt were subject to great uncertainty and that a 1% rise or fall in interest rates on debt maturing from 2011 would cut or hike the 2012 deficit by 0.5 percentage points"


Thu, 06/10/2010 - 12:48 | Link to Comment jbc77
jbc77's picture

Looks like this headline caused a haircut on the Euro. Good.

Thu, 06/10/2010 - 12:52 | Link to Comment JacksWastedLife
JacksWastedLife's picture

There are no shortage with paper, paint and electricity.

Thu, 06/10/2010 - 14:20 | Link to Comment MarketTruth
MarketTruth's picture

Now THERE is an idea, the USA could default on the INTEREST payments to the private member owned Federal Reserve. That sounds like a good plan to me.

Wed, 06/16/2010 - 14:37 | Link to Comment UpShotKnotHoleGrable
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