Is Europe Preparing To Ban Rating Agency Downgrades, As It Sets Off On Weekly Farce Tests?
Who needs The Onion, when you have Europe. Reuters quotes EU's Rehn as saying that bank stress tests will need to be a regular occurrence in the future of the EU: in other words, every time banks drop by 20% or so, the European Department of Truth will trot out the another piig zombie de jour, plastered with lipstick and demonstrate just how viable it is. Just because everyone believes what an honest and solvent Europe has to say. But here's the kicker: headline floating by that Europe may well be preparing to ban all sovereign downgrades. After all, how dare someone suggest that Europe's ponzi has any way to go but up.
BN *EU WILL DISCUSS NEW RULES FOR SOVEREIGN DEBT RATINGS
BN *SOVEREIGN DEBT CREDIT RATINGS FACE EU DEMAND FOR TRANSPARENCY
BN *EU WILL DISCUSS PROPOSALS AT MEETING TOMORROW
BN *BELGIUM'S REYNDERS: NEED CONTINUOUS MONITORING OF FIN SYSTEMS
At this point we are more concerned about Commedy Channel's viewership as everyone focuses on the hourly stand up coming from the EU, than Europe actually succeeding in fooling anyone it won't be insolvent in a year or less.