Italy's Unelected PM Mario Monti: "Eurobonds, Or I Resign"

Tyler Durden's picture


Update: According to subsequent press reports, Monty has denied he threatened to resign. i.e., Monti just blinked. So now it is up to Merkel who will either have a very short life, or Monti will have to come up with a different professional suicide gambit.

Just when we thought the European drama couldn't get any more poignant following Merkel's statement earlier which boils down to "No eurobonds or death", here comes Italy's unelected PM and former Goldmanite, Mario Monti, threatening that the beggar will pull the trigger on his own political career if he is not allowed to be a chooser. From Il Giornale: "If the Chancellor does not give up I will tell you that I resign because if things do not change are not able to bring Italy out of the abyss", he suggested relying on the bogeyman of the crisis that would bring Italy under attack of speculators. On the other hand, Merkel knows all too well that the fall of Rome would mean the collapse of the definitive ' euros by prospects that would put the shivers even in Berlin." So one hand for Merkel Eurobonds are a matter of life or death, while an elected technocrat with no leverage at all, threatens to quit. Our money is on the German.

One person who we are quite certain would be delighted if Merkel were to call Monti's bluff, is none other than everyone's favorite Bunga Bunga specialist: Silvio Berlusconi.

After all the plane has obviously crashed into the mountain. Might as well make the last few hours entertaining.

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Tue, 06/26/2012 - 12:00 | 2561865 sbenard
sbenard's picture

Go ahead! Make my day, Mario! Resign!!

Tue, 06/26/2012 - 12:01 | 2561868 silver500
silver500's picture

Next, Eurobonds or the world ends...

Tue, 06/26/2012 - 12:04 | 2561890 HelluvaEngineer
HelluvaEngineer's picture

NATO tanks in the streets, bitchez!

Tue, 06/26/2012 - 12:07 | 2561902 knukles
knukles's picture

Just say no!

Hold that man to that promise.

Just like we shoulda held all the uberliberals to their promise to leave the US if Bush was elected and all the neo-cons to leave if Obama was elected.
Send 'em to MarioLand

Tue, 06/26/2012 - 12:10 | 2561924 Colombian Gringo
Colombian Gringo's picture

Monti threatening to Resign?


Go one better and hump off a building, you Fucker!

Tue, 06/26/2012 - 12:13 | 2561933 francis_sawyer
francis_sawyer's picture

Freeze! Or the dummy gets it!... I didn't realize Monti was a ventriliquist...

Tue, 06/26/2012 - 12:27 | 2561998 FEDbuster
FEDbuster's picture

Isn't anybody going to help that poor man?.....

Tue, 06/26/2012 - 13:05 | 2562122 11b40
11b40's picture

This is exactly the scene I was thinking of when reading this.  One of the funniest movies ever.  You have to watch it at least twice to catch all the lines.

Tue, 06/26/2012 - 13:22 | 2562171 Day_Of_The_Tentacle
Day_Of_The_Tentacle's picture

I was thinking about Mannequin.

Tue, 06/26/2012 - 12:12 | 2561934 Manthong
Manthong's picture


Tue, 06/26/2012 - 12:15 | 2561950 Arius
Arius's picture

CD - pull up that picture from the 80s movie of the white guy putting the gun on black guys head warning everyone: none moves or the black guy gets it!

... yeah right ...

Tue, 06/26/2012 - 12:17 | 2561959 francis_sawyer
francis_sawyer's picture

How come the picture up there is of Berlusconi grabbing his dick?

Tue, 06/26/2012 - 12:36 | 2562027 knukles
knukles's picture

It's the formal, respectful form of greeting to refined, cultured Italian females.  Best accompanied by the salutation; "Yo' Angeline..."   Which when translated into English means "Mount me." which is a derivation of the name Monti.

What a fucking circus.

Tue, 06/26/2012 - 13:47 | 2562240 Iwanttoknow
Iwanttoknow's picture

Knuckles,coffee on my screen.really funny.

Tue, 06/26/2012 - 12:48 | 2562068 Arnold Ziffel
Arnold Ziffel's picture

Did Michael Jackson copy Mario? ...or other way Mario doing the "Jackson Grab & Lift"?

...or is he sending a secret signal to the Germans?

In any case, Seemed much better when Jackson did it.

Tue, 06/26/2012 - 12:49 | 2562073 Taterboy
Taterboy's picture

Because Bernanke bit down.

Tue, 06/26/2012 - 12:20 | 2561972 CrazyCooter
CrazyCooter's picture

I think the similar scene from Blazing Saddles would be even better ... I can't youtube (at work), so maybe some old timer will share that moment with the younger ZH audience ...



Tue, 06/26/2012 - 12:29 | 2562007 FEDbuster
FEDbuster's picture

Done, see post above.

Tue, 06/26/2012 - 12:13 | 2561892 CPL
CPL's picture

I counter with tits or GTFO Monti


gold has now been designated a zero risk asset....after 40 years.

Tue, 06/26/2012 - 13:09 | 2562134 NotApplicable
NotApplicable's picture

I like this line (emphasis mine).

For the first time, unencumbered gold bullion is to be classified as zero risk, in line with dollar cash, US Treasuries and other explicitly government-guaranteed assets.

Not for long.

Exeter's Pyramid, bitchez!

Tue, 06/26/2012 - 12:10 | 2561929 Stoploss
Stoploss's picture

Adios, Mario!

Tue, 06/26/2012 - 12:48 | 2562071 reload
reload's picture

If he does resign, do the Italian people get a free election or another unelected placeman?

Or does current `government` so uncomfortably forced together get to sit down calmly and choose a new PM?

Fireworks in any scenario I would think, unless the population is just too lethargic to care any more. But I think

the Italians do still care...fireworks it will probably be.

Wed, 06/27/2012 - 03:23 | 2564243 Ar-Pharazôn
Ar-Pharazôn's picture

italian adults are too busy looking at the soccer matches.

italian youth is watching big brother 13 and buying versace, gucci, etc etc


who do you think is going to use fireworks? perhaps the governement..........................

Tue, 06/26/2012 - 12:19 | 2561961 insanelysane
insanelysane's picture

Rephased.  Let us create more worthless paper (eurobond certificate) or the world ends.  Germany is going to get kicked out of the Zone.

Tue, 06/26/2012 - 12:11 | 2561900 Urban Roman
Urban Roman's picture

Don't let the screen door hit ya ...

(and quit playin' with yer dick)

[edit] Never mind, I see, it's a picture of that other Italian. Does anyone have a picture of Mario?

Tue, 06/26/2012 - 12:18 | 2561960 battle axe
battle axe's picture

Mario Resign, Greece default, Germany bail on the Euro, etc etc etc. We all sort of know what will and should happen, lets get on with it, Euro go Boom. 

Tue, 06/26/2012 - 12:42 | 2562055 azzhatter
azzhatter's picture

but...but...what about the belgians

Tue, 06/26/2012 - 12:48 | 2562065 Sudden Debt
Sudden Debt's picture

We keep a low profile for now....
But soon....



Tue, 06/26/2012 - 16:00 | 2562676 Ghordius
Ghordius's picture

+1 OK, count me in. but only if you keep having often no government, this is the most appealing part of Belgium

Tue, 06/26/2012 - 12:30 | 2562010 williambanzai7
williambanzai7's picture


Tue, 06/26/2012 - 12:37 | 2562040 milanitaly
milanitaly's picture

Exactly. If we crash, germany will crash too.

Germany didn't learn Mussolini's lesson.

Tue, 06/26/2012 - 12:50 | 2562074 Sudden Debt
Sudden Debt's picture

So if... The italians... Dn't get what they want....
They'll hang one of their own?.....
And this will scare the germans.... Because....

Tue, 06/26/2012 - 13:21 | 2562168 milanitaly
milanitaly's picture

They said as you the same thing during the second world war.

German never won a war and never paid enough for that.

We will see this time.

Tue, 06/26/2012 - 13:34 | 2562203 EscapeKey
EscapeKey's picture

Amazing how lippy an Italian can be on the topic:

According to the Paris Peace Treaties, 1947Italy agreed to pay reparations of about US$125 million to Yugoslavia, US$105 million to Greece, US$100 million to the Soviet Union, US$25 million to Ethiopia, and US$5 million to Albania.


After World War II, according to the Potsdam conference held between July 17 and August 2, 1945, Germany was to pay the Allies US$23 billion mainly in machinery and manufacturing plants.

"intellectual reparations" taken by the U.S. and the UK amounted to close to $10 billion

Germany paid Israel 450 million DM in Holocaust reparations, and paid 3 billion DM to the World Jewish Congress to compensate survivors in other countries.

So, that makes Italian reparations less than $500m, and German about $34bn, and of all things you choose to pick on Germany for this?


Wed, 06/27/2012 - 16:32 | 2566288 Analyse2
Analyse2's picture

True, but it is Germany which began the war, and also Italy did less harm than Germany, by far ...

Tue, 06/26/2012 - 14:29 | 2562362 walküre
walküre's picture

Dare to make a wager on Thursday's game? If Germany wins, no ESM. If Italy wins, all the ESM you canna stuffa in your pantsa (but without Germany).


Tue, 06/26/2012 - 12:56 | 2562093 gjp
gjp's picture

Love it!  WB, you're the best

Tue, 06/26/2012 - 13:22 | 2562172 Clayton Bigsby
Clayton Bigsby's picture

That picture is fucking priceless - LOL'ed on that deal - nicely done...

Tue, 06/26/2012 - 14:58 | 2562439 noses
noses's picture

Merkel: No Euro-Bonds as long as I'm breathing

I guess Monti just shot his own foot.


Tue, 06/26/2012 - 12:01 | 2561867 Fips_OnTheSpot
Fips_OnTheSpot's picture

Greek PM accepts resignation of deputy minister over links to offshore firm

Tue, 06/26/2012 - 12:01 | 2561870 Conman
Conman's picture

Time to go long popcorn and comfy seating.

Tue, 06/26/2012 - 12:01 | 2561871 fuu
fuu's picture

Pretty sure Angela wants to live more than you want to work so...

Tue, 06/26/2012 - 12:09 | 2561923 Raynja
Raynja's picture

But it's God's work

Tue, 06/26/2012 - 13:11 | 2562137 NotApplicable
NotApplicable's picture

Can't they just settle this like adults and conduct a duel?

Tue, 06/26/2012 - 13:34 | 2562207 fuu
fuu's picture

I volunteer to be the second for both of them. I know I am better with a rapier, epee, and pistol than either of them.

Tue, 06/26/2012 - 12:02 | 2561872 JackT
JackT's picture

Don't let the door hit ya where the Good Lord split ya!

Tue, 06/26/2012 - 12:02 | 2561874 doomandbloom
doomandbloom's picture

Hand over the money...else ill shoot .,..( myself)

Tue, 06/26/2012 - 12:02 | 2561875 mrktwtch2
mrktwtch2's picture

how do you say fuck off in german..she should tell that greasy wop to go take a hike..

Tue, 06/26/2012 - 12:11 | 2561915 Abraxas
Abraxas's picture

Fuchen absiegatchen willen umschtrauflindenberg!!!

edit: if German speaking folk can't understand the above, it's because it's not in the hoch Deutsch. It's one of the dialects.

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