Monti Goes M.A.D.; Sees "Permanent Risk Of Contagion In Euro-Zone"

Tyler Durden's picture


We can only assume that the technocrat-in-chief of Italy, Mario Monti, has read the second chapter of 'how to be a European leader' as he switches from Juncker's "When it's bad, you have to lie" mantra to "Maybe the real truth will scare 'em into it" as he pushes the spending of other people's money and a growth agenda (which of course will solve all the insolvency problems). As Bloomberg reports, the blackmail negotiations threats continue:


Perhaps he just noticed the underperformance of Italian bonds the last day or two and just how this will rapidly spill back into his back-yard.

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 06/08/2012 - 15:18 | 2508306 mrktwtch2
mrktwtch2's picture

it all depends on your defintion of "is"

Fri, 06/08/2012 - 15:23 | 2508334 dlmaniac
dlmaniac's picture

Well there are known knowns; there are things we know that we know. There are known unknowns; that is to say there are things that, we now know we don't know. But there are also unknown unknowns – there are things we do not know, we don't know.

Fri, 06/08/2012 - 15:26 | 2508347 MillionDollarBonus_
MillionDollarBonus_'s picture

Greece needs to host another sports event to boost their economy. The Olympics was simply insufficient to stimulate aggregate demand.
London is currently benefitting from huge spending programs centred around the Olympics. In addition the whole of the UK is getting a lift from the spirit and soul of the Olympics, which I predict will filter through to the economy.  

Fri, 06/08/2012 - 15:28 | 2508355 azzhatter
azzhatter's picture

Maybe schedule quarterly Olympics, that should do it

Fri, 06/08/2012 - 15:33 | 2508377 magpie
magpie's picture

I believe simultaneous wars and Olympic Games are a win-win proposition. Keynes, Coubertin and Krugman. Noble Prize Winning.

Fri, 06/08/2012 - 21:28 | 2509415 PersonalRespons...
PersonalResponsibility's picture

On the mark tonight.  Sleep well knowing you hit the spot.  More like this please.

Fri, 06/08/2012 - 15:18 | 2508308 slow_roast
slow_roast's picture


Fri, 06/08/2012 - 15:22 | 2508329 Overflow-admin
Overflow-admin's picture

We should have a long ETF on that!

Fri, 06/08/2012 - 15:23 | 2508336 john39
john39's picture

why can't we just choose "growth" as a policy?  /sarc

Fri, 06/08/2012 - 15:44 | 2508408 Village Smithy
Village Smithy's picture

That's what gets me they throw "growth" around like it's a simple choice. No mention of the fact that the pie is getting smaller every day and that the fight for a piece is getting more desperate.

Fri, 06/08/2012 - 15:32 | 2508374 hedgehog9999
hedgehog9999's picture

As night follows day contagion will happen not only to Monti but to others as well, Tim Geithner comes to mind as he tries to peddle his paper.... luckily for him he 's only got less than a year to do that....peddling and begging that is....

Sat, 06/09/2012 - 02:50 | 2509756 Peter Pan
Peter Pan's picture

Italy would be better off handing over control of the economy to the Mafia. The Mafia at least does not have a record of having caused a recession/depression.

Fri, 06/08/2012 - 15:19 | 2508311 SilverTree
SilverTree's picture


Fri, 06/08/2012 - 15:19 | 2508316 nobusiness
nobusiness's picture

Will anyone ever do the right thing and tells the banks "no more money, have your bond holders take a loss and move on"

Fri, 06/08/2012 - 15:23 | 2508332 NotApplicable
NotApplicable's picture

You've been here far too long to be expressing thoughts like that.

Or did I miss the /sarc /rhetorical tags?

Fri, 06/08/2012 - 15:25 | 2508342 mayhem_korner
mayhem_korner's picture

no more money, have your bond holders take a loss and move on"


Those words will not be uttered until all of the bonds held by the banks are transferred to the sheep.  That is the de-facto marching orders of the CBs at this point.

Fri, 06/08/2012 - 15:30 | 2508366 LULZBank
LULZBank's picture

"no more money, have your bond holders take a loss and move on"

Well someone would just do that, but then it starts again. New set of bond holders and new set of bond issuance and the whole thing starts again. Its not like after all this we're going to hard currency, sensible and sustainable economic model.

Fri, 06/08/2012 - 15:20 | 2508317 rajat_bhatia
rajat_bhatia's picture

look at the spy, that should wipe out every worry, no?

Fri, 06/08/2012 - 15:20 | 2508321 tiger
tiger's picture

it is so good to laugh, thanks tyler

Fri, 06/08/2012 - 15:23 | 2508322 BlandJoe24
BlandJoe24's picture

Tyler and Bruce have hinted that the SNB may unpeg EURCHF or repeg at 1.10  - and  possibly do it soon or even very soon (this weekend?).  What do you guys see as happening to EURUSD and USDCHF if this happens?

Fri, 06/08/2012 - 17:54 | 2508905 Whalley World
Whalley World's picture

the euro, USD and CHF, all you need for a game of thee bill monti.  My guess is they all fall down!

Fri, 06/08/2012 - 15:20 | 2508323 Overflow-admin
Overflow-admin's picture

The zombie is out of the woods!

Fri, 06/08/2012 - 15:20 | 2508324 Conman
Conman's picture

So boys and girls, what have we learned this week?

1. To juice the markets, dont annoucne any actual solutions just announce that you are having teleconferences, i guess stocks such as Polycom who benefit from teleconfrences brign up the market 500 points.

2. Dont actually do QE, just leak information out about QE.

3. Baffle them with bullshit, lie then tell the truth, then lie again.

4. Distract them from the fact that nothing has changed in Europe, asia, or the US since last week yet we have and are still rallying.


Fri, 06/08/2012 - 15:33 | 2508378 catacl1sm
catacl1sm's picture

It's been that way since Oct '11. If it's still working, why switch tactics?

Fri, 06/08/2012 - 15:37 | 2508388 Conman
Conman's picture

Not quite, at least in late '11 there were actual programs implemented although we all know they were just kick the can programs. Now we just have  imaginary stimulus. I guess imaginary is good enough.

Fri, 06/08/2012 - 15:58 | 2508450 LULZBank
LULZBank's picture

To juice the markets,

But Tylers was saying the traders were listening to Obama's speech etc to get to know where the focus and flow would be and how to trade that.

He did'nt say anything more or how that valuabe information is used by the traders, so thanks for clarifying.

Fri, 06/08/2012 - 15:21 | 2508325 ziggy59
ziggy59's picture

No shit Sherlock.

Fri, 06/08/2012 - 15:21 | 2508328 101 years and c...
101 years and counting's picture

just gonna whip up some growth.  if only they thought about that a few years ago.

are you fucking kidding me.

Fri, 06/08/2012 - 18:44 | 2509067 Cow
Cow's picture

too funny.  I was thinking the same thing. 

Just gonna hit that GROWTH button and vroom, baby!  That's how politicians think.  "Why we'll just poor some sugar in right here...." Don't worry about the after effects.  We need growth NOW!!!

It's so easy to grow a company that actually makes or sells shit people need and want to buy.



Fri, 06/08/2012 - 21:26 | 2509413 Ropingdown
Ropingdown's picture

Italy's been trying to find some growth for ten years.  If they can't do it in ten, are they saying the Germans could do it for them in one?  They tried the whole "borrow lots of money and spend it" thing but the world keeps saying "Mario, Mario, look you owe all this money!"

Fri, 06/08/2012 - 15:23 | 2508333 mayhem_korner
mayhem_korner's picture



"Permanent risk" is a first-order contradiction in terms.

Fri, 06/08/2012 - 15:26 | 2508344 NotApplicable
NotApplicable's picture


Fri, 06/08/2012 - 15:26 | 2508348 slewie the pi-rat
slewie the pi-rat's picture

cue:  duelingMarios (vying for our mario-nette attention?)

here we have mariopizza resonding to marioECB yes! we have no bananas!

ya can't make this shit up, BiCheZ!

Fri, 06/08/2012 - 15:26 | 2508349 azzhatter
azzhatter's picture

We need that growth strategy as opposed to the non-growth strategy we've been operating on. This fucking piece of shit Monti thinks he can just magically develop growth. How about you fucking quit spending money on useless bureaucrats in Brussels and quit taxing people to death so they have money to spend you little jackoff worm. Better yet, go fuck yourself

Fri, 06/08/2012 - 21:24 | 2509408 Ropingdown
Ropingdown's picture

Better yet one of those very large porn-star guys does it for him.

Fri, 06/08/2012 - 15:27 | 2508353 carbonmutant
carbonmutant's picture

The major weakness in all cartels is that at some point self interest will trump the contract.


Fri, 06/08/2012 - 15:28 | 2508357 williambanzai7
williambanzai7's picture


Fri, 06/08/2012 - 15:40 | 2508390 LeonardoFibonacci
LeonardoFibonacci's picture

Is that a FANGUL black hole ?

Fri, 06/08/2012 - 15:41 | 2508401 slackrabbit
slackrabbit's picture

Your pic can also be used for the 'flight to safety' bond market....

Fri, 06/08/2012 - 15:30 | 2508364 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Quick!  Take your euros out of the banks and stash them under your mattress!  That will save you!

Fri, 06/08/2012 - 15:32 | 2508375 PaperBear
PaperBear's picture

Is anyone surprised the contagion has not been contained ? Not me.

Fri, 06/08/2012 - 15:35 | 2508384 catacl1sm
catacl1sm's picture

Pretty soon they'll have to use the last resort and just nuke all of Europe to stop the spread.

Fri, 06/08/2012 - 15:33 | 2508379 BlandJoe24
BlandJoe24's picture

3:30pm EST Friday

Attention Markets: 



Fri, 06/08/2012 - 15:40 | 2508397 slackrabbit
slackrabbit's picture

Mario Don't Spanic! ;-)

Fri, 06/08/2012 - 15:41 | 2508399 Dr. Engali
Dr. Engali's picture

Market ....must ....not...fade.....before.........close......

Fri, 06/08/2012 - 15:59 | 2508457 world_debt_slave
world_debt_slave's picture

Monti says "stand on your head"

Fri, 06/08/2012 - 16:17 | 2508554 canardo
canardo's picture

Two words: screw Monti. The guy's not even elected ffs.

Fri, 06/08/2012 - 16:10 | 2508521 Tsar Pointless
Tsar Pointless's picture


Do NOT follow this link or you will be banned from the site!