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:
- *MONTI SAYS THERE IS PERMANENT RISK OF CONTAGION IN EURO ZONE
- *MONTI SAYS SPAIN BEING DEALT WITH PROMPTLY, ADEQUATELY
- *MONTI SAYS EU NEEDS GROWTH POLICIES QUICKLY TO STOP CONTAGION
- *MONTI SAYS MARKETS DEMANDING EUROPEAN GROWTH
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.