European Markets Get Destroyed Today

Anyone catch the end of the various European stock markets today? Whoa!

European markets got destroyed today, with Italy—in particular, Italian banks—leading the carnage.

FTSE 100: -1.91%
CAC 40: -2.97%
DAX: -3.41%
FTSE MIB: -3.83%
IBEX 35: -2.91%

Italian banks led those losses, with Intesa Sanpaolo halted after it fell 6.47 percent, according to Reuters reporter Michel Rose.

Intesa Sanpaolo: -6.47%
UBI Banca: -5.19%
Banca MPS: -5.26%
UniCredit: -6.42%

The angst was driven by political events over the weekend—French elections, the collapse of the Dutch coalition—as well as sour economic data.

Europe Ends With Total Carnage, Italy Plunges Nearly 4%

Related to this is what came out this past Saturday:

IMF warns Europe not to ease up debt battle

From the article:

An infusion of hundreds of billions of dollars will give the International Monetary Fund a badly needed boost to tackle Europe's prolonged debt crisis. But global finance officials sent a strong message Saturday that struggling governments must speed reforms or risk spooking jittery markets and raising the economic danger.

The lending agency said in a statement after its weekend meetings that financially-strapped European countries must put in place bold changes to resolve their debt problems. The IMF received $430 billion in pledges from individual countries, nearly doubling the agency's reserves available for loans to almost $1 trillion.

"It is nice to have a big umbrella," Managing Director Christine Lagarde said at a news conference. She and other officials said the new money should reassure financial markets troubled recently by the prospect that Spain could come next to the IMF for emergency loans to escape a default.

"She and other officials said the new money should reassure financial markets troubled recently by the prospect that Spain could come next to the IMF for emergency loans to escape a default."

Sorry, doesn't look like it had quite the effect you were hoping for Ms. Lagarde.

I'm beginning to believe that the sound you are hearing are the dominoes beginning to fall.

Hope I'm wrong, but more and more evidence that some really hard times are a-coming.

Now. Anyone want to discuss the big economic recovery we are experiencing?

reply to post by Hessling

The IMF received $430 billion in pledges from individual countries

How much of that 430 billion is from tax payer's pockets?

it's going to get far worse before it gets better. when you have the IMF bailing out country's that have been robbed by the banksters, only to give that money back to the banksters to pay interest, well what do you have left?

it's an ugly joke, but hopefully it will be on them in the end.

you have the same thing in America, the Fed is run by banksters, the same institutions that are leveraged collectively over 300 trillion, so the Fed orders bail outs for their partners, compliments of the American tax payer. oh and they charge us interest.

Originally posted by Ericthenewbie
reply to post by Hessling

 

The IMF received $430 billion in pledges from individual countries

How much of that 430 billion is from tax payer's pockets?

Here in Norway they stole billions directly from the peoples pension fund and just handed it over to IMF behind our backs.

reply to post by LittleBlackEagle


You are so right. It is an ugly joke.

And only the Banksters are laughing.

It is 4 or 5 years I realized this f... scam. From that time I try to explain to my friends what is happening around. Any time I use term "monetary" they stop listening. At least I was able to convince my parents to withdraw money from investment funds and buy house with small piece of farmland at nice, sustainable location. It was finished just 14 days ago.

And in next week's news.....

European markets rallied today, with Italy—in particular, Italian banks—leading the rally.

FTSE 100: +1.91%
CAC 40: +2.97%
DAX: +3.41%
FTSE MIB: +3.83%
IBEX 35: +2.91%

Italian banks led those gains, with Intesa Sanpaolo halted after it gained 6.47 percent, according to Reuters reporter Michel Rose.

Intesa Sanpaolo: +6.47%
UBI Banca: +5.19%
Banca MPS: +5.26%
UniCredit: +6.42%

The excitement was driven by political events over the weekend—French elections, the consolidation of the Dutch coalition—as well as positive economic data.

Originally posted by juleol

Originally posted by Ericthenewbie
reply to post by Hessling

 

The IMF received $430 billion in pledges from individual countries

How much of that 430 billion is from tax payer's pockets?

Here in Norway they stole billions directly from the peoples pension fund and just handed it over to IMF behind our backs.

Aye, they won't rest until they have every last penny off us all I reckon. UK govt just gave them £15 billion on the one hand,, then turned around and ordered MPs to find another £16 billion in cuts with the other. Just like that.

peace
J

Originally posted by Ericthenewbie
reply to post by Hessling

 

The IMF received $430 billion in pledges from individual countries

How much of that 430 billion is from tax payer's pockets?

All of it. No such thing as 'government money', it's all ours, taken in taxes, and squandered for the most part.

peace
J

reply to post by skjalddis


It was rhetorical question

So what did I say above? Well I must of been almost a week out.

Europe stocks rebound as banks rise