Wednesday, February 11, 2009

Uh, Oh....keep your eye on Europe!

"European banks may need massive bail-out"

"European banks sitting on £16.3 trillion of toxic assets may suffer massive losses, according to a confidential Brussels document. "

"In line with the risk, and the weak performance of some EU economies compared to others, investors are demanding increasingly higher interest to lend to countries such as Italy instead of Germany. Ministers and officials fear that the process could lead to vicious spiral that threatens to tear both the euro and the EU apart."

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