ML-Implode News - It Is NOT Priced-In, Stupid!

What has transpired in a relative heartbeat is that one of the four central banks of the world that matter is suddenlyÂ on the ropes. In the hours and days ahead, the ECB will be battered by desperate actions emanating from Athens, as it struggles with a violent meltdown of its banking and payments system; and it will be simultaneouslyÂ stymied and paralyzed by an outbreak of public confusion, contention and recrimination among the politicians and apparatchiks who run the machinery of the Eurozone and ECB superstate.
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But this time there is a decent chance that even the concerted central banks of the world will not be able to contain the panic. That's because the blind confidence of the caribou soccer players will be sorely tested by the possibility that the ECB will be exposed as impotent in the face of a cascading crisis in the euro debt markets.

We saw an article this morning that assured the Greek crisis would be "contained." That reminded us of 2007... and sent shivers up our spine...

Relevant:

It Is NOT Priced-In, Stupid! | David Stockman