Roubini Says A 'Sovereign' Bank Will Soon Crack, Crashing Credibility of Governments

Here's what I'm talking about:
10:07 20Feb09 RTRS-GERMANY STUDYING POSSIBLE RESCUE MEASURES FOR OTHER EURO ZONE STATES IN FINANCIAL TROUBLE
10:08 20Feb09 RTRS-POSSIBLE GERMAN RESCUE MEASURES INCLUDE "BILATERAL BOND" FOR EURO ZONE STATES IN TROUBLE
10:10 20Feb09 RTRS-GERMANY ALSO LOOKING AT JOINT BOND ISSUED BY RICHER COUNTRIES
10:11 20Feb09 RTRS-GERMANY ALSO LOOKING AT EU RESCUE PACKAGE THAT COULD STAND ALONE, OR BE ORGANISED WITH IMF

 

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ah.WXkCpEdyE#

 

Ooooops, ze Germans are repudiating it now...
11:17 20Feb2009 RTRS-GERMAN FINANCE MINISTRY SAYS SPIEGEL REPORT ON EURO BOND ISSUES DOES NOT CORRESPOND WITH FACTS
11:18 20Feb2009 RTRS-GERMAN FINANCE MINISTRY SAYS NOT WORKING ON CONCEPTS DESCRIBED IN SPIEGEL ARTICLE
11:18 20Feb2009 RTRS-GERMAN FINANCE MINISTRY SAYS HAS NO DOUBTS ABOUT STABILITY OF EURO ZONE
11:19 20Feb2009 RTRS-GERMAN FINANCE MINISTRY SAYS WIDENING BOND SPREADS ISSUE FOR EU COMMISSION, ECB AND EUROGROUP
11:20 20Feb2009 RTRS-GERMAN FINANCE MINISTRY SAYS IMPORTANT TO SEND SIGNAL TO MARKETS VIA BUDGET DISCIPLINE
11:21 20Feb2009 RTRS-GERMAN FINMIN - STABILITY PACT REMAINS IMPORTANT, ALSO STRUCTURAL REFORMS TO IMPROVE COMPETITIVENESS
11:21 20Feb2009 RTRS-GERMAN FINMIN SAYS ANYTHING BEYOND THAT "THEORETICAL CONSIDERATIONS"

 

Trichet is clearly delusional. Alzheimer and demetia taking their toll?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aDoH.xeBrFGA&refer=home

ECB’s Trichet Says Ireland Is Not ‘Weak Link’ in Euro Region

Feb. 20 (Bloomberg) -- European Central Bank President Jean-Claude Trichet said it’s a mistake to say the euro region has any weak links and rejected concern about Ireland’s position.

“Ireland is not the weak link of the euro area and there is no weak link of the euro area,” Trichet said in Paris, when asked about Ireland. “I consider that speaking of any particular country as a weak link in the euro area is an error of judgement.”

 

Don't be silly...

What do you expect the President of the European Central Bank to say? 'I hereby declare that one of the countries within the Eurozone is the weakest link. And guess who the lucky winner is? Yes, it's Ireland, everyone!'

 

UNICREDIT.it

 

I actually expected him to note his worries about entrenched inflation expectations and to express his reluctance about the ECB ending up in a "liquidity trap".

Oh wait that was 2 weeks ago

 

He's just reading the data, and coming to a conclusion. Everyones calling the guy a perma-bear because everything he says is bad.....but guess what, all the news 'is' bad