“Rapidly Becoming Untenable” – Eurozone Finances Have Deteriorated

Zero Hedge: Under “Whatever it takes” Mario Draghi, the ECB used every trick to cover over the cracks of a failing Eurozone. At the heart of the trickery was bad debt being concealed within the TARGET2 settlement system. It is only by this subterfuge that major banks have been prevented from failing. The Eurozone’s largest banks are over-leveraged, and their share prices question their survival. Furthermore, these banks will have to contract their balance sheets to comply with the