Guardian: Reports that the MD of the IMF, former French Finance Minister Christine Lagarde has “ ..urged Europe's leaders to bail out their fragile banks.. ”. This will be a tough sell for EU leaders folks, a 2nd bailout would be a political nightmare, if UK Banks needed a bailout there would be demos on the streets, how much grief can banks expect to get away with after the 1st bailout. One can postulate that the Coalition Government would have a hard time getting a bailout through the House of Commons. When it comes to the banks folks it’s the unknowns, how much debt do the banks themselves not know they have on their books. Grim times ahead folks.
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