Will there be mass bailout of European banks?

Mike Ruppert’s comments are priceless -

Wait! -- I thought it was the banks who were supposed to bail out Europe... Or was it Greece? No wait!... That's right Japan is going to bail out Europe... But there's nobody to bail out Japan. China declined to bail out Europe... But wait! China is imploding.

Who's going to bail out China? The Fed?... No wait, that's the other way around... Maybe Brazil or Apple can save us...

For the love of everything alive, stop this madness now. End the way money works. As Richard Heinberg just said, "There is life after growth." It can be good for those who make the transition. If you want it, be on the right side of history. Occupy everything! -- MCR 

BBC

There are some European regulators and politicians who regard the downgrade of Italy and the woes of the Franco-Belgian bank Dexia as positive events (oh yes) - because they hope that these serious but containable shocks will speed eurozone governments into taking credible, evasive action ahead of more devastating shocks.

And there were signs from yesterday's Ecofin meeting that European finance ministers increasingly recognise the need to strengthen European banks, so that the banks can better absorb losses on loans to European nations with excessive debts.

For article GO HERE