Close The Public Trough

France got away with it for a longtime, bending the EU rules as the organization's second largest economy. It's all part of the big dogs get fed first.

Now Italy, the EU's third largest economy, wants its place at the bailout or bail-in trough. Anyone surprised here. One of the huge phony recovery stories since 2008 was that anything got fixed, that anything changed. It didn't. That's just part of what Brexit is about. Another part is the pubic trough.

Change is afoot on a global scale and it could get pretty ugly, but it's a change, or changes, to be more precise, long overdue. Change never goes down easily. The false MSM meme that debt and money printing don't matter is now coming home to roost. Debt either gets defaulted on or inflated away by wars.

We're now talking trillions here and it will never be repaid. And in case you have not been paying attention, the elites are trying to gear up the rubes for another conflict. Central banks have made a complete mess of things, but what would one expect of  a group of distance academics and bureaucrats huddled around a committee table?

Italy's ongoing attempts to bend Europe's bail-in rules and revert to the "older" bailout protocol continue to run into problems. The latest confirmation came from Eurogroup head Jeroen Dijsselbloem who earlier today said he was not "particularly" worried about Italian banks. More interesting was his insistence that “there have always been and will always be bankers that say ’we need more public money to recapitalize our banks.... and I will resist that very strongly because it is, again and again, hitting on the taxpayer." He then added that "the problems with the banks need to be sorted out in the banks and by banks.”

He sided further with the Merkel camp when he said that he finds the ease in which bankers ask for public funds to sort out problems is “very problematic.”
Dijsselbloem added that “there has to come an end to” bankers asking politicians to solve their problems.
His statement comes just a day after David Folkerts-Landau, the chief economist of Deutsche Bank, called for a €150 billion bailout for European banks, confirming that it is no longer just an "Italian" issue.
Dijsselbloem's further comments showed that he won't be easily swayed absent a market-wide panic and/or a steep slump in the economy

The only problem, Dijsselbloem either by accident or purpose forgot to include politicians need to quite causing these problems and balance their own spending. Close the public trough.

zerohedge.com/news/2016-07-11/eurogroup-head-dashes-italy-bank-bailout-hopes-i-will-resist-taxpayer-bailouts-very-