Europe Getting Smashed, US Futures Slide, As European Commission President Basically Admits Defeat

For a moment, I was getting really worried, but not any more....

White House Press Secretary Jay Carney said Thursday the Obama administration is monitoring the debt crisis in Europe closely.

[link to www.morningstar.co.uk]

The agencies 'ratings' are suspected of being involved in abnormal movements in stock prices in Italy.

Italy launched an investigation into Moody's and Standard & Poor's, a process in which agencies 'ratings' are suspected of being involved in abnormal movements in stock prices in Italy, according to Reuters.

According to a member of the Public Ministry, quoted by Reuters, the measure is justified to "verify that these agencies comply with the regulations as they develop their work." Italian prosecutors have requested information to the country's financial regulator on the activities of the agencies 'rating'.

In response, Moody's said it will cooperate with the authorities and the S & P said it will defend its integrity and its analysts. The investigation comes after the public prosecutor has received complaints in 2010 about the impact of the reports of the two agencies in the Italian stock quotes.

In Portugal, the Attorney General's Office also opened an investigation into the agencies 'rating', after a complaint from a group of economists on the responsibility of these entities in the national financial crisis. [link to economico.sapo.pt]

Panicked Savers Now Paying for Bank Deposits

Mutual funds and financial institutions may be so concerned about the direction of financial markets that they are willing to pay to stay on the sidelines.

[link to www.cnbc.com]

France, UK and Belgium too ?

In addition to Italy and Spain, some investors are becoming jittery about the finances of France, the euro zone's second biggest economy.

In another pointer to spreading concern, Britain's Financial Services Authority has asked U.K. banks to detail their exposure to Belgian sovereign debt, adding it to a list of countries with debt problems including Portugal, Ireland, Italy, Greece and Spain, the finance director of Lloyds bank said.

[link to www.cnbc.com]

ECB and BOJ pumping liquidity....

Dollar goes up, market goes down.

All this will go down now, and tomorrow will be a "bloody" day for stocks !!

Watch it live here :
[link to finance.yahoo.com]

MARKETS OBLITERATED, DOW DOWN 512, EVERYONE FREAKING OUT: Here's What You Need To Know

[link to www.businessinsider.com]

Italy faces either bailout or default – economist

“I think bailout or default for Italy is almost inevitable, because the government has to borrow something like 500 billion euros by the end of 2013,” he said. “Now this is a particular problem at the moment because all the other major economies are trying to borrow huge amounts of funds from the markets at the same time. So I really can’t see any way out.”

[link to rt.com]

ITALY already said they cannot bailout Greece anymore caus they have themselves problems !!

We can understand ..

This means the recent bailout plan for Greece will not work...