Britannia Radio

$1 Trillion Was Not Enough

Wednesday, 12 May 2010 06:42

'Zero Hedge notes that European banks are betting against the beleaguered euro. “Zero Hedge has received confirmation that several of the largest French banks are now actively shorting the euro to take advantage of globalized moral hazard, which with every ensuing bailout does nothing but make the bonuses of French FX traders surge.”

In other words, the very banks the EU plans to bailout in part with U.S. taxpayer money (or tax payer long term debt) via the IMF are placing bets against the survival of Europe.'

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