Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
This morning's Canard Enchaîné reports that France's largest savings bank, the Caisse d'Epargne, is in need of cash.

Caisse d'Epargne has issued a denial.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Oct 1st, 2008 at 02:17:02 AM EST
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[Drew's WHEEEEE™ Technology]

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Carrie (migeru at eurotrib dot com) on Wed Oct 1st, 2008 at 02:28:27 AM EST
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Any banks which is suspected is dead in the water. Expect a bailout plan for Caisses d'Epargne in the next 24 hours...

(This one will be fun to negotiate: the Caisse des Dépôts, the usual suspect for a capital injection, is pissed off at Caisses d'Epargne for their take-over of Natexis - it was done in a hurried way while the previous boss of CDC was in the hospital, against his specific instructions, robbing CDC of its influence in the company)

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Wed Oct 1st, 2008 at 04:47:18 AM EST
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I've been waiting for this bit of fun for over a year now, counting the nuts moving in and out of "the squirrel's" coffers.

Expect fucktard Millaud to pull a last-minute stunt like taking over the floated remains of Natixis, that would give him a few billions in relapse (he doesn't like the market value of natixis, which is just a fraction of its net asset value, because assets are overvalued of course, so he could eliminate the "market" in the "value").


by Pierre on Wed Oct 1st, 2008 at 05:41:36 AM EST
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