Let Me Guess... It’s to be called “Unexpected” News

Ineffectual summiteering no longer looks like a plausible way to calm the markets. As if it ever was.

Top eurozone officials meet amid alarm on Italy

The reality of economic integration without political integration will keep the summiteers on the road forever, or at least as long as old Dead Heads.

US Treasurys Receive Safety Bids As Spain, Italy Yields Soar

I suppose the Ratings Agencies which had nothing to do with the Italians’ or Spaniards’ borrowing habits are behind this somehow!

Heading into a meeting of euro-zone finance ministers to discuss the region's debt crisis, German Finance Minister Wolfgang Schaeuble rejected talk of doubling the size of the European Union's temporary bailout fund. Reports also emerged that the bloc's officials may be warming up to the idea of allowing a partial Greek bailout.

Fresh fears about a credit contagion roiled financial markets in the periphery, sinking stocks and inflating costs to insure those nations against default. Ireland's five-year credit default swap hit an all-time high of 1,020 basis points Monday, according to Markit, while regulators in Italy are attempting to curb short-selling in the nation's stock market.