Belgium's Dexia Bank To Expire This Weekend? Then Greece Blows UP!?!? OMFG!

Getting three people to agree on any particular matter is a difficult endeavor and asking 17 different sovereign nations with competing interest to all agree on a plan to bail Greece out a 2nd time is really expecting too much. The odds are against it. And so this statement seems true, according to Bloomberg News, tiny Solvakia is throwing in the towel and won't back the Euroland bailout plan.

Slovakia and Malta are the only two Euroland players that haven't yet ratified the key elements of the European Union's plan to stop the debt crisis.

So if all 17 Euroland players don't agree, Greece blows up and Euroland with it.  The first bank to implode will be the Belgian bank Dexia which has  huge derivative exposure to Greek debt and was one of the most active borrowers at the Fed's discount window during the Lehman crisis. Bond holders will be freaking out in Europe today awaiting Market open on Monday. And what will happen monday?

Will we see triple digit drops in the FTSE, CaC and DAX? Which Greek bank will be the first to be nationalized? Pulling down associated banks in Euroland who are heavily exposed to Greek debt? Will the ECB come to the rescue? Will the Fed? What will TimmyG do?

This won't be a rumor, it will be reality, it will be the financial news.
It will pull down banks in Europe and will cause crisis in America and Asia.

 Who will be the first banker, IMF member or Euro politician who will claim "no one saw it coming?" Politicians everywhere will wring their hands and proclaim...we need more of your euros and dollars to bail out this mess...
Time to "eat your peas!"

So all of the lies from the Euroland politicians about Euro stability and from the Americans pompously lecturing about their saving the markets here, more lies, propelled the stock markets to triple digit advances will crumble back this week, when the curtain is pulled back and the emperor is seen for what he is....naked and insolvent.

Pull out the popcorn and sit back because it will be interesting!

Move along folks......Nothing to see here!