from Zero Hedge
“You never let a serious crisis go to waste. And what I mean by that it’s an opportunity to do things you think you could not do before.”
Rahm Emanuel prophetic words were quickly put to use by Italy on Monday morning, which barely waited one full day before using Brexit as the scapegoat excuse to warn that a €40 billion bailout of Italian banks is coming.
As a reminder, on Monday morning the local media reported that Renzi’s government was pursuing a six-month waiver of EU state-aid rules, allowing it to shore up banks without forcing investors to share losses.