All the Euro-crats are treading on thin-ice.
I would be in hiding as well.
Catalan signalled a paradigm shift in Europe. A lot of the discontent is purposely unreported.
The world, we were told, was waiting for the US Elections.
They got BHO as we were told they wanted, and now there is no villain to hide behind. No predecessor to blame.
I expect the Fed to continue to assist the EU Banks with limited sub’d swaps.
I also expect Europe - like Spain and Italy to fall to pieces.
You will see volatility in the “indicators” rather than the indices. Consumer confidence, PMI’s, PPI’s etc...
Ultimately - the data-wall begins to crumble. nothing left to shield the real problems.
Eventually the “mob” - the proles that people like Barroso and Van Rompuy completely loathe, will find them balled up in a dark corner - sheepishly whining that “the americans did this to you!!!!”
That was the message during the first term of BHO. I argued the point with many Europeans that they are in throes of a long overdue political crisis and that the banking and credit crisis’ are merely symptoms of the big problem.
I hate being right when it comes to this, but I get paid to be accurate about the fate of Europe.
I don’t get paid for it but I try to preserve my meager resources for the last two decades by paying attention. Nowadays I am just hoping to save my life.