What does this mean?
On zerohedge.com the BMPS stories in each case are "headline news". 4 weeks ago Zerohedge is telling a story about a complete failure of Italians Banking system followed by a crisis in the overall European Banking system. Everybody understood that this means nothing else than a crash in stockmarkets.
This crash never occurs. The Banca Monte Paschi will survive. The Italian Government is going to pay 5 B Euro to bail out the BMPS and it looks like this might happen now and on tuesday or the following days or weeks ahead this issue is solved out.
What is now Zero Hedge making all of this?
ZH is saying today: Forget about BMPS (!) a volcano (!) is a much higher (!) thread.
If ever you read someting like this than you feel or see that this is a kind of capitulation. If ever this is the beginning of a capitulation in a few days only one by one investors start to think same again: Forget about Monte Paschi. But keep in mind - we are not talking about "one" bank. What we are talking about is the complete meltdown of the Italian and European Banking Sektor widely announce by "everyone" just 3 weeks (!) ago. And this crash will not occur.
Oops.