(Love ending sentences with prepositions - no slave to Latin construction here.)
John Kay in the Wednesday, October 29 Financial Times notes:
If opinions are not based on facts, changing facts will not necessarily change opinions.
Ed. note: I am totally guilty of this.
Earlier in the week, on Sunday October 26, Jeroen Dijsselbloem confidently asserted “I definitely think the banking crisis is behind us[.]”
Also known as Dieselbomb to Zero Hedge readers, Jeroen's statement is funny on many levels, not least because he is currently the Eurogroup President AND Dutch finance minister. The last time I paid serious attention to Diesel-Bomb was during the Cyprus implosion in March 2013 when he accidentally let it slip the Cyprus bail-in would serve as a template for future EU rescues.
After seeing the damage he did to the markets, Diesel-Bomb retracted his comments, denying he ever made them, which compounded the comedy because he had made those comments to Reuters and Financial Times. His new version went something like this:
"Cyprus is a specific case with exceptional challenges which required the bail-in measures we have agreed upon yesterday. Macro-economic adjustment programmes are tailor-made to the situation of the country concerned and no models or templates are used."Thanks for the clarification, Diesel-Bomb.