Monday, September 12, 2011

Europe: "...Things Fall Apart; The Centre Cannot Hold"

 Yeats' little gem continues:

Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.

The FTSE is down 2.55%, German DAX index is down 3.84%,  the French CAC is down 4.80%.
The European banks are again getting the worst of it.
From FT Alphaville:

La démolition

The Austrians, the Belgians, the Germans — and the French.

Chart of Europe’s biggest fallers early on Monday, via Reuters. It’s getting worse at pixel time.