After berating Ireland for having done the same Germany quietly announced that they would also be insuring all bank deposits. Unlimited bank deposits.

This is amusing, and also a bit frightening. Europe is facing a Lehman sized bankruptcy in Hypo Real, many European institutions are more leveraged than their American counterparts, and, at least to hear German Chancellor Angela Merkel tell it, it's every woman for herself in the European financial crisis. No Europewide bailout fund will be forthcoming.

Tomorrow will be an interesting sort of day.

That Was Quick... [Alea]