Bottom line, seconds after someone blinks - defaults on their debt, the debt considered "safe" will be challenged as junk. Debt once considered reserve quality will be marked to market at significantly lower prices. A wave of insolvency will smash through the European banking system within a blink of an eye. This birth of a crisis and reason why laws enforcing the confiscation of deposits are already in place.
Headline: ECB poised to pull QE trigger on deflation
Frankfurt (AFP) - The stage is set this week for the European Central Bank to unleash its biggest weapon yet in the battle against deflation in the eurozone, analysts said.
Financial markets and ECB watchers are betting that central bank chief Mario Draghi will unveil a programme of sovereign bond purchases known as quantitative easing (QE) at the first policy meeting of this year on Thursday.
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