Wed Post #1: Print, Print, Print.

Two days ago it was Alessio "BBC Trader" Rastani's gloom and doom musings on Europe that garnered all the attention.

Today it is Attila Szalay-Berzeviczy, head of UniCredit global securities (Italy’s biggest lender) and former Chairman of the Hungarian stock exchange (pictured above).

Bloomberg is reporting that Szalay-Berzeviczy has written an OpEd piece in which he claims that the euro is “practically dead” and Europe faces a financial earthquake from a Greek default.

Sounds familiar, doesn't it?

• “The only remaining question is how many days the hopeless rearguard action of European governments and the European Central Bank can keep up Greece's spirits. A Greek default will trigger an immediate magnitude 10 earthquake across Europe. Holders of Greek government bonds will have to write off their entire investment, the southern European nation will stop paying salaries and pensions and automated teller machines in the country will empty within minutes. The impact of a Greek default will rapidly spread across the continent, possibly prompting a run on the weaker banks of weaker countries. The panic escalating this way may sweep across Europe in a self-fulfilling fashion, leading to the breakup of the euro area.”

Of course this is just "one scenario among many". Szalay-Berzeviczy offers this ray of hope:

• “It’s one scenario among many, one which may lead to the breakup of the euro area via a banking crisis. This can still be averted. It primarily depends on the Germans, and secondly on European citizens, especially on how much the Greek population can tolerate.”

All Europe has to do is print, print, print.

Pity they can't print more Gold and Silver too.

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