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EURO – Euro Stress is jumping – EU CDS is hitting a new record - Italian Yields are nearing the “Danger Zone” – EUR Swaps are collapsing again, driving the € near YTD lows – Spain’s bank borrowing from ECB registers biggest jump since June 2010 – Funding issues continue, but German headlines give a bid to some EU banks just now




EU CDS is hitting a new record


·         Klaas Knot, a member of the ECB's Governing Council has said the eurozone bail-out fund or contributions to the IMF have to be at least €1 trillion. The crisis will be solved if the rescue funds are increased

·         A new "fiscal compact" designed to mend flaws in the single European currency's framework should be completed in the first six months of next year, European Commission president José Manuel Barroso said Wednesday