Italian Finance Minister attempts to explain why the third dose of aid for Monte Paschi Bank is NOT a Bailout...... and water is NOT wet by the way.....

http://www.zerohedge.com/news/2013-01-29/italian-finmin-grilli-monte-paschi-bank-solid-aid-not-bailout

Just look at the spin here ... aid is not a bailout ! After these doses of aid , why isn't the patient better Doctor ?

Italian FinMin Grilli On Monte Paschi: Bank Is Solid; Aid Is Not Bailout

Submitted by Tyler Durden on 01/29/2013 09:17 -0500

• Bond
 
• Italy
 
• Reality

Following his impromptu discussion early this morning with Mario Draghi, Italy's finance minister has proudly stepped before the cameras to discuss the farce that has become Monte Paschi. In a stream of seemingly incredulous hypocrisy, the minister explains that:

• *GRILLI SAYS MONTE PASCHI IS SOLID
• *MONTI BOND HELPED MONTE PASCHI MEET EBA RULES: GRILLI
• *GRILLI SAYS OVERSIGHT OF MONTE PASCHI WAS CONTINUOUS, THOROUGH
• *GRILLI SAYS GOVT AID TO PASCHI NOT TO HELP AN INSOLVENT BANK
• • *GRILLI SAYS ITALY BANKING SYSTEM UNIQUE FOR NO BAILOUTS
  Indeed, it seems that Juncker-ism has leaked across to all the ministers as a new realm of reality strikes the Italian banking system. So the 'bank is solid', 'aid is not a bailout', and 'water is not wet'.