MARKETS AGREE WITH TAB: THE INTERGOVERNMENTAL DEAL SUCKS AND IT WON'T SAVE THE EU OR THE EURO!

ITEM #1:

Australian shares are set to open sharply lower, giving up Monday's gains, after markets offshore slid on doubts European leaders had done enough to end the region's debt crisis and stave off a recession.

ITEM #2:

The euro tumbled to a nine-month low against the pound yesterday as the latest attempt to solve the debt crisis tearing through the single currency bloc fell flat.

Borrowing costs in Italy and Spain surged to dangerous levels, and shares around the world sank on another day of panic on the financial markets.

I SAID THIS ALL WEEKEND AND YESTERDAY - WHILE FEW OTHERS DID.

THINGS MAY GET EXTREMELY BAD BY THE END OF THE WEEK.

LIKE CRASH BAD. STAY TUNED...