"Europe's Critical Weekend"

Everybody is calling this a "critical weekend" for Europe. Regardless of what happens - bailout or not - the frequency of these mad weekend scrambles is more evidence for my bearish view.

If the world financial system was sound and robust, would it be having frequent "critical weekends" where it was on the verge of failure?

The probability of making it through a succession of "critical weekends" without a critical event is low. That's why we need a robust financial system.