Italy's credit score has taken a knock.
Financial ratings firm Standard & Poor's
has downgraded the country one notch,
deepening the eurozone's economic woes.
The agency also gave a gloomy forecast...
Two countries' combined exposure
to other European...
Ireland, Portugal, Spain and Greece
is 801 billion euros.
Italy is simply too big to bail.
None of us are forced.
No hidden hand pulls our strings.
It's the devil who tempts us with choices.
We can love or hate...
be kind or cruel.
Every day...
we decide which path we'll take.
A path...
bound for heaven...
or hell.
Hey.
How's your father?
He's still in hospital.
I thought you wanted to stay there.
You could have.
Have you seen the news?
Dominic's winning.
Can you stop him?
Not by trading against him.
It's too late for that.
There must be some way.
I think there is,
if I end my career and Dominic Morgan's too.
Are you willing to go that far?
I am.
I need you to contact Duval.
Tell him I'm in.
Okay.
It's being called the Battle of London,
an orgy of looting, vandalism and burning,
and it has spread for three days running,
while police and everyone else
try to figure out how to stop it.
-Mr. Morgan. -Thank you very much.
What have you got?
Massimo returned last night.
One of my men followed him from the airport.
Mm-hm.
He looks banged up.
Apparently he had a fight with some of the locals back home.
I don't recognizethe girl.
She's called Sofia Flores. She works for Subterranea.
-For Daniel Duval? -Directly.
Where's Massimo now?
I was gonna congratulate you
on finally joining the fight,
but it looks like you've already been in one.
No police this time.
Hm.
So, to what do we owe this... dramatic turnabout?
I guess I'm not okay
with millions of people's livesgetting ruined.
Well, I appreciate your good intentions,
but I already have a way of saving the PIIGS.
I simply release the document, proving NYL is guilty of--
That's one thing you mustn't do.
And why mustn't I do that?
If the market knew NYL underwrote losses
for one of the biggest banks in Germany,
both banks will fail.
As they should.
There would be an economic meltdown,
a second Lehman Brothers.
The entire continent will suffer.
People would suffer.
He's right.
Or is he just trying to save his own ass?
-His digital signature's on it.-That signature's a forgery.
I wouldn't be here if I wasn't ready to put myself at risk.
I'll go public.
Not about the document, but about Ed's murder.
If it were made public,
that might just be enough to stop it.
Right.
Peddle your story.
If you lose your nerve,
I'll release the document.
You won't have to do that.
He's in love with you, isn't he?
Set a meeting with Hilary Mason.
My credibility with her is shot, thanks to you, by the way.
-What are you going to do? -Try to hold on to my job.
At least until we get this story printed.
Sorry, I overslept.
Late night last night?
They are...
working me to death.
Keep working hard, boy.
It's not only the images,
it's not only the unrest,
it's not only the politics
and it's not only whether the EU will survive
in its current form that played into the contagious scenario...
Yeah, so...
that was fun the other night.
Want to grab a drink later?
What about your girlfriend?
-What happened to your face? -Nothing, I'm fine.
Mr. Morgan's asking for you.
Okay.
Ah, Massimo. -Hey.
What happened to your face?
It's nothing.
How's your father?
The same.
Nina and I were concerned.
I'm fine.
Tell me.
Well, before you left we had a discussion
about whether you thought there was a future here for you.
Being home gave me the time to think.
And the answer is, uh, I do, very much.
Very much.
But I have a confession to make.
I've been seeing a woman...
who works for Daniel Duval.
That's one hell of a confession.
Yes, but I didn't know.
And I can't break it off right now.
How come?
Because Daniel Duval has the CDO document.
How?
-How does he have it? -I don't know.
But I can't get it back
unless they think I'm on their side.
But you can get it back.
It'll take some time,
but yes, I think so.
And you expect me to trust you?
Okay.
But your future depends on getting that document back.
Thank you.
Find out what he's really up to.
I think they left out one of the stages of grief.
After denial and anger comes fucking exhaustion.
I wish there was something more I could do to help.
You did more than you know.
Ed's stock options came through yesterday.
If you and Dominic hadn't told me what to say,
I'd be flat out on my bum right now.
You and the kids deserve to be taken care of, Claire.
I suppose that's it then.
My husband officially killed himself.
I still can't believe it.
Ed was loved, and he knew it.
As far as I'm concerned,it was that bloody bank that killed him.
I don't suppose I'll ever get over this, will I?
No, I don't suppose you will.
You just learn to, well, manage the pain, I guess.
My God, Nina.
You're so bloody strong, I forget.
Here I am jabbering on, and you lost a son.
Hey.
We are survivors.
And we're stronger than we think.
Where's Mr. Ruggero?
He went out. I don't know.
May I have a word?
You haven't reported in recently.
Not much to report.
Massimo's shorting the PIIGS, like he's been told.
We all are.
But he's working on another angle.
We want to know what it is.
In that case, I need more.
I want a contract.
Well, you've got some bottle.
I want a prop trader contract
with my name on it.
No junior, no assistant.
We'll see what we can do...
after you tell me what Ruggero's up to.
Alarms over the euro's future
are sounding in the heart of Europe.
When you have a patient that's already suffering
from a terrible illness over 75% of their body...
What are you doing here?
You wouldn't have come if I'd used my name.
You're right about that.
You must be Hilary.
Massimo Ruggero.
So, what happens to Italy, Ireland and the others
if Dominic Morgan goes through with his plan?
No food in the shops or money in the banks.
Civil unrest.
Then in snap elections,
people vote to return to their native currency.
And once two or three countries have dropped the currency,
that's it, no more euro.
You're telling me this is why Edward Stuart died?
And my wife.
When do I get the proof?
You've got it. This is all on record.
Dominic Morgan's bound to deny everything you've just said.
So, what do you want me to do, take a lie-detector test?
I need documentary evidence.
Internal memos, reports, financial records.
What if I can't get it?
Then you don't have a story.
Call me when you do.
I can't possibly get those files right now.
-Why not? -Dominic's all over me.
I told him about us.
Why did you do that?
-That's fucking stupid, Massimo. -He already knew.
He knew?
We have to get this story out.
-Quickly. -Yeah, but I told you.
There is no way to get those files right now.
-I can't get it. -Okay.
Maybe we can.
-Massimo, welcome back. Hi.
So, what are you running today, then?
Why would I tell you?
Hey, come on, we're all part of the same team.
Sell 100 BTP, 120 BONOS.
Spanish bonds?
-Yes. -Like Flynn.
I want a 300 long spread
by the end of the day.
Great, exactly what I was thinking, in fact.
Thanks anyway, keep up the good work.
Can I have a word?
Not you.
Are you okay? -Fine.
We've continued trading like you asked.
Italy's on the brink.
So is Greece and Spain.
-What do you want us to do? -Keep on trading.
But Massimo-- -I can't stop Dominic.
-Not that way. -What are you thinking?
There's a laptop in there.
Take it downstairs, hook it up to the Freezer.
A list of files will be downloaded.
-What files? -It's better you don't know.
-You sure about this? -I'm sure.
And I need you to do one more thing.
What's that?
Decide you've had enough of me.
Have an argument with me. Now.
What do you mean, Massimo? Are you out of your mind?
Keep your voice down.Do you know how hard Kalim and I have worked?
-Now you want us to walk off? -I know. Calm down!
-You can't just expect us to-- -Calm down.
No! No!
Okay... Eleanor, come back.
A laptop is gonna be connected to the NYL servers.
-When? -As we speak.
This is the IP address.
-He wants our help? -Yeah.
I said we could do it, right?
Sure.
I'll have to know what we're looking for, though.
Here you have the names of the files
we need to give to Hilary Mason.
-On this? Yeah.
-Cheers.
He might be in love with you,
but, you know, a man like Massimo
will never really change his stripes.
-He's on our side. He's a banker.
The difference between right and wrong
is simply not in his DNA.
He told you. He's on our side, Daniel.
You're going away with him after this, aren't you?
I don't know what you're talking about.
I knew that someday I'd have to go on without you,
but I just didn't think
you'd choose a fucking banker, that's all.
Look...
I'm nobody to give you advice on your personal life.
Look at mine.
It's virtually nonexistent.
Do you think he realizes what it means to disappear?
Leave everything behind?
A life constantly looking over your shoulder?
I'm sure you know what you're doing.
-Right.
Let's get to work.
So Europe is now the sick patient of the world.
Nobody really gives a damn
about something as trivial as a little downgrade or two.
Washington should thank us.
Washington is still very worried.
They're only focusing on saving the euro.
Washington should mind its own damn business
and take care of its own problems.
The riots in London. How's everyone fairing?
I think for most people they're just images on TV.
There's going to be a lot more of them
from all across the continent once the euro drops.
Well, it's the consequence of failed government policies.
It's a big victory nonetheless, Dominic. Congratulations.
Don't congratulate me yet.
We have another problem.
Daniel Duval is sniffing around the bank.
That is a problem.
How much does he know?
Quite a lot, from the sound of it.
What are you gonna do about it?
-I'll take care of him. Good luck with that.
People have been saying they're going to take care of Duval
for almost a decade.
I'm not gonna try, I'm gonna succeed.
Tomorrow.
You have a way?
I think Massimo has provided me with one, yes.
You do that and we'll really have something to celebrate.
What would it take for me to disappear?
Forever?
Where?
Look, Massimo,
I wouldn't be doing my job, if I didn't ask you
what kind of trouble you're in.
By tomorrow,
I expect my professional life will be over.
-Criminal charges? -Possibly.
Well, preparation's the key.
Disappearing on the fly makes things difficult,
but not impossible.
Your first issue is money.
Any in your name becomes a problem.
I'll handle it.
There won't be time to distance yourself from family.
-Not an issue. -Or friends.
Already underway.
Hey.
What happened with Massimo?
Wouldn't you like to know.
Are we gonna go for a drink, and we can talk about it.
Not tonight.
Hey.
Special K. What's up, bro?
The world is still spinning on its axis.
Look, come on, bro.
Look, I saw the row with Eleanor and Massimo.
-I mean, what's the secret? -None of your business.
-So there is a secret?-Why don't you ask one of your friends over there.
Yeah, all right.
I'll do that.
Shit... Oh!
You didn't...
Hack into my account again, yeah, I'll have you sacked.
He's joking around, man.
Who do you think you're dealing with?
Fucking wanker.
Another fine day in Canary Wharf, I see.
Some unreal shit I'm dealing with.
I'm telling you, it's un-fucking-real.
Okay, well, you're home now, so just chill.
Yeah, chill, right.
Okay, whatever that is,
it can't be more important than your brother.
What?
He got a B-plus in Maths.
Am I seeing things?
Maths, yeah?
Come on.
What'd I tell you, bro? What'd I tell you?
Family brains, man. Come on.
-Means I can play Xbox, yeah? -Yeah, yeah, yeah.
Oh, go on, a deal's a deal.
Well done, man.
He's doing really well at school, Oli.
I saw his teacher this afternoon.
You should be so proud.
Yeah. Let's just hope...
I don't get fired.
Someone got to pay these tuition fees.
What are you talking about?
You don't tell me anything.
Because I don't know!
What am I supposed to say?
I'm getting in the shower.
-Hey. Hey.
Sofia Flores, Terence Rigby.
-Miss Flores. -See you tomorrow.
Yes, you will.
-Who was that? -A friend.
What do you mean, a friend?
He's helping us.
All right.
How's Duval getting along?
He should have the files by tomorrow afternoon, at the latest.
Let's hope it's not too late.
Do you think he made a copy?
Of the CDO? Duval?
No. He never digitalized it.
Too dangerous. It could be hacked.
We need to find a way to get it.
He's got only a hard copy. He would notice if I took it.
But you have to find a way.
You have to.
I don't want to be this woman, Oliver.
What woman is that?
The kind that has to accuse her partner of cheating.
What?
I can smell her perfume, Oliver.
Denials only make it worse.
Um...
I never asked for a nicer flat, Oliver,
or for the clothes you bought me since you got this job.
All I ever needed to know
was that you loved me.
And now you've taken that away. What's left?
Hey.
It was a mistake.
Hey, hey. Listen to me, hm?
-Hey. Hey.
It won't happen again.
No, Oliver, it won't happen again.
Toya? Toya? Toya, come on...
Shit.
Oh, shit.
I saw Claire Stuart this morning.
She still can't believe Ed killed himself.
The case is closed.
Cases can be reopened.
I've had Alex take precautions.
Well?
Sofia Flores. She's in Massimo's flat.
Keep me posted.
Okay, thanks.
-Massimo? -He's still trying to stop me.
After all the two of you have been through. It's sad.
I hoped it wouldn't have come to this.
He's so much like you.
Maybe it was inevitable.
Maybe.
You fought so hard for so long...
and now you have to fight him.
It's almost over.
We just have to fight a little bit longer.
Who was it?
The hospital.
How is he doing?
Everything is fine. He's stable.
That's good.
Yes.
You should check with Duval about the files.
Yeah, sure, no worries. I'll call him.
These austerity measures are doing the opposite
of what should be happening from the euro,
and is compounding the problems.
Signor Ruggero. Buongiorno, come stai?
Fine.
So how about some dinner, man?
It's been so long since we hung out.
Not tonight.
Right.
You don't look well.
Look, I need a tip.
Paul's given me three clients to look after,
and if I don't impress one of them by the end of the month...
I'm done.
All right, all right, look...
I see your shorts are still booked on those PIIGS,
but you've slashed your exposure.
There is clearly some Ruggero magic brewing.
Do your Italian accent for them. Guaranteed win.
I told you two weeks ago I wanted those SEGs on my desk.
And I told you before, it's just not possible right now.
I'm not asking you, Eleanor, I am telling you.
-Do you understand that? -Get off my ass, Paul.
Is there a problem?
Yes, yes, there is a problem.
Miss Bourg here thinks the rules don't apply to her.
-That's a lie and you know it. -I've been asking her to keep me updated--
My fault, okay? It's my fault.
I asked Eleanor to hold off.
-You did, did you? -Yes.
Give me a few hours and I'll send you a full report.
You make it look so easy.
What?
Lying to everyone, including us.
Massimo, we need to talk about--
I'll be back in a minute. Wait for me.
Hey, El.
El, stop. Stop, please.
Do we have a problem?
Are you going to the press?
What makes you think that?
Those files you want downloaded from the server.
Tell me what's going on, Massimo.
It's not about the bank this time.
This will affect millions of people.
Because their governments are weak.
Since when don't go to the press with our dirty laundry?
Like I said, it's better you know as little as possible.
All this time, we've stuck with you out of loyalty, Massimo.
Don't tell me you're doing this for some woman.
Dominic's got blood on his hands.
Ed's and Carrie's.
Then at least call it revenge.
The losses in European markets
were far greater, or greater in many cases, than our own.
Certainly Spain was down by over 5.5% today--
What's the lesson here
about spending beyond your means, going forward?
Are countries too big to fail?
This is a global problem and, in fact...
The debt concerns in Europe...
Countries are too big to fail.
-The euro is weakening.
What's going on?
-Those files... -What about them?
They're being downloaded, but not the ones you asked for.
What is this? Proprietary algorithms
for high-frequency trading.
I don't even know how to read this.
Whoever's hacking into our servers does,
and he's hiding behind malware
to download more of them as we speak.
I need a name, Massimo.
-Daniel Duval. -From Subterranea?
-Yes. -Are you out of your fucking mind?
Hey, listen to me.
He was only supposed to download
-the files I listed. -Come on--
I don't know what the fuck is going on right now.
He's playing you.
I'd better disconnect that laptop.
No, wait, wait, wait.
The moment you disconnect it, he knows we know.
Leave it. Now go.
-Go. -Fuck...
Have you been playing me?
What are you talking about?
High-frequency trading algorithms.
Duval has been hacking them from NYL servers with my help.
-Duval has been hacking? -Yes.
It was your idea to hack into NYL.
Are you serious? This is me.
This is me you're talking to, Massimo.
Yes, I know it.
You told me how far you'd go
to get what you want, remember?
I should walk out of here and never see you again.
So why don't you?
Because maybe you're not acting like yourself.
Because your father has died, right?
And you have said nothing to me.
I didn't want you grieving for me
while all this was going on.
That's bullshit.
I'm trusting you.
But I need you to start trusting me.
Lock it.
You've been snooping around for dirt on Massimo.
-Not dirt. -Look,
you want me to tell you or not?
I'll take that as a yes.
But you have no proof I told you this,
and if you say I did, I'll deny it.
Okay.
Massimo's stealing proprietary information
from the bank.
He has someone hacking into the NYL servers
from the outside.
Who?
You've heard of Daniel Duval?
What the fuck's going on?
Seems our shark has grown a bloody conscience.
Why are you telling me this?
I haven't.
I've got what you need.
Our servers have been compromised.
An IP address linked to a VPN used by Subterranea.
And this comes from Massimo?
I have no proof, but... yeah.
Can I have my contract now?
Hope I'm not interrupting.
You are interrupting, actually.
Looking for me?
Oliver, would you excuse us?
-I've dealt with Sofia Flores. -Dealt with her? How?
She told me Daniel Duval has been hacking into our servers.
You stole the algorithms
to establish your crypto-fucking-currency?
And maybe make you a very rich man in the process?
Well, if most of that was true, you should be happy.
Really?
Power will finally be in the hands of the people again.
Pure democracy.
That's not democracy. That's anarchy...
and a massive economic depression.
Rioting, looting, violence in the streets--
I'm afraid at the moment...
violence is inevitable.
It's-it's part of the process.
You're worse than Dominic.
Why didn't you come to me?
I come to you now.
I have to stop you.
Yes, well...
You're too late, as of...
ten minutes ago.
I have all the data points and algorithms I need,
thanks to you...
and Massimo.
You're very welcome.
Detective Sergeant Henry Winks!
Nobody touch a fucking thing!
Stand down. I said step away from the computers!
Take everything!
Freeze! Daniel Duval,
I'm arresting you for insider trading
and violation of the Official Secrets Acts.
You don't need to say anything,
but you may harm your defense...
How do we know you didn't give Duval access to our servers?
So I could report it to you and get Duval arrested?
That wouldn't make much sense, would it?
Someone else helped Duval.
The same person helped him to get the CDO.
Who?
My laptop was stolen.
It's a fucking fit-up, all right? Mr. Morgan!
Alex, come on, man. This is ridiculous, come on.
Please. Ow.
Mr. Morgan!
Hm.
I thought it was Massimo, when all along it was Paul.
Should have known better.
Do you know what trust means?
Hm?
Yesterday, you came into my office...
and you asked me to trust you... again.
Yes.
You had Kalim take Paul's laptop and put it in the Freezer,
so you could steal those files for Hilary Mason.
We have people in the Guardian.
See, this is what happens
when you play both sides and you lose.
You have nowhere to turn.
We'll see.
You have no idea what you're doing.
You have lied to me for the last time, Massimo.
You're fired.
Alex.
Don't touch me.
You have to understand this is a systemic problem
that requires the total execution,
in one way or another, of these banksters.
They add no value.
They simply make things worse,
so they can profit from the chaos.
Sometime by September,
October or maybe November,
we are in severe danger
that the eurozone is going to collapse.