The discovery was only disclosed in a 173-page document circulated by the inspectors after Fridays Security Council meeting.

CENTERFORSECURITYPOLICY: Blix hid smoking gun

From the second half of 2009 into 2010, the central bank intensified its scrutiny of MPS's liquidity, including by sending inspectors to its headquarters and offices, according to the document.

WSJ: Bank of Italy Says It Tightly Supervised MPS

Assuming that they are not convinced by the Iraqi document (a safe assumption) and assuming the arms inspectors find nothing new, they will have to decide at some point to go back to the Security Council and try to persuade other members to back a war.

BBC: US develops response to Iraq report