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Tag Archives: Spain
Is Spain’s Check in the Mail?
It’s a big mystery where Spain will get the money for its so-called bailout, given how urgently its banks need a life supporting transfusion. The European Financial Stability Facility or the European Stability Mechanism are mooted, but no-one yet knows which Spain will have to rely on. My suspicion is that the check is “in the mail.”
Posted in Economy, Politics, Uncategorized Also tagged EFSF, ESM, Germany, Greece, Italy Leave a comment
Germany’s Best Option is to Leave the Euro, Says JPMorgan
As the cost of a euro-zone break-up continues to rise exponentially, JPMorgan has concluded that Germany’s best option is to leave the euro. With German taxpayers outraged by the dangerous rise in credit risk resulting from a plethora of backdoor bail-out schemes, carrying on regardless now looks politically suicidal for Chancellor Merkel in the wake her party’s worst state election result in Nordrhein Westfallen since the second world war.
Posted in Bond markets, Economy, Politics, Uncategorized Also tagged banking crisis, Bundesbank, Germany, Greece, Italy, JPMorgan, Target2 Leave a comment
Eyes Wide Shut as Spain’s Banking System Collapses
As Spain collapses into depression, its banks are holed below the waterline and sinking rapidly, because they are the only remaining buyers of Spain’s sovereign debt. The government, unable to provide state aid to its banks, is desperately bending over backwards to hide the true state of its financial sector.
Posted in Bond markets, Economy, Politics, Uncategorized Also tagged banks, bond market, Euro, LTRO, sovereign debt crisis Leave a comment
Eurozone Governments May Need To Bail Out Municipalities
A lot has already been written about the risk to municipal bond holders in the U.S., as a growing number of states face severe fiscal problems. But local government debt is an even bigger threat in Europe - where it could force governments to assume the debt, putting further pressure on sovereign bond spreads.
Posted in Bond markets, Currency Markets, Economy, Uncategorized Also tagged bonds, EU, Euro, Germany, Greece, Italy, municipal debt, US Leave a comment
When Green Doesn’t Mean Green: Obama is Backtracking on Clean Energy
Environmentalists seized upon President Obama’s stimulus plan as a means to turn America into a low-carbon economy by pouring massive amounts of money into clean energy and green transportation. But in these tough economic times, taxpayers are not prepared to keep footing the subsidy bill. Belatedly, there is now recognition at the highest levels of government that a green industrial revolution is no longer realistic, economically or politically.
Posted in Companies, Economy, Global Warming Scare Also tagged American Electric Power, clean energy, CO2, Denmark, electric cars, EPA, EU, Germany, global warming, Italy, Obama, Solyndra, Supreme Court, US, Wall St Leave a comment
Unduly Rosy Indicators Disguise Real Slowdown Headed Germany’s way
Investors, and Germany’s central bank, need to be wary about jumping to the conclusion that the strong growth in the second quarter will continue. The fiscal austerity being implemented in Greece and the other Club Med countries is not yet reflected in the expectations that leading indicators measure, and contrary to media reports, exports to [...]
Posted in Economy Also tagged China, Euro, Germany, Greece, Italy, manufacturing, Portugal Leave a comment
Spaniards and Italians Will Never Accept Greece’s Fate