A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ Portugal ’
Hey, Germany: You Got a Bailout, Too – Bloomberg
Prudent Germany, the narrative goes, is loath to bail out freeloading Greece, which borrowed more than it could afford and now must suffer the consequences. Would it surprise you to know that Europe’s taxpayers have provided as much financial support to Germany as they have to Greece? An examination of European money flows and...
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Pressure on EU leaders to solve Greek crisis – BusinessWeek
BBC NewsPressure on EU leaders to solve Greek crisisBusinessWeekHigh borrowing rates are at the heart of Europe's crisis and are what caused Greece, Ireland and Portugal to seek bailouts. "Europe has to come up with an answer," Rajoy said...
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Pressure on EU leaders to solve Greek crisis – The Associated Press
The Associated PressPressure on EU leaders to solve Greek crisisThe Associated PressHigh borrowing rates are at the heart of Europe's crisis and are what caused Greece, Ireland and Portugal to seek bailouts. "Europe has to come up with an answ...
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Pressure on EU leaders to solve Greek crisis – Atlanta Journal Constitution
Atlanta Journal ConstitutionPressure on EU leaders to solve Greek crisisAtlanta Journal ConstitutionHigh borrowing rates are at the heart of Europe's crisis and are what caused Greece, Ireland and Portugal to seek bailouts. "Europe has to come...
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True Debt Levels of European Insolvents
Here are the true debt exposures of Spain, when all the regional, bank, and “other” guaranteed debts are included. In a report issued on 2/29/12 and apparently ignored by everyone including the ratings agencies, Eurostat reports that Spain...
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Three Doomsday Scenarios: What Happens If the Eurozone Breaks Up?
The time has come to confront an ugly truth: The possibility that the Eurozone will break up, or rather fall apart, is growing increasingly likely.
In fact, I'd say given recent developments in Italy the probability of a breakup is as high as 40%.
Indeed, if...
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EU Collapse Coming
European politics has become a giant Jenga game. Since June 2010 governments have fallen in the Netherlands, Slovakia, Belgium, Ireland, Finland, Portugal, Slovenia, Greece and Italy.
Why E.U. collapse is more likely than the fall of the euro
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Reality Bites in Europe
Southern Europe has a very long tradition of folks simply not paying their taxes. Evading taxes is a national sport in Italy in particular. Pretty much the same for Greece, Spain, and Portugal. So, it does not matter much what plan is agreed to....it d...
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Roche Keeps Drugs From State-funded Greek Hospitals .
Swiss drug giant Roche Holding AG has stopped delivering its drugs for cancer and other diseases to some state-funded hospitals in Greece that haven't paid their bills, and may take similar steps elsewhere, a stark example of how the European debt cris...
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Greece, then Portugal, ….next up Italy
http://www.marketwatch.com/story/political-turmoil-puts-italy-in-spotlight-
2011-07-08?link=MW_latest_news
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If Greece defaults, what happens to Ireland and Portugal…
So like I said, Greece is about to go down the toilet.
So now that we can, we have to step back, look up, and figure out what’s coming up next on the horizon, once Greece defaults.
The answer is obvious: Portugal, Ireland and Spain are coming up...
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Why you shouldn’t fear the market’s next "Lehman Moment"
Avoiding disasters hasn’t worked. At least, not avoiding debt disasters. No matter what tricks the authorities do – monetary, fiscal, or unconventional – the debt is still there. And since all those tricks cost money…it gets bigger and bigge...
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Greeks may restructure debt
From the "duh" files.
http://www.nytimes.com/2011/04/19/business/global/19euro.html?ref=global-home
The Greeks reject a debt restructuring out of hand. The European Central Bank fears that such a move will spread financial panic. And, meanwhile, the...
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3 down, 1 to go – Et tu, Espana?
Portugal caves. Spain next. And whatever happened to all that eastern European Euro-denominated debt?
http://www.nytimes.com/2011/04/07/business/global/07euro.html?_r=1&hp
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Portugal’s PM just resigned, over budget negotiations
Bloomberg link
Excerpts:
Portuguese Prime Minister Jose Socrates said he presented his resignation to President Anibal Cavaco Silva after parliament rejected the government’s deficit- cutting plan, raising the chance of an international bailout.
...
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Irish Times – European Crisis Not Exactly Contained
Just in case anyone was worred that the debt drama was over in Europe:
" Events of the last week have twisted economic and political feelings towards bond markets, writes DAN O'BRIEN, Economics Editor
THE BAILING out of Ireland was, among other thing...
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Putin: "Quite possible" Russia will join the Euro
http://www.telegraph.co.uk/finance/currency/8163347/Putin-Russia-will-join-
the-euro-one-day.html
Most credible statement about a Russian leader, since we were told Andropov 'had a cold'. I have a tough time taking this seriously, at least as anythin...
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Russ Winter’s Actionable- The Not Right Market
“I’m beginning to think there are not perfect storms. I’m beginning to think these are regular storms and we have a shitty boat. ” -Jon Stewart
Spain and Portugal are on tap for some major austerity steps in the wake of the proposed intervention. It could be that at least some of the PIIGS are...
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Keeping an Eye on the Real Ball
In keeping with my primary theme of following developments on the sovereign credit risk and endless backstop front, we go straight to the PIIGS (Portugal, Ireland, Italy, Greece, and Spain) front. The EU sent out another disclaimer to PIGGS member Greece, warning that no fiscal bailout will be forthcoming. Elsewhere the Dubai bagunca (mess)...
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