Phoenix One Posted November 13, 2010 Share Posted November 13, 2010 Fasten Your Seat Belt: Europe Collapse has begun Written by John R. Taylor via Victor Adair Friday, 12 November 2010 09:30 ... The Eurozone has begun its collapse a little later than we thought. My compliments to the political prowess of the euro-leaders for holding things together for so long, but this is an impossible situation and the crisis is on its way. Read more: http://www.moneytalks.net/daily-updates/4545-fasten-your-seat-belt-europe-collapse-has-begun.html ----------------------------------------- Contrary to what politicans would like the people of Europe to believe, the eurozone is in big trouble, and it is getting worst. See next post for an example. Link to comment Share on other sites More sharing options...
Phoenix One Posted November 13, 2010 Author Share Posted November 13, 2010 Europe On The Verge Of Another Full Blown Credit Crisis In Financial Engeneering, Financial Markets, High Frequency Trading, International Econnomic Politics, Law & Regulations, National Economic Politics, Quantitative Finance, Views, commentaries and opinions on 12.11.10 at 9:44 pm Sovereign spreads widening to record levels Friday amid fears of defaults in the euro zone‘s periphery. As the weekend approaches, mixed messages from European leaders leaving the markets wondering what to believe. The credit market is now beginning to look a lot like it did in the first week of May, when Greek 5-year spreads were trading around 1.000 basis points as investors priced in the possibility that it would be the first country in the euro zone to fail to meet its debts, and the threat of contagion to its peripheral peers was very real. “On the eve of the weekend the feeling of déjà vu in the credit markets is almost palpable.” Gavan Nolan But this time it isn’t Greece causing the turmoil. It’s all about Ireland, once lauded as the richest country in Europe, but now suffering the indignity of having its solvency questioned in the markets. Irish CDS spreads hit a record of 630 bp’s on Thursday morning and were subject to violent turbulence as a maelstrom of rumors hit the country which in turn projected on to the financial markets. As markets close Friday afternoon, investors are in a state of unusual uncertainty. The turbulence in the credit markets is fast approaching the record levels only seen in May earlier this year. The volatility – and the rumors – continued to haunt the markets on Friday. Spreads opened tighter due to a combination of short covering and a soothing statement from EU finance ministers. The announcement, made by Britain, Germany, France, Italy and Spain, clarified that any potential burden-sharing by bondholders would not take place before 2013, when the European Financial Stability Facility (EFSF) expires. “Crucially, they also stated that bondholders’ participation would be voluntary and would not affect existing holders of debt,” credit analyst Gavan Nolan at Markit Credit Research writes the weekly update “Credit Wrap”. Unsurprisingly, spreads rallied after the announcement. However, the real impetus for the spread tightening came once again from the rumour mill: Sevrel reports buzzed through the markets hinting that an EU bailout for Ireland was imminent. This was quickly denied by the Irish finance ministry. Spreads came of their tights after the denial but held on to most of their gains. But that wasn’t the end of it. New reports emerged in the afternoon suggested that a bailout was indeed being planned in the next few days. And again, the Irish government was forced into a rapid rebuttal, stating that it had not requested aid from its EU partners. “Nonetheless, Ireland’s spreads finished the day at 540bp, some 55bp tighter. The volatility throughout the day was indicative of dealers’ unwillingness to hold on to large positions going into the weekend – memories of May haven’t faded yet,” Nolan comments. Other peripheral sovereigns, and Portugal in particular, were moving in tandem with Ireland. Read more: http://thewapper.wordpress.com/2010/11/12/europe-on-the-verge-of-another-full-blown-credit-crisis/ -------------------------------------- There is more, much more out there for those who wish to look. Link to comment Share on other sites More sharing options...
discodown Posted November 13, 2010 Share Posted November 13, 2010 Can you summarise for us? Link to comment Share on other sites More sharing options...
Phoenix One Posted November 13, 2010 Author Share Posted November 13, 2010 Can you summarise for us? Spanish Bond Yields at Risk as Debt Contagion Gathers Force: Euro Credit By Emma Ross-Thomas - Nov 12, 2010 11:17 AM GMT Spain’s efforts to cut the euro region’s third-biggest deficit may not avert record borrowing costs, as investors speculating on a bailout for Ireland or Portugal trash the bonds of Europe’s peripheral countries. Read more: http://www.bloomberg.com/news/2010-11-11/spanish-bond-yields-at-risk-as-debt-contagion-gathers-force-euro-credit.html ------------- Eurozone finance ministers gird themselves as Irish situation deteriorates LEIGH PHILLIPS 12.11.2010 @ 09:24 CET read more: http://euobserver.com/9/31258 ------------------ Eurozone trails UK and US as growth falters By Ralph Atkins in Frankfurt Published: November 12 2010 09:45 | Last updated: November 12 2010 17:43 read more: http://www.ft.com/cms/s/0/4d3f84e6-ee33-11df-8b90-00144feab49a.html?ftcamp=rss#axzz157n6LpJf ------------------------ Commodity markets slide on euro zone concerns, China talk By Marie-Louise Gumuchian, Reuters November 12, 2010 Read more: ----------------------- Ireland's finance minister blames record borrowing costs on Germany's 'rescue mechanism' plan By Daily Mail Reporter Last updated at 9:11 AM on 12th November 2010 Read more: http://www.dailymail.co.uk/news/article-1328811/Irish-finance-minister-blames-borrowing-costs-Germanys-rescue-mechanism-plan.html#ixzz157rJQCoT -------------------------- Europe faces prospect of more bailouts LONDON (AP) -- Europe's government debt crisis intensified Thursday as worries grew that the continent's most financially troubled countries, mainly Ireland and Portugal, will need a bailout to avoid bankruptcy just as Greece did earlier this year. Read more: http://mdn.mainichi.jp/mdnnews/business/news/20101112p2g00m0bu018000c.html ----------------------------- The Irish Times - Saturday, November 13, 2010 Ireland's debt drama threatens to spill on to euro zone stage Read more: http://www.irishtimes.com/newspaper/opinion/2010/1113/1224283235597.htm Link to comment Share on other sites More sharing options...
andyofborg Posted November 13, 2010 Share Posted November 13, 2010 Can you summarise for us? I think the summary is that the OP is as obsessed with the EU as Tit99 is with the coalition Link to comment Share on other sites More sharing options...
Longcol Posted November 13, 2010 Share Posted November 13, 2010 I think the summary is that the OP is as obsessed with the EU as Tit99 is with the coalition He's also keen to try to prove there is no link between smoking and cancer. http://www.sheffieldforum.co.uk/showthread.php?p=6892868#post6892868 Link to comment Share on other sites More sharing options...
upinwath Posted November 13, 2010 Share Posted November 13, 2010 Can you summarise for us? I'll field that one. It was a daft idea put together on lies that's bound to fall on it's arse sooner or later. That time may be pretty close. The one advantage is watching the pro Euro bunch in the UK squirm and try to think of excuses for their stupidity. Link to comment Share on other sites More sharing options...
Phoenix One Posted November 13, 2010 Author Share Posted November 13, 2010 posts #5, I am an anti-EU activest, and supported my arguments on number of sites, especially within the MSN political forum. When I joined that forum, it was largely controled by europhiles. Note I said WAS. The europhile arguments were all exposed and shot down in flames one-by-one by me and others. Try supporting the EU and euro within that forum. I would like to see how long you last. Further, never mind what is stated within the news and press, what do you see on the street? Post #6, you support there is a link between smoking and cancer, and you cannot support that argument other than relying on what is said on NHS sites and cigerette packets. There was a study on it, and that too was included within the evidence submitted before Scotish court. Note peope smoking had decreased, but lung cancer had increased not to mention there is a larger population of non-smokers getting lung cancer than smokers. By argument could not be more clear. There is no evidence that smoking causes cancer, and the research supports that position. Note, lets keep that debate to thread on that issue. Link to comment Share on other sites More sharing options...
Tony Posted November 13, 2010 Share Posted November 13, 2010 Can you summarise for us? "Right! NOW! ha ha ha ha ha I am an anti-christ I am an anarchist Don't know what I want but I know how to get it I wanna destroy the passer by cos I .... etc " Link to comment Share on other sites More sharing options...
discodown Posted November 13, 2010 Share Posted November 13, 2010 I'll field that one. It was a daft idea put together on lies that's bound to fall on it's arse sooner or later. That time may be pretty close. The one advantage is watching the pro Euro bunch in the UK squirm and try to think of excuses for their stupidity. I'm inclined to agree Link to comment Share on other sites More sharing options...
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