Ok, here is the itinerary: The ECB is meeting on November 3rd. The G20 is meeting on November 3-4, The Papandreou is attending on the 2nd day. A Eurogroup meeting will follow on November 7th, followed by an EU Ecofin meeting on November 8. The Troika was meant to disburse the sixth tranche of theContinue reading ““This is a question of whether we remain in the euro zone. This is very clear. It’s clear to everyone” – Papandreou”
Category Archives: spillover effect
Ex-Ikos chair Coward launches illegal hedge fund.
Martin Coward, co-founder of Ikos Financial and estranged husband of Elena Ambrosiadou, is preparing to launch his own hedge fund. The FT reports the fund will be activated next year, using the same state of the art proprietary technology to benefit from high frequency trading that has lead to Ikos’s success. Although Coward is theContinue reading “Ex-Ikos chair Coward launches illegal hedge fund.”
Europe’s Besieged Banks, Relief….MF Global & Greece’s Ejection
EU banks have received a short period of relief from the unpleasant sovereign debt crisis of the GIIPS. As bank shares recovered from political efforts to provide a comprehensive program for resolving the crisis. The recent 29% writedown on Greek debt held by the private sector and a plan to help support bank racapitalisation byContinue reading “Europe’s Besieged Banks, Relief….MF Global & Greece’s Ejection”
Brazil the World’s 6th Largest Economy
Since 1990, the poverty rate in Brazil has halved, declining on average by 1.2% a year. This year Brazil’s economy is forecast to grow by 3.6%. Brazil is on track to overtake Britain to become the sixth largest economy in the world. With a GDP per person, at around $11,000, Brazilhas been growing at anContinue reading “Brazil the World’s 6th Largest Economy”
Japan & unilateral intervention in FX market.
Japan continues intervening in FX market. “intervened to curb speculative moves against Yen strength; acted in line with G20 and did not intend to distort markets.” – Jun Azumi, Japanese Finance Minister.
EFSF: “A deal has been reached.”
It appears the EFSF deal has been reached. As expected, it will be 1.4 trillion, by using 400-500% leverage on cash. Write down on Greek debt will be 50% (really 29%). Italy pledges to cut debt gdp ratio to 113% by 2013. The TARP, Euro banks will be funded with 30 billion for recapitalization. DowContinue reading “EFSF: “A deal has been reached.””
The “Aphrodite” LNG
Debt levels in a number of economies of the European Union (GIIPS) continue to alarm the global markets—requiring European Union intervention to avert default. As concerns about fiscal sustainability and the oncoming financial turbulence approach, the Republic of Cyprus has announced that it has broken ground on its natural gas reserves. Large tracts of liquefiedContinue reading “The “Aphrodite” LNG”
EU Negotiations On Proposed Caspian Pipeline Begin
The European Commission will lead negotiations on behalf of a EU proposed pipeline, which is part of a planned effort with Azerbaijan and Turkmenistan to bring natural gas from the world’s fourth-largest reserves across the Caspian Sea to Europe. The deal is designed to reduce EU dependence on Russian gas imports.
S&P Downgrades US To AA+, Outlook Negative :(
One day we’ll tell our grandkids how awesome everything was before the governments decided to bailout the banks and bankrupted themselves.
It’s official in 2041 Greece will be underwater, right alongside Atlantis.
Its official greece is in selective default. If you’re a holder of Greek bonds right now, (sucks to be u) maturities will be extended, but you have three choices. One: You can do nothing, and hope that Greece pays you in full and on time. two: Extend your maturities out to 30 years, and acceptContinue reading “It’s official in 2041 Greece will be underwater, right alongside Atlantis.”
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