Category Archives: Characters

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Severing Ties

“Severing ties with sovereigns is easy. Happens all the time here, when a client forgets to take it off…” – anonymous guillotine operator, Paris 1789 Advertisements

Posted in Banks, Debt, Eurotrash, Fiscal policy, Toreador, Uncategorized | Leave a comment

Collect call – a visit by creditors goes horribly wrong

The markets payed a call on Europe but the masters of the house, Cindeurella and the Prince, were both on vacation at different low cost beaches. They were ushered to a waiting room by the doorman, an impressive gentleman of … Continue reading

Posted in Cindeurella, Debt, Fiscal policy, Monetary policy, Politics, Trichet | Tagged , , , , , , | Leave a comment

Euro debt relief relay race: last runner crashed by the baton!

After an heroic resistance, the ECB has finally had to capitulate and reach (once again) beyond its constitutional mandate, by restarting its Securities Markets Program, this time to acquire Spanish and Italian bonds in the market.

Posted in Debt, Trichet | Tagged , , , , , , | Leave a comment

Euro debt haircuts: a question of style

Cindeurella needs a radical change of lifestyle and, as any girl worth her iphone knows, the crucial hurdle is getting the right haircut. A properly styled girl will come by anything she needs, effortlessly. And a girl can need a lot…

Posted in Angela, Cindeurella, Debt, Eurotrash, The tenpins, Trichet | Tagged , , , , , , , , | Leave a comment

Badwill Fund

I was in my office, minding my own business, when the lady got in without knocking and sat down on the client’s chair. I almost cut two toes with the switch blade knife I was using to get the dirt … Continue reading

Posted in Carla | Leave a comment

Spanish saving banks: the dark night of the (faithless) souls

Knowing that much depends on confidence on the side of the markets, the Bank of Spain took a much protracted measure on February and lifted a bit the veil that covers the assets of Spain’s financial system. Some details were … Continue reading

Posted in Banks, Debt, Growth, Toreador | Tagged , , , , , , , | Leave a comment

The gain of Spain goes mainly down the drain

OK, you got me: I know I am by my own rules supposed  to start these posts with a (supposedly) funny cartoon, but it so happens that drawing takes a lot of time. Sometimes it cannot be found and, worse, … Continue reading

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Portugal bluffs a call

On February 11th, Portugal announced that it would buy back up to  9,4 bn of it’s own bonds in a reverse auction to be held this week.

Posted in Debt, Eurotrash, The tenpins, Trichet | Tagged , , , , | 2 Comments

If you can’t beat them… feed them!

On February 4th, the Treasury published its 2010 annual “Foreign Exchange Report” to Congress, where, according to the law that mandates it, it must consider “whether countries manipulate the rate of exchange between their currency and the United States dollar … Continue reading

Posted in China, Exchange Rates, Growth, Tim, Trade, Uncle Sam | Tagged , , , , , , | 1 Comment

German bondage

The European Heads of State and Government who convened last Friday in Brussels for a leaders’ summit found a nasty surprise in their folders, courtesy of the Franco-German de facto presidency of the EU. Our spies in Brussels give us … Continue reading

Posted in Angela, Carla, Eurotrash, The tenpins, Toreador | 1 Comment