Tag Archives: debt

unrequested opinions

Last week, EUS Euro shifted slightly its course, three degrees to North by Northwest, right in course of collision with the icebergs. Advertisements

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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

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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.

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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

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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.

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Profits for the people!

I still have to be convinced that more than 1% of the population understands the concept of risk. That’s for individuals. Public opinion is an entity of very small rationality, and no coherence, memory nor any or the other attributes … Continue reading

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Bail out who?

Once upon a time, a leprechaun found a cauldron full of gold coins in the woods. A troll explained to him that whoever found it was free to take the gold in it, but for each coin he spent, he … Continue reading

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