Friday, Nov 23, 2007
Europe beginning to crack
The Telegraph: Eurozone split as bond spreads hit 6-year high
Investors in Europe have suddenly become wary of Italian, Greek, Spanish, and Belgian sovereign bonds, driving spreads over German government bonds to the highest level in six years.
Posted by sold 2 rent 1 @ 08:00 AM (380 views) Add Comment
4 Comments
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1. dohousescrashinthewoods said...
I guess people are starting to realise that governments are just as crooked as the big banks because they are licensed to print money they don't have and probably couldn't earn in a hundred years.
2. lvmreader said...
How about French Sovereign Debt? After Spanish Government Notes and Bonds, it must be the European mother of all toxic waste debt.
We are going to need to divide the Euro into subspecies: The Eur.FR (Franc), Eur.DM (Mark), Euro.ES (Peseta), EUR.GR (Drachma), EUR.IT (Lira) and Eur.BF (Belgian Franc).
This is so the better performing parts of Europe aren't constricted by the feckless ones.
Oh hang on, isn't that what we used to have?
3. Tangara said...
dear lvmreader,
French debt is a small fraction of British debt... and France still have an industry (cheese, wine, EADS...) :)
4. su said...
With all this talk of printing money, does anyone know whether there is anything preventing certain banks in Scotland from printing more money if they get into trouble? I believe that scottish notes are accepted in at least some parts of England.