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European Debt Markets 'face Second Credit Crisis'

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http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8234231/European-debt-markets-face-second-credit-crisis.html

Banks alone must refinance about €400bn (£343bn) of debt in the first half of the year, but add in the more than €500bn European governments must replace over the same period, as well as further hundreds of billions of euros of mortgage-backed debt maturing and there is the potential for chaos in the credit markets.

"What we are looking at here clearly has the potential to become a second credit crunch. However, this time it would be much worse than before," said Celestino Amore, founder of IlliquidX, which specialises in trading hard-to-price debt.

"Governments have been able to slow down the process, but the problems did not go away. There remains trillions of dollars of debt that must be refinanced or sold."

Looks like the ECB will be busy buying this crap.

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With freshly printed digital Euros no doubt.

Of course. They've had the printing press fired up for a while now and have grown accustomed to using it.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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