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Realistbear

Portugal -- Bad Start For 2011

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http://uk.finance.yahoo.com/news/Portugal-borrowing-costs-jump-tele-593342855.html?x=0

Bloomberg and agencies, 14:08, Wednesday 5 January 2011
Portugal found its six-month borrowing costs have soared, when the country became the first of the high-deficit eurozone nations to test investor demand for its debt today.

2011 is continuing where 2010 left off--the PIIGSB are starting to wobble badly.

The question is--who is next? Probably Portugal and then Spain.

Euro's anyone? :ph34r:

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http://uk.finance.yahoo.com/news/Portugal-borrowing-costs-jump-tele-593342855.html?x=0

Bloomberg and agencies, 14:08, Wednesday 5 January 2011
Portugal found its six-month borrowing costs have soared, when the country became the first of the high-deficit eurozone nations to test investor demand for its debt today.

2011 is continuing where 2010 left off--the PIIGSB are starting to wobble badly.

The question is--who is next? Probably Portugal and then Spain.

Spain is rock-solid. Why, there was only a 48% fall in housing transactions since the summer.

http://www.guardian.co.uk/money/2010/dec/26/spain-housing-market-falling-house-prices

I can see it now, if transactions fall another 25%, it's the Spring Bounce! How safe I feel with Santander! :(

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Euro's anyone? :ph34r:

What's that supposed to mean? If the ECB/Germany decide to allow debtor nations' interest rates to rise (and yes, even allow them to default) then that should be very good for the euro. It shows that they would rather allow defaults than debase the currency.

The alternative is to print a ton of euros and hand them out to these governments like sweets, which is pretty much what the Fed is doing with Treasuries in the US.

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What's that supposed to mean? If the ECB/Germany decide to allow debtor nations' interest rates to rise (and yes, even allow them to default) then that should be very good for the euro. It shows that they would rather allow defaults than debase the currency.

The alternative is to print a ton of euros and hand them out to these governments like sweets, which is pretty much what the Fed is doing with Treasuries in the US.

Ambrose has it right, they'll print.

Enough to p*ss off the Germans, not enough to please Southern Europe, and no-one will be happy.

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http://uk.finance.yahoo.com/news/China-vows-help-Europe-beat-afp-1718979640.html

David Williams, 11:41, Wednesday 5 January 2011
Chinese Vice Premier Li Keqiang vowed on Wednesday to help Europe (news) beat its debt crisis, starting a three-nation tour with promises to buy Spanish bonds and sign multi-billion-euro contracts.

Cavalry to the rescue.

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Spanish services PMI out today for December. Pretty grim, falling at its fastest rate for year (http://www.forexpros.com/news/interest-rates-news/spain-service-sector-shrinks-at-fastest-rate-in-year--pmi-184859). It represents about 60% of the economy, the manufacturing survey was also weak especially in regards to job creation.

Hard to see how Spain is going to avoid a return to recession and associated debt spiral / banking crisis. I don't think we have even seen the first stage of the real problems with the economy.

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http://uk.finance.yahoo.com/news/China-vows-help-Europe-beat-afp-1718979640.html

David Williams, 11:41, Wednesday 5 January 2011
Chinese Vice Premier Li Keqiang vowed on Wednesday to help Europe (news) beat its debt crisis, starting a three-nation tour with promises to buy Spanish bonds and sign multi-billion-euro contracts.

Cavalry to the rescue.

Will this be with US dollars?

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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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