Thursday, February 19, 2009

Risks of systemic contagion across the eurozone

EU mulls action as Ukraine crumble triggers contagion fears for Europe

Europe's institutions are scrambling for ways to prevent financial contagion from Ukraine and the rest of Eastern Europe from setting off a full-blown banking crisis in Austria, with risks of systemic contagion across the eurozone. West European banks have lent roughly $1.6 trillion (£1.13 trillion) to the region, led by Austrian, Swedish, Italian, Greek, Belgian, and Swiss banks. Almost $400bn must be rolled over this year in hostile markets.

Posted by troy @ 08:21 PM (651 views)
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One thought on “Risks of systemic contagion across the eurozone

  • This is looking unfortunately; like the trigger for events of epic proportions, which will of course affect us all. I was watching live gold prices a couple of minutes ago – gold steady on the up – just topped out on £691 an ounce. Bear in mind it only went into £600 territory a couple of weeks ago. Gold is sending some very strong signals and I suspect that soon gold will go into warp drive and will quickly pass the previous all time high of 1980 when it went to $1032 if I recall. Holders of physical gold are easily going to double their money soon and that is being conservative, (with a small ‘c’). Big probs in Ukraine and Putin may well want to bring it back under Russian control.

    PS. When will Darling get rid of those bloody rose tinted specs that he wears? (Or is it just my telly.)

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