Saturday, January 14, 2012

C’est la Vie

Why the eurozone downgrades matter

or.... Friday the 13th part ?? in 3 D[rachma] "The downgrade by S&P of a whole string of eurozone countries should not in the short-term cause a sharp worsening in the currency union's financial crisis." not sure i concur with RP..... comments are interesting. Actually think we are quite near the trough of the Euro selling cycle - and that after a "bit" more downside the Euro will strengthen against other currencies. When and at what level..... hmm,

Posted by techieman @ 08:48 AM (1600 views)
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3 thoughts on “C’est la Vie

  • “Here I go again on my own….”
    My favourite hobby-horse, the ratings agencies. They should be banned from doing business. They behaved in a criminally negligent way in the creation of the crisis. Compulsive liars and brigands – allowing the same pre-crisis agencies to have a say in the post-crisis world is extreme nincompoopery.

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  • Is that BBC headline written by an economist or a physicist?

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  • The ECB is aggravating the recession by saying no to counter-cyclical policies and forcing indebted countries to undergo internal devaluation and debt deflation to meet budget targets, thus reducing govt revenues and increasing deficits. The €489 bn loans (and the promise of more) merely keeps the banks afloat. €452 of that was deposited back at the ECB because the banks need to keep all the money they could get their hands on just to stay solvent. The amount they loaned out was negligible.

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