Hard hitting global and local news
Hard hitting global and local news
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Juergen Stark, former ECB chief economist (who resigned in 2011 over a dispute regarding bond purchases), says in an interview in Handelsblatt "The Euro crisis will worsen in late autumn" Via Google Translate A year ago, ECB chief Draghi announced plans to do anything to save the euro. The former ECB chief economist Juergen Stark considers this fatal. He fears that the ECB will soon have to support France with bond purchases
Continue reading here: Portugal Uncorks Bottle of EU Crisis Genie
Read More: Bundesbank Chief States the Obvious "ECB Cannot Solve Euro Zone Crisis"; Unstated Message "No One Else Can Either"
Credit Contraction Exceeds 6% in Spain, Highest Ever in Crisis According to prime minister Mariano Rajoy, Spain has been on the verge of recovery for two years. Rajoy has also promised to bring Spain’s budget deficit to 3% of GDP for two straight years. And EU has extended the timeline for Spain to hit that goal from 2012 to 2013 to 2014 to 2015 and now to 2016.
With the Fed forcing interest rates low, commercial and industrial lending has picked up. That may sound like a good thing, but is it? I suggest it’s not.
Hollande’s Popularity Sinks to 28%, a New Record Low Posted by Michael Shedlock at 12:11 PM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s).