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More here: Government Debt Held by Spanish Banks Doubles in Seven Months; Deleverage? What Deleverage?
See more here: Spain’s Social Security Fund Runs Out of Money; Full Sovereign Bailout Hits €300 Billion; Breathtaking Implosion in…
In a case of Dutch Discontent, Socialists Ride Wave of Anti-EU Sentiment The economy is in trouble and unemployment is rising — in the Netherlands as in much of the rest of Europe. Ahead of upcoming elections, the Socialists are riding a wave of euro-skepticism and may emerge as the strongest political force in the country. According to the polls, [Emile Roeme] the former elementary school teacher could become the next prime minister of the Netherlands
See original article: I’d seriously like to make a Wall Street Journal Daily LaughAlong App
View article: ECB Slated to Become "Currency Forger of Europe"; Merkel, the "Teflon Chancellor"
Pettis on Debt, Currency Wars, Commodity Prices and Capital Flight; China FDI Contracts 8.7% YoY, 8th Drop in 9 Months The much-denied hard landing in China is now underway with weakening data everywhere one looks.
Originally posted here: Germany 6% Current Account Surplus a "Threat to the Continent" Says EU Commission; Solution is Gold Coupled…
Der Spiegel has published an inane article about Europe’s 10 Most Dangerous Politicians . Top 10 List Markus Söder , Bavarian Finance Minister: The politician from the Christian Social Union, the conservative sister party to Chancellor Angela Merkel’s Christian Democratic Union, is known for his tub-thumping rhetoric and has stepped up a gear in the euro crisis with vitriolic comments about Greece
Problem in Europe is Arithmetic, Not Confidence; Why the Eurozone Cannot Possibly Survive Intact Via email, Michael Pettis at China Financial Markets makes a compelling case why Spain is destined to leave the euro. For ease in reading, I added the subtitles in bold
Bloomberg reports Monti Calls for More Crisis-Fighting Urgency in ECB Standoff Italy’s Prime Minister Mario Monti warned of a potential breakup of Europe without greater urgency in efforts to lower government borrowing costs, as a standoff over European Central Bank help for Italy and Spain hardened. Monti, in an interview with Germany’s Der Spiegel magazine published yesterday, said that disagreements within the 17- nation euro area are detracting from the policy response to the debt crisis and undermining the future of the European Union. Spain and Italy, whose surging borrowing costs have shunted them to the heart of the turmoil in the euro area, are resisting pressure from ECB President Mario Draghi to formally request aid in return for strict conditions before the central bank will buy their bonds