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More here: Race for Negative 30-Year Yields Underway, Swiss In Front With 0.295%; Futility of Draghi’s Upcoming QE
Because of increase strength in the Krone and speculation Denmark would abandon its peg, Danish central Bank Slashes Rates to -20bps . The central bank in Copenhagen lowered its deposit rate to minus 0.2 percent from minus 0.05 percent, according to a statement today. The lending rate was cut to 0.05 percent from 0.2 percent.
See the article here: Sneakin’ In To The USA: Remake of Surfin’ USA: Remake of Sweet Little Sixteen
For details, please see It Only Takes One: Hedge Fund Manager Who Survived Five Debt Crises Wiped Out Overnight on Swiss Franc Repercussions This Swiss Franc peg story goes far beyond speculation on the Swiss franc.
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Bloomberg reports Greek Banks Request Emergency Liquidity as Outflows Grow . Two Greek lenders asked to borrow from the nation’s central bank emergency line as deposit outflows already exceed 4 billion euros ($4.6 billion) this month
Link: Is Faith in Central Bankers Ending? Disinflation or Deflation? Yen-Gold, Euro-Gold Trend Breaks
Even if Finland was agreeable to bailout changes, the Size of Greece’s Debt Limits Scope for Solutions . Eurozone finance ministers agreed in November 2012 to consider further debt relief for Greece once it reached a budget surplus before interest payments, which it did for the last two years, and as long as it stuck to its promises of austerity and reform. But how much scope is there to reduce Greece’s debt burden
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