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Posts Tagged ‘Spain’

What Will Happen in Greece, Spain, and the EU?

Posted by Larry Doyle on May 22nd, 2012 5:47 AM |

I love listening to and reading the thoughts of well informed financial pros.

All eyes and ears are justifiably tuned in to developments in Greece, Spain, and throughout the EU. Will Greece leave the EU and precipitate runs on the bank in other European nations?  Let’s navigate and get the insights from industry insider, Michael Platt of Bluecrest Capital Management.

Platt has received significant attention in the marketplace recently as one of the traders on the other side of JP Morgan’s losing credit bet.  Having ‘harpooned’ JP Morgan’s London whale, Platt offers a wealth of valued perspectives on developments in Europe and on the situation at JP Morgan. He was interviewed recently on Bloomberg.   (more…)

Spanish Unemployment Hits 24.4% !!!

Posted by Larry Doyle on April 27th, 2012 11:26 AM |

Think Spain is speeding on its way over the proverbial cliff? Let’s emphasize the “speeding”.

Continuing on our focus today of issues within the EU, Spain — merely the 9th largest economy in the world — announced today that its unemployment rate hit 24.4%. For purposes of context, that rate stood at a relatively mild 7.9% in 2007. 

OUCH…24.4% unemployment is a whole lot of pain!!!  (more…)

IMF: “Spain’s Economy Needs Far-Reaching and Comprehensive Reforms”

Posted by Larry Doyle on May 25th, 2010 9:00 AM |

Global markets are down 2-3% overnight. What is going on?

From a military standpoint, all eyes are focused on the Korean Peninsula after North Korea’s admission of sinking a South Korean vessel in late March. How will the world respond? Will the U.S. issue some sort of warning shot across the North Korean bow? Will the international community, and especially those who treasure freedom, rally and aggressively denounce the North Korean’s aggression or will we witness what amounts to a ‘kumbaya’ session?

From an economic standpoint, all eyes are focused on the Euro-zone where fiscal pressures remain elevated. Today the focus is Spain. (more…)

When Will Euro-PIGS Fly?

Posted by Larry Doyle on February 5th, 2010 10:56 AM |

Wall Street has more than bulls and bears. Trading desk banter often refers to the presence of ‘pigs’ in the market. Years removed, I can still hear traders saying, “this market’s a pig,” “this bond’s a pig,” and “that account is a pig.” Well, with my morning coffee I saw a new utilization of this famed reference. I chuckled but also realized the seriousness of the new pig reference in regard to the increasingly dire fiscal situation in the European Union.

What are the PIGS across the pond? Portugal, Italy, Greece, and Spain.

The Wall Street Journal highlights the disastrous fiscal situation in these countries in writing, Sovereign Risk Meets Sovereign Reality:

After months of shrugging off debt problems in Dubai, Greece and other smaller economies, markets yesterday seemed suddenly aware of the risks of sovereign default. (more…)

Let’s Revisit Europe: The Weakest Link

Posted by Larry Doyle on March 17th, 2009 5:15 AM |

I thank our loyal reader in Michigan, Mr. Fiscal Liberal, for sharing with us a piece written by Simon Johnson, the former chief economist of the International Monetary Fund, a professor at the MIT Sloan School of Management, and a senior fellow at the Peterson Institute for International Economics.

Mr. Johnson writes about the growing problems in Europe. I am hard pressed to see how the European situation, both in the East and West, can not end badly. There are too many economies that are effectively insolvent or on the brink of insolvency. I believe this is the region of the world which will experience increased economic strife leading to social unrest and political change. Can the problems in Europe be contained given the massively interconnected world of global finance? 

Thank you again FL for sharing this very enlightening piece from Simon Johnson!!   

G-20s Real Agenda Should be Saving Europe from Itself
By Simon Johnson
Last Updated: 10:28AM GMT 16 Mar 2009

The media coverage of the G20 finance ministers meeting this weekend was dominated by the apparent battle between those who support more fiscal stimulus and those who want to impose more regulations on the financial system.

This, we are led to believe, is the big debate facing the full G20 heads of government summit early next month: the US is pushing for a bigger global fiscal stimulus (2pc extra government spending from everyone, to be monitored by the IMF), while the continental Europeans are holding out for greater regulation. Gordon Brown is trying hard to cast himself as the broker for any apparent deal.   (more…)






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