With Dexia Done, Here Is Who Is Next: A Visual Euro Bank Liquidity Vs Funding Exposure Matrix A group of European politicians is plotting to impose the financial transaction tax (FTT) in a way that Britain would be powerless to veto, a British MEP has warned. EUROPEAN Central Bank President Jean Claude Trichet yesterday used his last appearance before the European Parliament to passionately call on politicians to accept their "collective responsibility" for the destiny of the eurozone and the EU. Commentary: Europe’s leaders dither when decisive action is needed Sure, it would be expensive. But the policies the EU is following right now are expensive as well. The choice is between expensive and working, and expensive and not working.
http://www.zerohedge.com/news/dexia-done-here-who-next-visual-euro-bank-liquidity-vs-funding-exposure-matrix
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8804058/European-politicians-plot-to-block-UK-veto-on-Tobin-tax.html
http://www.independent.ie/business/european/trichet-in-swan-song-plea-for-collective-action-2896153.html
http://www.marketwatch.com/story/europe-watches-the-elephants-charge-2011-10-05
More bailouts, a fiscal union and more firepower for the EFSF simply perpetuate the chaos. That comes at high price. It is impossible for investors or companies to plan sensibly when the world’s second biggest currency is constantly teetering on the edge of collapse. Who would want to build a factory in Italy when they don’t know what their currency will be in five years time? Who would want to deposit money in a Spanish bank?
Uncertainty hits confidence, and confidence impacts on growth. The euro has become the main source of uncertainty in the global economy. The markets should be clamoring for the single currency to be taken apart in an orderly way
http://www.marketwatch.com/story/dont-clamor-for-a-euro-rescue-demand-a-breakup-2011-10-05?reflink=MW_news_stmp
Wednesday, 5 October 2011
Posts
