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Economy
In reply to the discussion: STOCK MARKET WATCH, Tuesday, December 13, 2011 [View all]xchrom
(108,903 posts)7. Debt repayment is driving the EU back to recession
http://www.guardian.co.uk/business/economics-blog/2011/dec/12/debt-crisis-ratings-agencies
Italian bond rates are on the way up again. Spanish bonds are following in their wake. Among the credit rating agencies, Moody's says the eurozone deal last week was weak and added little to previous emergency summits. In its opinion, the eurocrats gathered for a lengthy chat and neglected to give any details for future action. Standard & Poor's is expected to strip France of its AAA status any day.
The market remains uneasy and for good reason. As my colleague Larry Elliott has already described, the EU is huddling closer together against the chill winds blowing from the debt markets with only a T-shirt and shorts for cover.
They need to buy themselves some winter warmers, but all the spare money in the kitty is going to pay debt.
It is a situation that calls for a war analogy and, as you might expect, war analogies are everywhere. Mostly, they relate to the second world war and the need for solidarity among European nations.
Italian bond rates are on the way up again. Spanish bonds are following in their wake. Among the credit rating agencies, Moody's says the eurozone deal last week was weak and added little to previous emergency summits. In its opinion, the eurocrats gathered for a lengthy chat and neglected to give any details for future action. Standard & Poor's is expected to strip France of its AAA status any day.
The market remains uneasy and for good reason. As my colleague Larry Elliott has already described, the EU is huddling closer together against the chill winds blowing from the debt markets with only a T-shirt and shorts for cover.
They need to buy themselves some winter warmers, but all the spare money in the kitty is going to pay debt.
It is a situation that calls for a war analogy and, as you might expect, war analogies are everywhere. Mostly, they relate to the second world war and the need for solidarity among European nations.
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Rememeber that London made such a strong deliberate effort to become a huge banking center
dixiegrrrrl
Dec 2011
#54
middle east: Qatar’s Shares Retreat Most in Three Week as Europe Rating-Cut Concerns
xchrom
Dec 2011
#8
aha..so THAT is how it went down. I knew not, and really appreciate seeing the bigger picture.
dixiegrrrrl
Dec 2011
#58
This is about as Meta as I'm going to get here, but, I thought it needed to be said.
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Dec 2011
#79
whatever opinions I hold about the placement, they are not directed at you
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