Yesterday I mentioned how I thought Italy would ‘find’ some debts it had somehow not noticed in its cities and municipalities. And today Spain shows how it’s done. The Wall Street Journal reports how the Spanish region of Castilla la Mancha, when its new regional government audited the accounts found that the real debts were more …
How to hide debts. Spain shows how its done. Blueprint for Italy. Read More »
Well Italy is certainly doing the business for Europe and the Euro today as I suspected it might. Italy’s other huge bank Intesa Sanpaolo just dropped 6% of it share price before trading in its shares was halted. All the European bourses are way, way down. French and German exchanges are down 2%+ while Spain …
Thought you might like to know the Guardian asked me to write an opinion article for CiF and they have published it today. The title is “Banking’s bond holders and the double standards over repaying debt.”
I think there is something big, possibly very big, about to surface in the Sovereign debt bond markets. What follows is pure speculation. so please take it as no more than that. But the signs seem ominous to me. First the facts. On Friday Italian government bonds got a kicking. The demand for Italy’s standard …
Another conversation with my acquaintance, another detail. I have written before about how banks routinely make a mockery of the whole idea of bank regulation, in “Why Bank Regulation is a joke“, and in “Who Bankrupted Ireland?“. Here is another peek inside the moral vacuum which is International Banking. This source of this story swears it …
At what point do the financial experts have to admit the plan has not worked and that they are as lost? Today the latest employment US figures revealed just how utterly clueless those financial experts are. The ‘expectation’ of surveyed Wall Street experts for the employment figures was for 105K to be added. The result …
