I thought it might be a good moment to take a broad look at Spain’s financial troubles and outlook. For those of you who tire of details, the executive summary is that is that it is bad and without a doubt going to get considerably worse over the next 6 – 18 months despite Spanish …
Portugal’s entry in the EuroFiscal Corruption Contest is a more modest affair than Spain’s. It centres round a simple fact, which I picked up a few days ago from Bloomberg, that Isabel dos Santos, the daughter of Angola’s president, is the biggest shareholder in Portuguese cable-television company Zon Multimedia (ZON) SGPS SA, and holds 19 percent of Portuguese …
The Eurofiscal Corruption Contest – The Portuguese Entry Read More »
Revealing news this today – According to Frankfurter Allgemeine Credit Default Swaps for many of Europe’s biggest banks shot up yesterday. And what is most interesting is which banks fared worst: the big two in Spain, BBVA and Santander and in Germany, Commerzbank. Why should CDS costs shoot up yesterday? Well yesterday was, as I noted in …
Bond holders hint at the real state of Europe’s banks Read More »
