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

They may be the lowest form of human life, but when it comes to defending their wealth the Financial class are not stupid. They know they need to make us, not them, pay for those debts whatever it costs. That’s why, to quote one leading market analyst, ‘there are still doubts on whether the peripheral

Three men spoke out this last week, between then they paint a picture of our crisis: John Lipsky, Acting Head of the IMF, Greek Deputy Prime Minister, Theodorus Pangalos and Mervyn King Governor of The Bank of England. According to the Greek Deputy Prime minister, Theodoros Pangalos, Greece “may have trouble”  passing some of the

Sometimes its the little details that tell the story. Here’s one such small detail that makes me think that I’m not the only person in Europe who thinks this crisis isn’t over. A friend of mine in the financial world in Switzerland, told me today that the Swiss banks have very nearly run out of

For the last 3 years the only plan our leaders have had, has been to ‘kick the can’ down the road. They wouldn’t admit to it of course, but that is what their actions of the last 3 years have amounted to. Putting off making any real changes or reforms that the bankers would not

The Greek government has won its confidence vote.  Stock markets will rally. So is it over? Crisis averted? MarketWatch think so. They’re already talking about this being see as the moment when Greece avoided default.  But they are wrong. Step back and ask yourself why, after two years of virtually zero percent  Central Bank interest