More Info On Moral Hazard, Global Edition, Via FT Germany
From the FT's German edition. The federal government is preparing an aid package for Greece. As the Financial Times Germany learned from Berlin's coalition parties, both bilateral aid as well as an...
View ArticleClik here to view.
On The Trail Of Europe's "Mysterious" $2.6 Trillion In Toxic Debt
The NYT has a pretty good article about the "mystery" of Europe mega toxic loans, which amount to $2.6 trillion just to Greece, Spain and Portugal, in that all attempts to find out just who is on the...
View ArticleHypo Real Estate Said To Fail Banking Stress Test
The bank that has been bailed out a hundred times before is, shockingly, rumored by Bloomberg to not pass the stress test. In other news, all Greek banks are doing swell for now. More from Bloomberg:...
View ArticleIn Stunning Decision, EU Orders Germany To Start Onboarding "Bad Debt" To...
In what could be the most important news of the day, German Die Zeit reports that, in a stunning move, the EU has ordered Germany to count the holdings of WestLB and Hypo Real Estate (the latter of...
View ArticleClik here to view.
Guest Post: Ireland: Bail-Out With A Boomerang
Submitted by Alex Gloy, CIO of Lighthouse Investment Management Ireland: Bail-out with a Boomerang European government bond spreads have widened dramatically with the second country going bankrupt:...
View ArticleGermany "Raises" €55.5 Billion, or 1% Of Its Debt/GDP Ratio, Thanks To...
As usual, the most surreal news of the day, perhaps week, is saved for Friday night, when we learn that Germany has magically raised over a quarter of its total EFSF obligation of €211 billion by way...
View ArticleFTMFGLOBALW Quote Of The Day
We wrote about this over the weekend, now here is the official "explanation" German Finance Minister Wolfgang Schaeuble said EU55.5b ($76.7b) accounting error at FMS Wertmanagement, so-called bad bank...
View ArticleWikileaks Exposes German Preparations For "A Eurozone Chapter 11"
The following cable from US ambassador to Germany Philip Murphy ("Ambassador Murphy spent 23 years at Goldman Sachs and held a variety of senior positions, including in Frankfurt, New York and Hong...
View ArticleGerman Banks Ready To Accept Greek PSI Terms
In what should come as a surprise to nobody, German banks have announced that they will accept the terms of the Greek PSI whose outcome is due on Thursday. Because as Reuters points out, German banks...
View ArticleMoody's Changes Aaa-Rated Germany, Netherlands, Luxembourg Outlook To Negative
In a first for Moody's, the rating agency, traditionally about a month after Egan Jones (whose rationale and burdensharing text was virtually copied by Moody's: here and here), has decided to cut...
View ArticleFrontrunning: May 15
Once a beacon, Obama under fire over civil liberties (Reuters)Eurozone in longest recession since birth of currency bloc (FT)EU Oil Manipulation Probe Shines Light on Platts Pricing Window (BBG)BMWs...
View ArticleClik here to view.
On The Trail Of Europe's "Mysterious" $2.6 Trillion In Toxic Debt
The NYT has a pretty good article about the "mystery" of Europe mega toxic loans, which amount to $2.6 trillion just to Greece, Spain and Portugal, in that all attempts to find out just who is on the...
View ArticleIn Stunning Decision, EU Orders Germany To Start Onboarding "Bad Debt" To...
In what could be the most important news of the day, German Die Zeit reports that, in a stunning move, the EU has ordered Germany to count the holdings of WestLB and Hypo Real Estate (the latter of...
View ArticleClik here to view.
Guest Post: Ireland: Bail-Out With A Boomerang
Submitted by Alex Gloy, CIO of Lighthouse Investment ManagementIreland: Bail-out with a BoomerangEuropean government bond spreads have widened dramatically with the second country going bankrupt:...
View ArticleGermany "Raises"€55.5 Billion, or 1% Of Its Debt/GDP Ratio, Thanks To...
As usual, the most surreal news of the day, perhaps week, is saved for Friday night, when we learn that Germany has magically raised over a quarter of its total EFSF obligation of €211 billion by way...
View ArticleFTMFGLOBALW Quote Of The Day
We wrote about this over the weekend, now here is the official "explanation"German Finance Minister Wolfgang Schaeuble said EU55.5b ($76.7b) accounting error at FMS Wertmanagement, so-called bad bank...
View ArticleWikileaks Exposes German Preparations For "A Eurozone Chapter 11"
The following cable from US ambassador to Germany Philip Murphy ("Ambassador Murphy spent 23 years at Goldman Sachs and held a variety of senior positions, including in Frankfurt, New York and Hong...
View Article
