Seeking Alpha

Rubicon Associates'  Instablog

Rubicon Associates
  • on Bonds
Send Message
Rubicon Associates is headed by a Chartered Financial Analyst with over 20 years of experience in the investment management industry focused on the analysis, investment and management of fixed income and preferred stock portfolios. Over the years, he has analyzed and invested in both public and... More
My blog:
Follow me on twitter @RubiconAssoc
  • Italy - Fanning The Fires With A Loan Moratorium 1 comment
    Jul 15, 2012 12:19 AM

    Crazy, just crazy. What will this solve? Need more examples of why Europe is on the brink?

    NYT

    Small and medium-size Italian companies will be permitted to suspend payments on 3.6 billion euros ($4.4 billion) of debt for as long as a year, the Finance Ministry of Italy said on Saturday.

    Since a loan moratorium began on March 1, Italian companies have made 16,000 applications to postpone 5.5 billion euros of payments, the ministry said. About 10,000 applications were processed through May, and the rest are being addressed.

    The nation's business associations and the Italian Banking Association agreed this year to extend an earlier moratorium to cope with the country's fourth recession since 2001. The previous moratorium, begun in August 2009, allowed 260,000 companies to delay 15 billion euros of payments, the association said in February.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: italy
Back To Rubicon Associates' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (1)
Track new comments
  • jbzw
    , contributor
    Comments (625) | Send Message
     
    All these countries have or will take a turn in the bottom of the barrel. While US securities are far from perfect, I use them almost exclusively, with very few exceptions such as RBS. I even avoid multinational companies that can be hurt by the dangerous environments abroad. Careful and successful investing can be achieved without worrying that some folks in far place can screw up your finances. Thanks for the latest bad news from abroad.
    15 Jul 2012, 07:26 PM Reply Like
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Most Commented
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.