The EU periphery is back in the news with the opposition Socialist party calling for PM Rajoy to...

The EU periphery is back in the news with the opposition Socialist party calling for PM Rajoy to resign amidst a widening corruption scandal. The IBEX 35 is down 1.6%, and off nearly 8% in the past few days. "The dynamics in Spain are devastating," says Commerzbank's Michael Leister, recommending selling Spanish debt. Spanish 10-year note yields +10 bps to 5.31%.
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Comments (4)
  • schatzl
    , contributor
    Comments (391) | Send Message
    Why the sudden change of heart? I thought Europe was fixed?


    Really, I get the impression media and investors are fickle and superficial. Nothing is different today than it was 6 months ago. Merely the fundamentals have deteriorated - but that was to be expected.
    4 Feb 2013, 08:00 AM Reply Like
  • JREB777
    , contributor
    Comments (37) | Send Message
    What is different today is the realization that there may be no way out for Spain. So in essence Europe is not fixed and the disintegration of the EU might again be an expected outcome.
    The World depression marches on, the only difference is that every day more and more people realize this.
    4 Feb 2013, 05:09 PM Reply Like
  • divinecomedy
    , contributor
    Comments (465) | Send Message
    I have a feeling that some power is pulling the strings behind the scenes when it comes to Europe. When they are ready to sell, the dirty photographs come out, otherwise they stay in the drawer and it's time to go long. What are the chances of 2 scandals happening at 2 different Euro (the PIIGS) countries at the same time? Perhaps I am naive and the answer is that it's pretty high, but really why haven't we seen this the last 3 years?


    Disclosure: Have no position either way.
    4 Feb 2013, 09:26 AM Reply Like
  • Michael Clark
    , contributor
    Comments (11579) | Send Message
    YES, DC. Love your name. You are right. The big money makes money off the Euros advance; and when they are ready to make money off the Euros fall, they will also.


    Speculators. Friends of themselves.
    4 Feb 2013, 03:53 PM Reply Like
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