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  • The Eurozone Is In A Mess [View article]
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    Apr 24 11:01 AM | Likes Like |Link to Comment
  • The Eurozone Is In A Mess [View article]
    Spain has been THE country hundreds of thousands of Europeans visit during the summer months, and another thousands are residing along the Costa Blanca.But something changed over the years; during this last winter some 30.000 beds were not used by holidaymakers, while in Benidorm alone foreign guests only spent 63 euro/night, while the everage in Spain is 98 euro/night.Unfortunately there is more bad news as "The king of the costa.blogspot"informed us "The british expats must pay their debt" ( hundreds of foreign residents could lose their home after problems with mortgage",and (according to the WSJ of 24/02/2011, 42% of Spanish banks assets ("Cajas") were exposed to some 100 billion in diminised value of their outstanding loans.No wonder Richard Hubbard (Reuters,16/04/2012) wrote "we are back in crisis modem looking more and more the country is going to have,some form, of bailout (according to Rabobank analist).
    Apr 24 11:00 AM | 1 Like Like |Link to Comment
  • The Netherlands may be at increased risk of losing its AAA rating after budget-cut talks collapsed yesterday between the liberal party of PM Mark Rutte and its coalition partner, the Freedom Party. The breakdown of the talks, whose aim was to bring the deficit to below 3% of GDP, could lead to early elections and places in doubt whether the country will OK the fiscal compact.  [View news story]
    What about this "Germany the ONLY honest AAA country, while the rest only by the grace of God and the rating agencies?"(Wsj).The other (have we forgotten) side of the story is,do we, or are we (still) unaware of "unfair"/totally incorrect ratings when less than a decade ago the ratings of,just to name one, "synthetic cdo's" were absolutely beside the fair value of this product? Didn't Janet Tavakoli warn us "it is a develish brew in unscrupoulos hands"?If YOU didn't remember, at least I did. Mercenary
    Apr 23 07:06 AM | Likes Like |Link to Comment
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