The world's tensions have signficantly escalated today, with North and South Korea at each other's throats, and the situation in Europe getting dire.
The Wall Street Journal reports that things in Europe got worse as the "market homed in on Spain as another potential weak spot, leaving officials scrambling to quell investors' fears".
Of course, the Spanish Prime Minister dimissed the rumours and sadi there was absolutely no chance for a Spain bailout. But Ireland did the same just days before one was forced down their throats to save the foreign banks investments..
The WSJ says that his attempts to calm the markets had little effect, the euro is tumbling and the selloff in Spanish and Portuguese sovereign bonds is continuing.
"Sparking Friday's markets turmoil was a report in Friday's Financial Times Deutschland, which quoted unnamed German finance ministry officials as saying an aid package for Portugal would reduce the chances that Spain would also need a bailout.
The Portuguese and Spanish governments, the European Commission and Germany's finance ministry all denied the report, saying pressure wasn't being placed on Portugal to seek help. "It's absolutely, completely false—every reference for an aid plan for this country. It has neither been asked for and neither have we suggested it. It is absolutely false," said European Commission President Jose Manuel Barroso, a former Portuguese prime minister.
But the report still caused the euro to tumble against the dollar to $1.3252 from $1.3355 late in New York Thursday".
Friday, November 26, 2010
Tensions Escalate in the Koreas and Europe, Spain Targetted
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2010
(1051)
-
▼
November
(105)
- Citigroup: Portugal is Insolvent
- Spain's Yields Jump As Its Banks Will Struggle To ...
- Roubini: There is Not Enough Money To Save Spain
- 50,000 March in Dublin Against Irish Budgets Plans...
- Tensions Escalate in the Koreas and Europe, Spain ...
- Brazil Raises Minimum Credi-Card Payments to 20% T...
- Irish Unions: Government Has No Mandate to Sign Re...
- Chaos In Irish 10-Year Bonds: At Highest Ever Sinc...
- ECB: "It Is Inconceivable That The Euro Fails"
- Ireland In Chaos, Massive Cuts, Massive Strikes Pl...
- The Farce: Irish Banks Passed European Bank Stress...
- Canadian Inflation Jumps, Much Higher Than Expected
- Chaos in Ireland: ECB Says "The Euro Will Survive"
- Irish Government Agrees on Bank Bailout Then Colla...
- Irish Government Loses All Remaining Credibility: ...
- The U.S. Is Following Japan Right On
- The QE2 Purchase Schedule
- Roubini and The Elephant in The Room; Will Need Ma...
- Meredith Whitney: Municipals Will Default, There W...
- Bernanke: U.S. Risks Having Millions of Unemployed...
- "We Serve Neither King Nor Kaiser But Ireland"
- Ireland Mourns Bailout Forced Down Their Throats
- Irish Bank Bailout - The View From Ireland: Sovere...
- Why Would The Irish People Sink Into More Debt to ...
- FT: Europe Should Prepare Now For a Run on The Ban...
- Attention UNG Lovers: Natural Gas Contango Ends fo...
- The GM IPO Travesty
- OECD Releases Outlook for 2011; Cuts China's Growt...
- Petrobras Finds More Light Oil In Brazil: To Be Nu...
- The Real Letter From Warren Buffett To Uncle Sam
- Latest Roubini Video: QE2 Will Have Little Impact,...
- Evolution of Historical Yields Show In How Much Tr...
- Unlike Bernanke, Europe Can't Just Throw Money Fro...
- Euro Zone A Terrible Mess, Falling Apart At The Se...
- Wild Volatile Movements in Currencies and Gold: Ve...
- Yen's Huge Drop Allows for Big Profits On The FXY ETF
- Bernanke's Dream: U.K. Inflation Jumps to 3.2%
- Boeing, Airbus, Embraer in Trouble: End of Major A...
- Yen Dropping Hard, Touched 82.985
- Ireland in Talks With ECB For 60B to 80B Euros Bai...
- QE2: Bonds Are Acting Wild
- Nassim Taleb Blasts Bernanke, Says The Fed's Busin...
- Great Deal on Yuan 2011 Options Through CYB ETF
- G20: Victory for Emerging Countries, Green Light t...
- The Yen Collapsing - Again
- ECB On Path To Force Ireland and Portugal Bailout:...
- Beware The Weekly Options: CSCO Options Expire Today.
- China's Inflation Jumps to A 25-Month High; Food I...
- G20 Summit: Brazil Defends Use of New Commercial C...
- G20 Summit: China Flatly Rejects Proposals and Acc...
- Now Geithner Says Greenspan is Wrong
- Latest Report: There are Five Unemployed For Every...
- Yuan: A Perfect Buy Signal
- Wild FXY Trades
- Brazilian Stocks In New York: Spectacular Returns
- This is What The G20 Countries are Arguing About; ...
- Greenspan Admits U.S. Seeks Currency Weakening
- Brazil's VIV Profit Jumps 81%
- Chinese Rating Agency Lowers U.S. Ratings: "U.S. S...
- Canada: No Gold in Global Currency System
- Shocking Letter From Obama to G20
- Brazil: U.S. Opened an Exchange War With Disguised...
- Wild Currencies: The Yen at 6AM Continues Massive ...
- VISA Floods Market With 0% Cheques Again
- Brazilian Automobile Industry Surpasses U.S. and G...
- Brazilian Monthly Inflation Jumps To Highest Since...
- Gold Straddles Show Stellar Performance: GLD (+217...
- Huge Move on the Yuan Overnight
- Germany Takes Gloves Off: U.S. Lived on Borrowed M...
- Natural Gas and Gold Are Rocking Today
- VXX To Jump Tomorrow!
- Post-QE2 Options Results: Spectacular for XLF and ...
- A New All-Time Record High for Gold, and GLD ETF
- QE2: The G20 is Now G19+1, All Against the U.S., T...
- Brazil's Automobile Production Beats Previous Annu...
- World Bank: New Monetary System To Include Gold
- Rescued Chilean Miner Completes New York City Mara...
- Brazil Has 5 Massive and Nasty Weapons Against QE2...
- Germany: Bernanke Was Clueless With QE2
- Rosenberg: Bernanke is Bearish, That's Why He Did ...
- World Reacts Negatively to QE2, Brazil and Others ...
- Gold at a Whisker From $1,400
- ECB Refuses To Release Information on How Greece H...
- QE2 And The Huge Effects On Oil
- QE2 and The Bank of Japan Reaction: FXY Options
- Pimco Says QE2 Likely to Backfire: New Protectioni...
- Post QE2: Brazil's Stocks Near All-Time High, Again
- QE2 Aftermath: Gold Rocks; Gld Straddles At + 63%,...
- QE2, Gold, and Yamana: Explosive Combination
- The Top Three Global Stock Exchanges
- The Best Countries To Have Invested In Through ETFs
- Roubini: Another Nasty Crisis; Forget Subprime, Lo...
- U.S. Homeownership Rate at 10-Year Low: 66.9%; Ban...
- Profitting From UNG's Moves Either Way, Recovering...
- QE2 And The Expected Wild Currency Moves: Straddles
- $500B or $2T? Profitting From the QE2 Announcement...
- BP Raises Costs of Gulf Oil Spill to $40B
- QE2 May Trigger Full Demise of US Dollar, Out of C...
- Australia Raises Rates to 4.75%: Aussie Dollar Ris...
- QE2 May Be The Biggest Non-Event Ever
-
▼
November
(105)
No comments:
Post a Comment