Eurozone debt crisis

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Euler
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Ireland to exit international bailout in December

Ireland is to make a clean break from its three-year 85bn euro (£71bn) bailout programme next month, without seeking precautionary funding.

http://www.bbc.co.uk/news/world-europe-24937245
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BJGardner
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Shocked by this BBC report.

http://www.bbc.co.uk/news/business-25861717

Is HSBC the next Northern Rock?
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kelpie
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BJGardner wrote:Shocked by this BBC report.

http://www.bbc.co.uk/news/business-25861717

Is HSBC the next Northern Rock?
Doubt it.

Just looks like anti-money laundering/anti-drugs/anti-jihadists. Maybe communicated wonky but reasonable.

They got burned in Mexico...
andyfuller
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Got burned in Mexico is one interpretation of what went on.....

As for this latest story, it is a non story imo. Staff just being a bit over the top with their checks whichs sounds like it is being sorted out with new guidance from Head Office.
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kelpie
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andyfuller wrote:Got burned in Mexico is one interpretation of what went on.....
that's much fairer comment :D

Yes... HSBC deceived in Mexico and got caught would have been a better description by me!!
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Euler
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How things have changed in Greece

Huge investor demand for Greece bonds

http://www.bbc.co.uk/news/business-26967027
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superfrank
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Euler wrote:How things have changed in Greece

Huge investor demand for Greece bonds

http://www.bbc.co.uk/news/business-26967027
they haven't changed, Greece is still royally screwed. the only reason there is appetite for these bonds is that the ECB have provided a backstop (promising to buy PIIGS bonds if the yield rises too high to prevent default), so it's 5% for zero risk to captial, which isn't bad in the current environment - especially if you're a bank that can borrow from central banks at virtually nothing and make the spread risk free.

just more market manipulation and crony capitalism.
The country's economic output has shrunk by a quarter and unemployment remains close to 28%. There are fewer Greeks employed than at any time in the past 33 years.
but "investors" are getting rich so everything must be just fine!
staker72
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Did anyone read an article on the BBC recently about trying to standardise how GDP'd ae calculated across Europe? In the UK Drugs and prostitution is calculated to add 10BN. Admittedly trivial but depending if there are any changes to consideration of the informal economy that is big in some countries those debt ratios could start to look a whole lot different
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superfrank
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so Greece votes in the socialists... 'can't say I blame the people, they've been royally screwed by their 'leaders'. Greece didn't get a bailout; the French and German banks who lent money to the Greek govt got the bailout.

what a coincidence that Draghi is allowed to print 1.1 trillion Euros a few days before the Greek elections to ensure markets remain propped up.
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Naffman
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Greece to exit the Euro is 9/4, is it just me but I think they should be odds on...
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Euler
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We are at a curious stage now in this game.

This is crazy: Nestle is getting paid to borrow money

http://www.washingtonpost.com/blogs/won ... row-money/
andyfuller
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Interesting choice of headline by the writer.

From the comments:

Nestle is not only not getting paid to borrow, it is paying interest on its debt. The $500MM debt that matures October, 2016 is paying interest at a rate of 0.75%.

The market demand for Nestle debt is so strong that the yield (defined as an income return on investment) is now negative. If you want to buy the bond right now, the price is so high that you lose money if you buy it on the open market. Nestle is not issuing new debt at a negative rate of interest.
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superfrank
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Sweden cuts rates below zero and starts QE
http://www.bbc.co.uk/news/business-31436657

not EZ but the race to the bottom continues.

zero rates are a symptom of failure. central banks are pushing on a piece of string with ZIRP and realise that they have to keep increasing the money supply by any means to stop a debt/deflation implosion. it's just the same as what happens when a traditional ponzi scheme starts to run out of mug investors (they have to continually expand or they collapse).
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Euler
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Denmark seems to be the next place under pressure as they try to hold their peg to the Euro, surely doomed.
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Euler
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Line up your bets!

Speculation Against Danish Euro Peg Proving Relentless

http://www.bloomberg.com/news/articles/ ... relentless
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