Something to bear in mind whilst reading the next Euro area debt and bailout story is just how much money the PIIGS (Portugal, Ireland, Italy, Greece and Spain) need to meet their funding requirements for the next 4 years.
Taking current debt rollovers and government deficits into account the total required just to stay […]
Via ZeroHedge, an excellent read in the form of Willem Buiter’s Global Economic Review. Doomsday scenario would be one way to describe it but it is a truly comprehensive ‘must read’ document for anyone even remotely interested in global economics. Snippets from Zero Hedge’s highlights :
Unless the US, the UK, France, Japan (currently […]
Two lists of why the UK may or may not be likely to go the way of Greece.
Firstly, FT Alphaville reporting on comments by RBS FX strategist Paul Robson on why the Pound should be gaining from Euro weakness and why the UK won’t be going the way of Greece :
1.) – […]
Apparently The Waspsnest is rather naughty and may offend fragile minds according to this site which gives film style ratings for the URL entered.
This rating was determined based on the presence of the following words:
pissed (4x) shit (3x) fucking (2x) dead (1x)
I was actually rather surprised with that count of naughty […]
Spotted at Dick Puddlecote’s place, the following quote amused me and is as relevant today as it was back in 1976 when the Iron Lady was being interviewed by Thames TV (emphasis mine) :
I would much prefer to bring them down as soon as possible. I think they’ve made the biggest financial mess […]
With electioneering in full swing in the UK the following quote of Pericles’ famous funeral oration as reported by Thucydides from Karl Popper’s book The Open Society and its Enemies seemed quite apt :
Our political system does not compete with with institutions which are elsewhere in force. We do not copy our neighbors, […]
Whilst reading an article at FT Alphaville about todays downgrading of Greek debt by Standard and Poor’s, the small table in the post showing European Bank’s exposure to Greek debt caught my eye :
You will notice that the total exposure has reduced from $272.4 billion to $193.1 billion mainly driven by Switzerland sensibly […]
FT Alphaville has a note from Bob Janjuah of RBS which neatly sums up everything our leaders have been telling us is needed to avoid monetary armageddon whilst giving his view on what they are actually doing and where it will end ..
The Greece bail-out, the goings on at the IMF involving the […]
Over at Pravda (the Russian one not the BBC), an extremely interesting article by Dr. Peter Baofu on the potential implications of the strategic arms reduction treaty signed in Prague on April 8th :
Contrary to the conventional spinning in mainstream mass media, the recent signing of the strategic arms reduction treaty between the […]
Zero Hedge has an interesting rumour on why the Greek government is trying to move quickly to an IMF led bailout :
Supposedly written by someone in the upper ranks of the Greek government, who will reveal himself when he resigns over this matter in the coming week.
He alleges G-Pap is rushing to […]
For a few minutes amusement, you could do worse than head to Listvers for a browse through some (supposedly) genuine GCSE answers. As a taster :
1. Ancient Egypt was inhabited by mummies and they all wrote in hydraulics.They lived in the Sarah Dessert and traveled by Camelot. The climate of the Sarah is […]
At least he did according to this article apparently attributed to a joke from Polands Foreign Minister :
A political scandal is gathering pace in Poland. Officials of the Polish administration are accused of releasing racist statements against US President-elect Barack Obama. Poland’s large opposition party Right and Justice said that the remarks had […]
From Pravda (the Russian one not the BBC) we have an insight into both Russia’s view of the world as well as some blatant re-writing of history which even The Labour party would be proud of :
NATO´s meeting this Thursday in the Estonian capital city, Tallinn, was a group hug among the twenty-eight […]
Whilst most people stick to a few paper clips and post-it notes from the stationery cupboard, from The Moscow Times comes this rather more inventive use of work facilities by a pathologist who recruited colleagues to cover up mobland killings :
Leader of Morgue Gang Convicted of Murder
A former St. Petersburg pathologist was […]
Following on from the series of events highlighted in my post yesterday likening Greece to a cheap jelly, today’s news of Greece asking for activation of the EU/IMF bailout wasn’t really too surprising although they seem to have caught the EU Commission on the hop with the timing (via FT Alphaville) :
In the […]