Eurozone debt crisis

[Iron]

That makes sense.

Out of interest, are Brazilian Portugese and 'Portugese Portugese' very similar?

Jeff

I have some friends that went to Africa, but most of them are going to Brazil

[CaerMyrddin]

Well, they are somewhat like british english and US or australian english, but not so similar, although I must say brazilian portuguese is easier to talk. A bit like the american english. Personally I find it easier to fully understand an american or australian rather then a british gent.

I lived in Brazil as a child and I'm looking forward to go there next year for a whole month.

And you can say european portugUese, mate

[Iron]

Europe in €2 trillion rescue bid - http://www.telegraph.co.uk/finance/fina ... qus_thread

'Under the terms of its membership, the UK will be liable for 4.2pc of any funds provided by the IMF. The IMF has $390bn available'.

Nice one...

Jeff

[Iron]

From the way the markets have been drifting in recent days, you'd think we were on the brink of a solution to the Eurozone crisis.

Instead, there seems to be meeting followed by meeting, and probably meetings about meetings!

I mean, it's not like there's any hurry. We've got another couple of weeks before Greece runs out of money...

It gives the impression that those in charge couldn't organise a p***-up in a brewery!

I wonder if the markets are seeing what they want to see...

Jeff

[superfrank]

they are just taking the absence of any new news as an opportunity to push a move upwards.

the big players trade on news and sentiment with technicals and fundamentals well down the list.

[Iron]

I was reading this manual: viewtopic.php?f=35&t=4867

It seems that, as with Betfair, a heck of a lot of the volume in the financial markets comes from guys & bots who don't use charts, but just use the volumes matched and offered info on the ladder.

Jeff

the big players trade on news and sentiment with technicals and fundamentals well down the list.

[Iron]

George Osborne: Eurozone crisis threatens all Europe - http://www.bbc.co.uk/news/business-15414168

Such an insightful observation...

Jeff

[Iron]

Nicolas Sarkozy tells David Cameron: shut up over the euro - http://www.guardian.co.uk/politics/2011 ... sfeed=true

[CaerMyrddin]

Well, if Britain is willing to allow the 17 eurozone countries help to solve the problems with the pound, I'm ok with Cameron helpig solve the eurozone crisis

Seriouly now, I think all the european coutries should be tightly united now. Can't anyone see there's no profit from atacking each other?

[superfrank]

and the solution is...

a leveraged bailout fund!!

as ever just buying time and sowing the seeds of an even greater bust.

[Iron]

Part of the thinking behind the EU is that it's supposed to prevent another world war.

World War II was partly caused by Germany having to make massive repayments to its European neighbours.

Austerity measures could create a political climate in which extremists promising an end to austerity can come to power.

And if Germany and France mortgage themselves to the hilt to bail out countries who later cannot or will not continue to make repayments, then what happens next is anyone's guess...

Jeff

and the solution is...

a leveraged bailout fund!!

as ever just buying time and sowing the seeds of an even greater bust.

[Iron]

Interesting article re. Europe & Britain's role in it - http://www.steynonline.com/4576/lethal- ... xs.twitter

Jeff

[superfrank]

What's the matter with Italy?
http://www.bbc.co.uk/news/business-15429057

Interesting article this... it seems the Italian government is NOT profligate (unlike most others incl. the UK) - their main problem is that they can't compete from within the Euro.

Unlike their counterparts in Spain or the Irish Republic, ordinary Italians have not run up huge mortgages, and generally have very little debt.

That means that according to the Bank of International Settlements Italy as a country - not just a government - is not actually terribly indebted compared with other big economies such as France, Canada or the UK.

Moreover, the large debts of the Italian government are nothing new. It has got by just fine with a debt ratio over 100% of its GDP ever since 1991.

The main reason is because - unlike Greece - Italy is actually quite financially prudent.

The government spends less on providing public services and benefits to its people than it earns in taxes, and has been doing so every year since 1992, except for the recession year of 2009.

Indeed, the only reason Italy continues to borrow at all is to meet the principal and interest payments on its existing debts.

[Iron]

Italy sells bonds at record high of 6% at auction - http://www.bbc.co.uk/news/business-15490890

So much for the markets being reassured...

Jeff

[superfrank]

Don't worry, the ECB will be buying them with printed money soon. Everything will be Ok.