Power of Story
Send a Tweet        
- Advertisement -

Share on Google Plus Share on Twitter 1 Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (3 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   1 comment
OpEdNews Op Eds

Spreading Eurozone Contagion

By       Message Stephen Lendman     Permalink
      (Page 1 of 7 pages)
Related Topic(s): ; ; ; , Add Tags Add to My Group(s)

Must Read 1   News 1   Supported 1  
View Ratings | Rate It

opednews.com

Author 194
Become a Fan
  (191 fans)
- Advertisement -

Spreading Eurozone Contagion - by Stephen Lendman

Cratering Eurozone economies.

- Advertisement -

The operative word is contagion. It's malignant and spreading because it's unresolved and irresponsibly addressed. 

Germany, Europe's strongest economy, just had its worst ever bond auction since 1999. Over a third of 10-year bunds offered were unsold. More on the failure below.

- Advertisement -

Comparable Italian yields jumped to 7.3%. Italy's two-year bond hit 7.7%. The inverted curve signals tougher times ahead. Italy also sold six-month bills at 6.50%, its highest rate in 14 years.

Troubled Spain had to pay 5.11% for three-month money, the highest short-term rate since formation of Europe's Economic and Monetary Union (EMU) in 1999.

Other Eurozone rates also rose, including Portugal's after Fitch downgraded its debt to junk and retained a negative outlook. Hungary was downgraded to junk as well with a negative outlook. Yields there jumped close to 10%. Belgium's in trouble. So are France and Britain. Credit default swaps on European sovereign debt and banks reached all-time highs. 

- Advertisement -

Earlier in the week French bonds were hammered. Europe's debt crisis moved from periphery countries to core ones. Many believe the Eurozone can't survive, except perhaps with fewer stronger members.

Next Page  1  |  2  |  3  |  4  |  5  |  6  |  7

 

- Advertisement -

Must Read 1   News 1   Supported 1  
View Ratings | Rate It

I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon



Go To Commenting
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Related Topic(s): ; ; ; , Add Tags
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert