Ranskan pankeilla saatavia Kreikasta 65 miljardia dollaria, USA:n pankeilla myös paljon --41 miljardia.
Irlanti vetoaa nyt EU:n yhdenmukaisuuteen kohtelussa jäsenmaiden välillä ja vaatii sekin samanlaista järjestelyä kuin nyt tehdään Kreikan suhteen, eli uutta lainaa ja vanhoille lainoille lisää maksuaikaa/uusitaan.
Well that didn't take long. Just a day after it was reported that Greece will benefit from a debt restructuring that will require current bond-holders to take a financial hit, Ireland's finance ministry is demanding a similar restructuring for its bonds.
Of course, this is what happens when you open the door to restructuring. In a union, all rules must apply equally. You just can't give preferential treatment to one country and not expect others to demand the same treatment. The European Central Bank should have known this. And its failure to see this one coming is making the situation even more unstable.
The ECB needs to get this situation under control quickly. And that's probably going to mean caving in to restructuring demands from Ireland, and any other EU country that's overwhelmed by debt.
The impact in U.S. banks is not insignificant. U.S. bank exposure to Greek debt is said to be $41 billion, and mostly in the form of credit-default swaps. (Bank of America (NYSE:BAC) was kind enough to detail its $441 million exposure.)
But France alone has the most exposure, at $65 billion.
*****The stock market appears to be pricing in not only Greek restructuring, but Ireland and Spain as well. And that has implications for the U.S. dollar. China, for instance, has been a willing buyer of European bonds as it diversifies its assets. That has helped support the euro against the U.S. dollar.
But if the EU screws up and China ends its support, the euro will crumble and the dollar will rally.
Irlanti vetoaa nyt EU:n yhdenmukaisuuteen kohtelussa jäsenmaiden välillä ja vaatii sekin samanlaista järjestelyä kuin nyt tehdään Kreikan suhteen, eli uutta lainaa ja vanhoille lainoille lisää maksuaikaa/uusitaan.
Well that didn't take long. Just a day after it was reported that Greece will benefit from a debt restructuring that will require current bond-holders to take a financial hit, Ireland's finance ministry is demanding a similar restructuring for its bonds.
Of course, this is what happens when you open the door to restructuring. In a union, all rules must apply equally. You just can't give preferential treatment to one country and not expect others to demand the same treatment. The European Central Bank should have known this. And its failure to see this one coming is making the situation even more unstable.
The ECB needs to get this situation under control quickly. And that's probably going to mean caving in to restructuring demands from Ireland, and any other EU country that's overwhelmed by debt.
The impact in U.S. banks is not insignificant. U.S. bank exposure to Greek debt is said to be $41 billion, and mostly in the form of credit-default swaps. (Bank of America (NYSE:BAC) was kind enough to detail its $441 million exposure.)
But France alone has the most exposure, at $65 billion.
*****The stock market appears to be pricing in not only Greek restructuring, but Ireland and Spain as well. And that has implications for the U.S. dollar. China, for instance, has been a willing buyer of European bonds as it diversifies its assets. That has helped support the euro against the U.S. dollar.
But if the EU screws up and China ends its support, the euro will crumble and the dollar will rally.
Vastaukset 10
Vanhimmat
Nicolas Sarkozy ja Angela Merkel ovat Kokoomus puolueesta oman maan poliitiikassa...
PS: ehkä se selittää samanlinjan kuin Jyrki Katainen vetää..
Angela Merkel sanoi Jyrki Kataisen kutsuun Suomen vierailusta että haluaa tulla katsomaan puolueensa CCP kavereita.
CDU
on finanssinerona selitellyt taas että miten fantastista se on kun otetaan lainaa ja lainataan se kovemmalla korolla maksukyvyttömille? Ai niin eihän se puhunut maksukyvyttömistä vaan fantastisesta.
"But if the EU screws up and China ends its support, the euro will crumble and the dollar will rally."
USD kurssi=1,4270
Suosittelen kaikkia vähänkin enemmän säästöjä omaavia tahoja vaihtamaan euronsa dollareihin...
Valuuttatileiltä ei saa korkoa, mutta korko tulee sitten ajan kanssa dollarit euroiksi vaihtamalla.
EUR /USD tällä hetkellä 1.4330
Viellä on matkaa 1.5000:een, mutta en usko, että sinne asti enää kuitenkaan lasketaan.
Euroopan keskuspankki ostanut tänään euroa miljardeilla ja sen takia euro on tänään noussut . Merkel ja Sarkozy antaneet käskyn!
Lesson: Don’t mess with the ECB
Written by Jamie Coleman
June 17, 2011 at 14:24 GMT
The euro is being supported today by the German climbdown on bondholders shouldering a substantial share of the burden of bailing out Greece. The ECB has once again carried the day.
This is a Pyrrhic victory though, to be sure. It merely avoids an immediate default while building pressure for (by adding even more debt on to the Greek balance sheet) for a more catastrophic default going forward.
To recycle a phrase, they’ve just kicked the can don the road…
The risk of near-term default is not entirely past: PM Papandreou still needs to survive a confidence motion on Sunday.
Nyt Merkel ja Sarkozy voivat nyt sanoa, että heidän toimintansa (Kreikalle annetaan lisälainaa/vanhat lainat uusitaan) vakautti markkinat ja luottamus euroon palasi.
Markkinat olivat tällä kertaa kuitenkin heidän oma pankkinsa: EKP ,joka osti euroa niin suurella rahamäärällä, että myyjät (myivät pois euroa) eivät pärjänneet.
Kissa siis nosti itse häntänsä.
Nicolas Sarkozy center-right UMP party
Angela Merkel Christian Democratic Union CDU party