Post by leandros nikon on Feb 4, 2010 16:46:39 GMT -5
ONCE MORE,I FEEL SO UNGRY BY THE BEHAVIOR OF SOME PEOPLE IN HERE,NEEDLESS TO SAY MORE...
www.bloomberg.com/apps/news?pid=20601087&sid=atE4bHqlGhA0
Feb. 4 (Bloomberg) -- Portugal and Greece led a surge in the cost of insuring against losses on sovereign debt to a record as concern that nations will struggle to cut budget deficits deepens a “crisis of confidence” in Europe.
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online.wsj.com/article/SB10001424052748704041504575044781038803078.html
The moves followed news that the European Commission had put Greece under more pressure to cut its deficit; that the Portuguese government sold only €300 million ($417 million) of treasury bills at an auction, compared with an indicative offer of €500 million; and that the Spanish government had raised its budget deficit forecasts for 2010 through 2012.
"What bothers people about Europe and about Greece is the fact that these governments globally have been overspending and I think they're worried that Greece is the tip of the iceberg," said Thompson S. Phillips Jr., president of FaithShares.
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www.smh.com.au/business/massive-deficit-in-greece-and-portugal-threatens-banks-20100204-ngbf.html
Massive deficit in Greece and Portugal threatens banks
On Wednesday night the market's attention turned to Portugal. After a poorly received bond auction, Portugal's CDS sovereign spread blew out to a record high of 196 basis points.
Mr Bayley said a default from Greece, Portugal or Ireland would unleash the most severe turmoil since last year's recovery. ''If any of those were to default on their debt or if they were to remove themselves from the European monetary union, that would be a very significant event for financial markets,'' he said.
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www.wsws.org/articles/2003/jun2003/port-j20.shtml
EU expansion worsens Portugal’s economic crisis
In recent weeks, almost daily reports have stated that the economy is in free fall. Figures published by the Bank of Portugal stated that the business confidence index is the lowest recorded since the last major recession in 1993.
For Portugal to maintain its position as a cheap labour platform for Europe, it must take what are already the poorest workers in western Europe and reduce them to living standards below those of workers from the east.
www.bloomberg.com/apps/news?pid=20601087&sid=atE4bHqlGhA0
Feb. 4 (Bloomberg) -- Portugal and Greece led a surge in the cost of insuring against losses on sovereign debt to a record as concern that nations will struggle to cut budget deficits deepens a “crisis of confidence” in Europe.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
online.wsj.com/article/SB10001424052748704041504575044781038803078.html
The moves followed news that the European Commission had put Greece under more pressure to cut its deficit; that the Portuguese government sold only €300 million ($417 million) of treasury bills at an auction, compared with an indicative offer of €500 million; and that the Spanish government had raised its budget deficit forecasts for 2010 through 2012.
"What bothers people about Europe and about Greece is the fact that these governments globally have been overspending and I think they're worried that Greece is the tip of the iceberg," said Thompson S. Phillips Jr., president of FaithShares.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
www.smh.com.au/business/massive-deficit-in-greece-and-portugal-threatens-banks-20100204-ngbf.html
Massive deficit in Greece and Portugal threatens banks
On Wednesday night the market's attention turned to Portugal. After a poorly received bond auction, Portugal's CDS sovereign spread blew out to a record high of 196 basis points.
Mr Bayley said a default from Greece, Portugal or Ireland would unleash the most severe turmoil since last year's recovery. ''If any of those were to default on their debt or if they were to remove themselves from the European monetary union, that would be a very significant event for financial markets,'' he said.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
www.wsws.org/articles/2003/jun2003/port-j20.shtml
EU expansion worsens Portugal’s economic crisis
In recent weeks, almost daily reports have stated that the economy is in free fall. Figures published by the Bank of Portugal stated that the business confidence index is the lowest recorded since the last major recession in 1993.
For Portugal to maintain its position as a cheap labour platform for Europe, it must take what are already the poorest workers in western Europe and reduce them to living standards below those of workers from the east.