Business Magazine

Fixed Markets Friday – Greece All Better – Next!

Posted on the 09 March 2012 by Phil's Stock World @philstockworld

Again.  Well, for now.  Despite the "voluntary" participation of 85% of the debt-holders, collective action clauses (CAC) will be triggered to force other bondholders and a similar action in Argentina led to 10 years of lawsuits – so we have that to look forward to.  "The rule of law has been treated with contempt," said Marc Ostwald from Monument Securities. "This will lead to litigation for the next ten years. It has become a massive impediment for long-term investors, and people will now be very wary about Spain and Portugal." 

“Even if we band aid this Greek situation right now, they’re going to default down the road or write down 100 percent of the debt,” said Scott Wren, senior equity strategist at Wells Fargo Advisors. 

Now the European Commission has sent a team of experts to Spain to check its budget deficit data, according to Spanish website Expansion and they will be greeted by a National Strike, scheduled for March 29th, to protest the austerity measures the EU is trying to enforce.  Greek bonds are already passing the 20% mark again so this "fix" has lasted all of a few hours and already we're seeing rates creep up in Italy, Spain and Portugal (Ireland can't even borrow money – at any price) and part of the reason is they just blatantly screwed over the last batch of bondholders and Credit Default Swaps have now been revealed as completely useless tools to protect bond investments – and part of the reason is Uncle Sam needs to borrow a record $225Bn to pay the bills for February alone:

Fixed Markets Friday – Greece All Better – Next!

 

  

IN PROGRESS

 



You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Ralph's Top 10 Blogged Band Chart - as Played on Radio KC - 28.5.17

    Ralph's Blogged Band Chart Played Radio 28.5.17

    Click here for the Ralph's Life websiteTracks from the Top Ten Blogged Bands are played every Sunday 5-7pm on Radio KC as part of Ralph's Indie Show.LISTEN TO... Read more

    The 27 May 2017 by   Mike Lindley
    ENTERTAINMENT, MUSIC
  • Top 3 Ways to Improve Your Health

    Ways Improve Your Health

    I recently listened to an American comedian, who in a sketch was advising a man whose girlfriend had just left him to let her go. "She's not worth it" she told... Read more

    The 27 May 2017 by   Dietdoctor
    DIET & WEIGHT, HEALTH, HEALTHY LIVING, MEDICINE
  • Maria’s Pancakes

    Maria’s Pancakes

    Meal plansGet lots of weekly low-carb meal plans, complete with shopping lists and everything, with our premium meal planner tool (free trial).... Read more

    The 27 May 2017 by   Dietdoctor
    DIET & WEIGHT, HEALTH, HEALTHY LIVING, MEDICINE
  • Cavendish Beach Music Festival 2017 Preview: Zac Brown Band Top 10

    Cavendish Beach Music Festival 2017 Preview: Brown Band

    If you love country music, and you love festivals, and you love to party... then Sunday night at the Cavendish Beach Music Festival is def. going to be your... Read more

    The 27 May 2017 by   Phjoshua
    LIFESTYLE, SELF EXPRESSION
  • My Envy Box May 2017 Unboxing

    Envy 2017 Unboxing

    Hello everyone, what’s up? How are you surviving this heat? I fell sick so many times while I was out in the daytime. Please drink lots of fluid and stay... Read more

    The 27 May 2017 by   Jhilmil D Saha
    HAIR & BEAUTY
  • Holiday Beauty Prep • Made Easy

    Holiday Beauty Prep Made Easy

    We are fast approaching the summer holidays where the only stress of our day should be deciding what cocktail to order. Hot sunshine, white sands, crystal... Read more

    The 27 May 2017 by   Kellilash
    HAIR & BEAUTY, LIFESTYLE
  • Softening the Edges

    Softening Edges

    This post will probably be of interest to anyone who is growing trailing plants, such as tomatoes, courgettes and squashes, in containers. Read more

    The 27 May 2017 by   Mwillis
    GARDENING, HOME

Paperblog Hot Topics

Magazines