You didn’t think we could have a market panic without the european banks having a go at your emotions, did you? Out of nowhere, the PIGS are back on the charcuterie table- with Portuguese/German bonds spreads widening, Italian, Greek banks plummeted. And, of course, the ECB is interested in making matters infinitely more complicated by throwing a bunch of red tape around the issue.
An ECB spokesman said on Sunday a number of banks would be asked about high levels of non-performing loans. The burden of such loans, particularly in Greece, Portugal, Spain and Italy, is curbing the euro zone’s economic recovery by limiting banks’ ability to lend.
“The uncertainty in the market, be it in Europe or wherever else, is causing these banks to suffer,” Mark Foulds, sales trader at ETX Capital, said, adding that the sector was also under pressure from recent volatility linked to China.
“When the markets fall like they have done, everyone feels on edge. The market is dire, and there’s not the liquidity that there used to be, which can mean the market gets oversold.”
Truth be told, I have a headache and don’t have the patience to dive into this right now. Let’s just assume everything is horrible in Europe and the Nazis will make life exceedingly difficult for the PIGS (Portugal, Italy, Greece, Spain). I am certain this new crisis will escalate on a cartoonish scale until the irresponsible half-men in europe decide to end it by bailing everyone out again.
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i’m sure this contagion, combined with the insidious forces of oil’s collapse and global currency/liquidity issues will spread and inevitably have satanic and demonic implications for us
UK is debating banning Trump from the country. Lol.
This is why I laugh when people say that a China Slow Down will not effect the USA because we have such a small amount of trading with them. Also, why I laugh when people say that the BDI shouldn’t be watched and doesn’t effect Greece. BUT I know how the Bulls will beat us Sweet Bears once more, ECB is meeting on Thursday and even though Draghi said the members won’t change their votes last week, it will be different, Draghi will get his votes and rally time at the end of the week……and that Bubble just gets uglier.
Could finally cause short term capitulation and the seeds on Thursday or Friday rally if Draghi announces more stimulus.
“Let’s just assume everything is horrible in Europe and the Nazis will make life exceedingly difficult…” The term “Nazi” wasn’t funny before and it’s still not funny now, even less, “edgy”. It’s uncouth and too easy for a man of your talents. Apply yourself more.
I see your point there. That kind of humor is less funny in a time like this, when presidential candidate Trump is saying things that sound like that about ethnic and religious groups, but he is not kidding at all. He seriously means it.
The scapegoat method of political campaigning is horrendous. It’s done by politicians who have no solutions to problems, so they just say “The problem is all that bad group’s fault.” Of course we should not have our borders open to everyone. Bernie says that too. That’s not the issue. It’s scapegoating of particular groups.
I’m not surprised that the UK might ban Trump from their country. These are people who were bombed by the actual Nazis, so they have good reason to be concerned about Trump’s statements against various ethnic and religious groups.
Oh buzz off. It’s never German night here on iBC, ever.
Europeans either need to get their act together or else go bankrupt once and for all. A “crisis” is supposed to be a temporary situation, not a way of life. Crises are supposed to end at some point in time.