Tag Archives: sovereign debt

Three Week Euro Scenario

By Andrew Busch | Published: April 27, 2010

There are two known dates and one unknown date that will cause volatility and uncertainty surrounding the Euro. All three will likely occur in the next three weeks.

May 9th is the election date in the most populous German state Rhine-Westphalia. This mandates that German PM Merkel drag her feet on a bailout of Greece. A bailout is very unpopular and Merkel will lose important seats in the Bundestag if she strongly supports the bailout.

May 16th is the date when E8.5 billion of Greek debt needs to be rolled over. With Greek 2yr notes yielding 14.5%, Greece can’t afford … …READ MORE

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US Crisis Lesson For Europe

By Andrew Busch | Published: February 4, 2010

As expected, the Bank of England left rates unchanged at 0.5% and the European Central Bank left rates unchanged at 1.0%. The BOE also signaled that they would not be expanding their QE program, but left open the option to buy more down the road should conditions change. We’re awaiting ECB’s Trichet to comment on Greece and the rest of the PIIGS to see if more will be done to assist them. Two of Greece’s largest unions are setting strike dates for February 10th and February 24th to protest the austerity proposals proposed by the government.

Of course, Greece is … …READ MORE

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