BBC News: Reports that the cost for the Italian Government to sell its six months bonds has gone down from 6.504% to 3.251%. This shows that that the austerity package of new Italian PM Mario Monti is working, also the European Central Bank is throwing money in essence at the banks, loans over a three year period. As the article notes the banks are securing their own risks but leaving them enough Capital to buy Sovereign bonds, this is the idea of the French Government, its seems a French plan is working. But then we have Spain, it is rumoured that there will be tough news out of Spain in the new year, the Italian bond news is good news folks, but lets not buy the Euro yet, its going to be a tough year folks.
Wednesday, December 28, 2011
Italy and the Eurozone Crisis
BBC News: Reports that the cost for the Italian Government to sell its six months bonds has gone down from 6.504% to 3.251%. This shows that that the austerity package of new Italian PM Mario Monti is working, also the European Central Bank is throwing money in essence at the banks, loans over a three year period. As the article notes the banks are securing their own risks but leaving them enough Capital to buy Sovereign bonds, this is the idea of the French Government, its seems a French plan is working. But then we have Spain, it is rumoured that there will be tough news out of Spain in the new year, the Italian bond news is good news folks, but lets not buy the Euro yet, its going to be a tough year folks.
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