Breaking news out of Italy tonight : Mario Monti has announced that he will present the results of his lengthy negotiations over the make-up of his government to the country's president tomorrow morning. The meeting with president Giorgio Napolitano is scheduled for 10am GMT. Italian media are reporting that this means Monti has reached an agreement and will officially succeed Silvio Berlusconi as prime minister. But it probably pays to be cautious....This development follows another day of meetings with Italy's various political parties At a press briefing, Monti also said he was confident about the country's reaction to the crisis. European bond markets are now closed for the day, so I've been looking at how bond yields have risen compared with mid-October, and mid-August.Italian 10-year yields closed at 7.134%, up from 5.8% on 14 October and 5.03% on 15 August.
Spanish 10-year yields closed at 6.36%, up from 5.25% on 14 October and 5.014% on 15 August
Belgian 10-year yields closed at 4.91%, up from 4.41% on 14 October and 4.05% on 15 August
French 10-year yields closed at 3.69%, up from 3.14% on 14 October and 2.96% on 15 August
Austrian 10-year yields closed at 3.62%, up from 3.09% on 14 October and 2.833% on 15 August
Netherland 10-year yields closed at 2.41%, down from 2.62% on 14 October and 2.67% on 15 August
4 comments:
Funny how DT has taken "advice" from Hollywood: The pictures of EU leaders are negative and the text is written in an insulting and mocking style.
Then take an example of Lord Wolfson: Oh, how amicable and how clever and how handsome... It is exactly like Hollywood.
In Hollywood the tribe of manipulators does exactly the same. Jews play the amicable, the considerate, the funny (but in an intelligent way). Then the natives... Yes, well, they use less amicable methods of communication: Look at "Winter's bone ". There You have it.
Same is now in DT. Same people, same style.
Maybe Merkel is happy to hand her country over, but I wonder what the German people think about that? Perhaps she thinks Germany is hers to do with as she wishes just like Clegg and his poodle Cameron and the UK.
Would they be given a referendum? I think not.
This whole EU nonsense just gets worse and worse.
Welcome to the hotel Euro-zone
Such a money drain
Yields such a bloody pain
But there’s plenty of room at the hotel Euro-zone
Any time of year, you can find us here
Last thing I remember, I was
Running for the door
I had to find the passage back
To the currency I had before
’relax,’ said the Commission man,
We are programmed to receive.
You can checkout any time you like,
But you can never leave!
He (or she) who pays the piper calls the tune.
Ireland, Portugal, Spain, Greece and Italy could all have told Merkel to bugger off and defaulted on all their debt, forcing Merkel to bail out her own banks (and probably France's too).
Instead they went for a freezing cold austerity shower in Reichskanzlerin Merkel's Temple of Germanic Financial Orthodoxy and now find themselves locked in a Teutonic death-grip with German financial "experts" flown in to occupy their treasuries.
No way out now, game over suckers. Enjoy all future decisions in Europe being made for the benefit of das Vaterland.
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