Italy was dragged deeper into Europe's debt crisis on Monday as its borrowing costs soared to their highest level since the euro was created. The yield, or interest rate, on 10-year Italian bonds leapt to 6.66% on Monday, as Silvio Berlusconi's government prepared for a key vote on the country's public finances on Tuesday. Analysts warned that Italian yields were now approaching the "danger area" where a bailout looks a real risk. Stock markets around Europe fell sharply, amid concern that the debt deal hammered out in Brussels less than two weeks ago will not fix the crisis. "The current feeling is that Italy is too large to bail out with the current mechanisms in place, should Greek-like turmoil spread to Italy," warned Peter O'Flanagan of Clear Currency. The FTSE 100 was down 1.6%, at 5,435. Banks bore the brunt of the falls – with Lloyds Banking Group down 4.7%, Barclays down 3.4% and Royal Bank of Scotland down 3.2%.The French CAC and the German DAX also fell, by 2.1% and 1.9% respectively.
Access Investments-Building Awareness - European Union-ROMANIA
Tuesday, November 8, 2011
Italy was dragged deeper into Europe's debt crisis on Monday as its borrowing costs soared to their highest level since the euro was created. The yield, or interest rate, on 10-year Italian bonds leapt to 6.66% on Monday, as Silvio Berlusconi's government prepared for a key vote on the country's public finances on Tuesday. Analysts warned that Italian yields were now approaching the "danger area" where a bailout looks a real risk. Stock markets around Europe fell sharply, amid concern that the debt deal hammered out in Brussels less than two weeks ago will not fix the crisis. "The current feeling is that Italy is too large to bail out with the current mechanisms in place, should Greek-like turmoil spread to Italy," warned Peter O'Flanagan of Clear Currency. The FTSE 100 was down 1.6%, at 5,435. Banks bore the brunt of the falls – with Lloyds Banking Group down 4.7%, Barclays down 3.4% and Royal Bank of Scotland down 3.2%.The French CAC and the German DAX also fell, by 2.1% and 1.9% respectively.
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3 comments:
This is like asking "why do the more welathy not help the poor"?
Answer: A wealthy person would not be so wealthy anymore :)
What a blinding headline. They are wealthy because they managed to exploit a way through trade or other mechanism and so would we all. Right Mr Cameron? Worth more than many in financial terms, not necessarily on many other things
Probably something to do with Meyer Amschel Rothschild. German if I remember, who masterminded the 'modern' financial world. The conspiracy theorists would suggest his offspring et al are behind all of this (and everything else for that matter) . Hard to argue given those that are meant to be making the big decisions seem powerless to do so. Oh, and for some, there is nothing more profitable than a war
The jaw bone of an ass is as dangerous a weapon today as it ever was.
There's an old Hoagy Carmichael song "Talkin' is a woman listening is a man" Maybe today he would rewrite it as "talking is a politician ,listening is noone"
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