As regards any idea of a Federal Europe is concerned it's interesting to see
what's happening in Spain which is apparently in danger of fragmentation......"Hundreds of thousands of Catalans took to the streets of Barcelona in an unprecedented show of mass support for autonomy from Madrid,
blaming Spain’s economic crisis for dragging their wealthy region down.The
central government said the crowd was 600,000 strong. Catalan police gave
figures as high as 1.5 million...They held up banners and signs saying “No to the Fourth Reich”, “No to
Europe”, “Independence Now!” and “Catalonia: the New European State”. Catalans complain of paying billions of euros more in taxes than they
receive back from Madrid, even as their regional government has been forced to
fire workers and cut services." In general people don't like the idea of supporting other populations, even
within their own country. Asking nations to do it within a federation simply
won't work. There isn't a banking union, and no chance it will happen. They're talking
about common banking regulation and Germany has said 'Nein' to Draghi's
suggestion.....Reuters - Schäuble said that, despite the current crisis in the Euro
zone, the Euro will ultimately emerge as the common currency of the entire
European Union. He said he “respects” Britain’s decision to keep the pound, but
insisted that the survival and eventual stabilisation of the Euro will convince
non-members to join the currency club. “This may happen more quickly than some
people in the British Isles currently believe,” he added....I say: Yet another example of the EU apparatchiks trying to gain control of the UK's
financial structure by stealth....(and the other non Euro countries) - but the
UK is the big target here. Come on Great Britain! ... cut the head off this serpent and tell the EU to
bugger off ... you'll be doing yourselves a great favor, not to mention the rest
of Europe...Does anyone in their right mind think trade with the UK will stop if they
leave the EU? The vast majority of UK exports come here to the USA, Germany second, then
France. A vast majority of UK imports come from Germany, USA second, then China,
Netherlands, Norway, and France. 50 million quid a day dumped into this black hole the EU, and for what?! Will Germany stop selling to the UK if they drop out of the EU?Hell no! it's a major part of their economy.
3 comments:
Bumper returns this year in the European junk-bond market are luring yield-hungry investors, but analysts warn that the trade isn't for the faint of heart as the euro-zone crisis continues to simmer.
Corporate high-yield debt—perceived to carry greater risk than investment-grade bonds—has returned 18.7% in Europe so far in 2012, according to data provider Markit.
That compares with around 13% this year for debt in the U.S. high-yield market, and 9% in the European investment-grade market, J.P. Morgan data show.
"We think market dynamics right now will allow the European high-yield market to outperform our prior expectations, which were already ...
Spain Sells Debt Amid Pressure
Despite mounting pressure for it to seek an international bailout, the Spanish government proved it can still finance itself on markets, selling slightly more short-term debt than planned.
Stalled Rally Puts Pressure on Spain
The European rally has ended, and now the waiting begins. Behind the stall is a paradox, one that involves an uncomfortable dance between Spain's prime minister, Mariano Rajoy, and ECB President Mario Draghi.
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Europe's Junk-Bond Rally Demands Caution
Bumper returns this year in the European junk-bond market are luring yield-hungry investors, but analysts warn that the trade isn't for the faint of heart as the euro-zone crisis continues to simmer.
Greek Readies Plan for Further Budget Cuts
Greece hopes to wrap up the details of a multibillion-euro package of spending cuts by Sunday as it scrambles to convince visiting inspectors that it deserves another installment of aid.
U.K. Inflation Slows in August
The annual rate of inflation in the U.K. fell in August, official data showed, paving the way for fresh stimulus for the economy from the Bank of England.
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Putin Criticizes Russian Budget Plan
Russian President Vladimir Putin rapped the government over its budget plans for the next three years, accusing ministers of not taking into account decrees he issued when he returned as president in May.
Finland's prime minister, Jyrki Katainen, has questioned whether the European Central Bank's new bond-buying scheme will really help. Nearly two weeks after the ECB announced its Outright Monetary Transactions programme, to much fanfare, Katainen downplayed its significance, telling reporters that It has led to a positive situation, but I'm not fully sure if it will help in the long run....The prospect of OMT has helped ease borrowing costs for peripheral countries. However it can't kick in until a request for help is made... Katainen also argued that countries who are suffering from high yields must "sacrifice faster short-term growth" in favor of fixing their economies, bolstering competitiveness, and restoring confidence.
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