Comments on: The Pan-European Sovereign Debt Crisis: If I Were to Short Any Country, What Country Would That Be.. http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/ A digital diary of my global economic outlook combined with a focus on fundamental and forensic analysis Wed, 08 Sep 2010 21:25:06 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Pie_Row http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/cpage/1/#comment-7410 Pie_Row Sat, 13 Feb 2010 19:21:33 +0000 http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/#comment-7410 I've been thinking about how France can stop the rapin growth in there economey that will just lead to problems down the road. Put a tax on the payment of intrest. This will raise the effective intrest above what eveyone else is paying with the effect of slowing down the growth of the economy. Reggie, I'm nobody you are somebody could you ask the people that need to read this to do so? I’ve been thinking about how France can stop the rapin growth in there economey that will just lead to problems down the road. Put a tax on the payment of intrest. This will raise the effective intrest above what eveyone else is paying with the effect of slowing down the growth of the economy. Reggie, I’m nobody you are somebody could you ask the people that need to read this to do so?

]]> By: endermalatesta http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/cpage/1/#comment-7409 endermalatesta Fri, 12 Feb 2010 19:22:08 +0000 http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/#comment-7409 I'm sorry to say that in Spain nobody knows what a CDS is. People have not even heard about cedulas hipotecarias, and how it affects the big Spanish banks. We are doom. I’m sorry to say that in Spain nobody knows what a CDS is. People have not even heard about cedulas hipotecarias, and how it affects the big Spanish banks. We are doom.

]]> By: monday1929 http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/cpage/1/#comment-7408 monday1929 Fri, 12 Feb 2010 15:53:57 +0000 http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/#comment-7408 I, Too, would like to pledge my support for Greece. There, I did so. Now stop worrying. I, Too, would like to pledge my support for Greece. There, I did so. Now stop worrying.

]]> By: Reggie Middleton http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/cpage/1/#comment-7407 Reggie Middleton Fri, 12 Feb 2010 15:44:49 +0000 http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/#comment-7407 Spanish unions are already pushing back against the "austerity" plans. Greece won't be the only country with issues: http://finance.yahoo.com/news/Spanish-unions-protest-apf-1015979859.html?x=0&.v=2 MADRID (AP) -- Spanish unions called Friday for demonstrations against a plan to raise the retirement age, the first hint of labor unrest since the government unveiled austerity measures to trim a ballooning deficit and restore credibility on markets rattled by the Greek debt crisis. Nationwide rallies have been convened over a two-week period, starting February 23 in about 10 cities including Madrid, Barcelona and Valencia, General Workers Union leader Candido Mendez said at a news conference. Besides the proposal to gradually up the retirement age from 65 to 67, unions are angry with a government plan to change pension formulas. In most cases that would mean a smaller pension in a country where the average one is about euro800 ($1,100) a month. Late last month the government said it would cut spending by nearly $50 billion ($70 billion) over four years to rein in a deficit that has swelled to an outsized 11.4 percent of gross domestic product as the country struggles with recession and 19 percent unemployment. The government's goal is to trim the deficit to the EU limit of 3 percent of GDP in 2013. It also announced the plan to raise the retirement age to protect a social security pension fund which is separate from the budget and currently in surplus but faces troubles ahead due to a steadily graying population and longer life expectancies. Ignacio Fernandez Toxo, another labor leader, said Friday the government is wrong to associate the two pots of money. "Our social security system is perhaps the most solvent institution in the country," he said, insisting the government is triggering alarm unnecessarily. "This is reckless at the very least," Fernandez Toxo said. Spanish unions are already pushing back against the “austerity” plans. Greece won’t be the only country with issues:
http://finance.yahoo.com/news/Spanish-unions-protest-apf-1015979859.html?x=0&.v=2
MADRID (AP) — Spanish unions called Friday for demonstrations against a plan to raise the retirement age, the first hint of labor unrest since the government unveiled austerity measures to trim a ballooning deficit and restore credibility on markets rattled by the Greek debt crisis.

Nationwide rallies have been convened over a two-week period, starting February 23 in about 10 cities including Madrid, Barcelona and Valencia, General Workers Union leader Candido Mendez said at a news conference.

Besides the proposal to gradually up the retirement age from 65 to 67, unions are angry with a government plan to change pension formulas. In most cases that would mean a smaller pension in a country where the average one is about euro800 ($1,100) a month.

Late last month the government said it would cut spending by nearly $50 billion ($70 billion) over four years to rein in a deficit that has swelled to an outsized 11.4 percent of gross domestic product as the country struggles with recession and 19 percent unemployment.

The government’s goal is to trim the deficit to the EU limit of 3 percent of GDP in 2013.

It also announced the plan to raise the retirement age to protect a social security pension fund which is separate from the budget and currently in surplus but faces troubles ahead due to a steadily graying population and longer life expectancies.

Ignacio Fernandez Toxo, another labor leader, said Friday the government is wrong to associate the two pots of money.

“Our social security system is perhaps the most solvent institution in the country,” he said, insisting the government is triggering alarm unnecessarily.

“This is reckless at the very least,” Fernandez Toxo said.

]]> By: Reggie Middleton http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/cpage/1/#comment-7406 Reggie Middleton Fri, 12 Feb 2010 12:36:26 +0000 http://boombustblog.com/reggie-middleton/2010/02/09/the-pan-european-sovereign-debt-crisis-if-i-were-to-short-any-country-what-country-would-that-be/#comment-7406 [url=http://www.cnbc.com/id/35344421]Greek Recession Deepens, Putting Debt Plan at Risk[/url] [quote]Greece's economy contracted more sharply than expected, by 0.8 percent in the fourth quarter, and official data on Friday showed downward revisions for the previous three quarters too, spelling a deepening recession. Aris Messinis | AFP | Getty Images The fourth quarter contraction was far deeper than the 0.5 percent forecast in a Reuters survey and followed a revised fall of 0.5 percent in the previous quarter. The NSS statistics agency originally put the third quarter fall at 0.4 percent. The economy shrank 2.6 percent on a year-on-year basis following a revised fall of 2.5 percent in the last quarter of 2009, which had first been put at 1.7 percent. Economists said the data suggested Greece's economy shrank by around 2 percent over last year as a whole, spelling problems for a government plan to cut its spiralling deficit and exit a debt crisis. "The Greek governement's (growth) forecast is far too optimistic," said Ben May of Capital Economics. "This is going to be another factor making the fiscal adjustment Greece is trying to achieve very difficult. "The chances are if they do achieve that it's going to lead to a pretty nasty recession," he added.[/quote] [url=http://www.cnbc.com/id/35344421]Greek Recession Deepens, Putting Debt Plan at Risk[/url]

[quote]Greece’s economy contracted more sharply than expected, by 0.8 percent in the fourth quarter, and official data on Friday showed downward revisions for the previous three quarters too, spelling a deepening recession.

Aris Messinis | AFP | Getty Images
The fourth quarter contraction was far deeper than the 0.5 percent forecast in a Reuters survey and followed a revised fall of 0.5 percent in the previous quarter. The NSS statistics agency originally put the third quarter fall at 0.4 percent.

The economy shrank 2.6 percent on a year-on-year basis following a revised fall of 2.5 percent in the last quarter of 2009, which had first been put at 1.7 percent.

Economists said the data suggested Greece’s economy shrank by around 2 percent over last year as a whole, spelling problems for a government plan to cut its spiralling deficit and exit a debt crisis.

“The Greek governement’s (growth) forecast is far too optimistic,” said Ben May of Capital Economics. “This is going to be another factor making the fiscal adjustment Greece is trying to achieve very difficult.

“The chances are if they do achieve that it’s going to lead to a pretty nasty recession,” he added.[/quote]

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