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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
I find it very sad that Greece is now having to sell hard assets. 3 historic ports already on the market.
UK PRESS: Talk about Greece reneging on debt commitments "has been very
damaging" and suggests "that investing in the euro area is unsafe,"
European Central Bank executive board Lorenzo Bini Smaghi says in an
interview with the Financial Times. Even for a country that flouted
eurozone fiscal rules for a decade, "a debt restructuring, or exiting
the euro, would be like the death penalty which we have abolished in
the European Union," he says in the report. Across the eurozone and
beyond "the destabilizing effect could be dramatic," he added. "Poor
developing countries have no assets, their income is low, and so they
become insolvent easily. If you look at the balance sheet of Greece, it
is not insolvent."
Ashraf
But JPY rather strong. Could be China continues to buy Jap bonds.