WE POST IT AGAIN.
IT IS MUST SEE TV WHICH DEMANDS TO GO VIRAL:
WE WISH NIGEL FARAGE A SPEEDY AND COMPLETE RECOVERY. (PICTURES OF HIS AIRPLANE CRASH HERE.)
AND WE WISH EUROPE WOULD LISTEN TO FARAGE: IF IT DID, THEN EUROPE WOULD HAVE A SPEEDY AND COMPETE RECOVERY, TOO.
AS IT STANDS NOW, THE EURO-ZONE IS HEADED FOR THE CRASH AND THE MELTDOWN FARAGE PREDICTED.
- ONLY A QUICK ANNOUNCEMENT OF A TORY-LED GOVERNMENT IN BRIITAIN, AND AUSTERITY BUDGETS WITH TAX CUTS ALL ACROSS THE EURO-ZONE CAN HEAD-OFF THE IMPENDING EURO-CRASH...
- THIS WILL MEAN EVERY GOVERNMENT IN EUROPE MUST DO WHAT THEY'VE JUST FORCED GREECE TO DO.
DOES EUROPE HAVE POLITICIANS WITH THE COURAGE TO DO THE RIGHT THING?
WE SHALL SOON FIND OUT.
STAY TUNED...
UPDATE: NYTIMES:
While direct exposure to Greece appears to be limited for most banks, their vulnerability to larger European countries with debt problems is much greater.
French and German banks, for example, have $1.16 trillion at risk in Spain and Italy, including government and private debt, according to data from the Bank for International Settlements in Basel, Switzerland. The sum dwarfs the $120 billion exposure in Greece.
on Thursday put its exposure to Greece at 5 billion euros ($6.37 billion), the most of any major French bank. But in a radio interview, the chief executive, Baudouin Prot, declined to reveal the bank’s exposure to any other euro zone countries.
“The fear ripples out from bank to bank,” said Carl Weinberg, chief economist at High Frequency Economics in Valhalla, N.Y. “No one knows the distribution of the assets at risk.”
The lack of clarity about which European banks are most at risk in debt-ridden countries has prompted banks to avoid making short-term loans to one another, threatening a repeat of the tight credit markets that followed the collapse of in September 2008.
Overnight interbank lending rates soared Friday, though rates were still well below Lehman levels. And the cost of insuring debt issued by European banks approached that seen at the height of the financial crisis.
WILL 5/10/10 BE BLACK MONDAY?
YES: IF BRITAIN AND THE EU DON'T GET IT RIGHT...
STAY TUNED...
UPDATE #2 - SATURDAY 5/8/10:
JUST LIKE FARAGE SAID OVER A YEAR AGO!
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