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Tag Archives: italy
Futures Soar On Hope Central Planners Are Back In Control, China Rollercoaster Ends In The Red
Futures Soar On Hope Central Planners Are Back In Control, China Rollercoaster Ends In The Red For the first half an hour after China opened, things looked bleak: after opening down 5%, the Shanghai Composite staged a quick relief rally, then tumbled again. And then, just around 10pm Eastern, we saw acoordinated central bank intervention stepping […]
Italy – Non-Performing Loans Hit a New Record High
Italy – Non-Performing Loans Hit a New Record High While all Eyes are on Greece, Italy’s Banks are Drowning in Bad Debt The real danger to the euro area probably doesn’t emanate from Greece, but from two of its heavyweights, namely France and Italy. A small note in the European press reminds us that all is not […]
China Soars Most Since 2009 After Government Threatens Short Sellers With Arrest, Global Stocks Surge
China Soars Most Since 2009 After Government Threatens Short Sellers With Arrest, Global Stocks Surge Here is a brief sample of some of the measures the Chinese government and the PBOC have unleashed in just the past ten days to prop up the crashing market include: a ban on major shareholders, corporate executives, directors from […]
Germany Crushes All Hope Of Greece Getting Debt Relief
Germany Crushes All Hope Of Greece Getting Debt Relief As the Grexit debate is falling into the background a new, far more powerful conflict emerges: one between Germany on one side, and the IMF, France, Italy, and perhaps even the US, when it comes to the all important issue of debt relief. As a reminder, […]
Greece Caves, Formally Requests ESM Bailout: Full Headline And Next Steps Summary
Greece Caves, Formally Requests ESM Bailout: Full Headline And Next Steps Summary As we reported yesterday, following the latest European leaders summit, Greece was given until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe’s currency […]
Leaked Documents Show FBI, DEA and U.S. Army Buying Italian Spyware
Leaked Documents Show FBI, DEA and U.S. Army Buying Italian Spyware The FBI, Drug Enforcement Administration and U.S. Army have all bought controversial software that allows users to take remote control of suspects’ computers, recording their calls, emails, keystrokes and even activating their cameras, according to internal documents hacked from the software’s Italian manufacturer. The […]
Greece Fallout: Italy and Spain Have Funded a Massive Backdoor Bailout of French Banks
Greece Fallout: Italy and Spain Have Funded a Massive Backdoor Bailout of French Banks In March 2010, two months before the announcement of the first Greek bailout, European banks had €134 billion worth ofclaims on Greece. French banks, as shown in the right-hand figure above, had by far the largest exposure: €52 billion – this was 1.6 […]
The Biggest Issue Now Is “The Math”
The Biggest Issue Now Is “The Math” Some quick pre-market observations from Bloomberg’s Richard Breslow Just Don’t Nip Out for a Haircut The Greek citizenry voted and the handicappers got it very wrong. The result of the vote was called much earlier than anyone expected. It wasn’t close. Much was made last week of the […]
Did The IMF Just Open Pandora’s Box?
Did The IMF Just Open Pandora’s Box? By now it should be clear to all that the only reason why Germany has been so steadfast in its negotiating stance with Greece is because it knows very well that if it concedes to a public debt reduction (as opposed to haircut on debt held mostly by […]
Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open
Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open While things have normalized since the open thanks entirely to the SNB’s aggressive EUR-buying, CHF-selling intervention (good to see that central banks have read the BIS’ report and have learned from their prior intervention mistakes), earlier this morning we got a snapshot of what […]
“The Collateral Has Run Out” – JPM Warns ECB Will Use Greek “Nuclear Option” If No Monday Deal
“The Collateral Has Run Out” – JPM Warns ECB Will Use Greek “Nuclear Option” If No Monday Deal (via Corriere) Although estimates vary, Kathimerini, citing Greek banking officials, puts Friday’s deposit outflow at €1.7 billion. If true, that would mark a serious step up from the estimated €1.2 billion that left the banking system on Thursday and serves […]
Greece: Out Of Cash, Out Of Time, Out Of Options
Greece: Out Of Cash, Out Of Time, Out Of Options On Friday Greece is due to pay at least a quarter of the €1.5bn due to the IMF in June. … The creditors say they will only disburse the money if the Greek government enacts various key economic reforms and does not roll back reforms the […]
Is There Something Behind the Power Outage in Washington DC?
Is There Something Behind the Power Outage in Washington DC? The April 7th, 2015 power outage in Washington DC is curious to say the least. Virtually instantaneously, the government declare it was not a terrorist attack. After all, how could that possibly be when the NSA guards the country. If there was an attack on […]
