George Soros Argues for Euro Bonds Says Greece Has No Chance - (06/25/12)
It is very hard to see how Greece can actually meet the conditions that have been set,” he said. “The Germans are absolutely determined not to modify those conditions. One has to now calculate on Greece being forced out of the euro.”
Spanish and Italian borrowing costs ended last week lower, aided by speculation that European leaders will take action at the Brussels meeting. Spain’s 10-year-bond yields retreated to 6.38 percent on June 22. Comparable Italian yields slid to 5.8 percent after climbing to as much as 6.17 percent on June 18.
Neither Spain nor Italy has the ability to “print money” because they are both members of the euro, making it likelier that financial markets can push one of them out of the bloc, Soros said. Spain is likely to need a full bailout unless leaders announce drastic measures at the meeting, he added.
Creating a European equivalent to Treasuries would buy the union time to form a true political union that will ultimately lead to the sale of bonds backed by the entire bloc, Soros said. European Treasuries could be sold to the market within three to six months once an agreement is in place among leaders, he said.
For full article go to Bloomberg.
for more go to:
Most Recent Posts
- The Stock Market Is Now A Hopeless Situation - Mike Swanson (02/11/2016)
- Hedge Fund Billionaire Kyle Bass Warns of Coming China Total Collapse (02/10/2015)
- Goldman Sachs Says Sell Gold (02/10/2016)
- Oil Could Crash Another 20% (02/10/2016)
- Sears Set To Close Stores Due To Retail Spending Collapse (02/10/2016)
- NSA Looking To Snoop At You In Your Home (02/10/2016)
- David Stockman Says This Is Not Just A Bear Market, But End Of An Era (02/10/2016)
- Wild Bond Action Took Place Yesterday (02/09/2016)
- Former Bush Official Says The American Empire Is Sinking (02/09/2016)
- It’s Time to Prepare for Another Big Stock Market Drop - Mike Swanson (02/08/2016)
Get Our Full Report On Donald Trump's Impact On The Stock Market
The free February issue of WSW Monthly is devoted to Donald Trump and his impact on American politics and the stock market. A Trump win would likely have a huge effect on the stock market. To get this report click here