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
- Jim Cramer Defends NFLX Against Those That Sell - CNBC (10/18/2017)
- Fraud, Exploitation and Collusion: America's Pharmaceutical Industry - Charles Hugh Smith (10/18/2017)
- Trump And Iran: Have The Neocons Won? - Ron Paul Institute (10/18/2017)
- Slain Maltese Journalist Had Powerful Enemies - The Real News (10/18/2017)
- Porkins Policy Radio episode 113 Michael Swanson on Ken Burns Vietnam Propaganda (10/17/2017)
- What to Trade Now In the Markets with David Skarica - Mike Swanson (10/17/2017)
- Stock Market Party Coming To An End Warns Marc Faber - Kitco News (10/17/2017)
- Facebook and the US Government Are in a Race to Read Your Mind - Jake Anderson (10/17/2017)
- The Fed Is Confused about What Drives Inflation - Frank Shostak (10/17/2017)
- On Iran, Trump Follows Iraq War Neocons - The Real News (10/17/2017)
Grab This Free Report: My Top Options Trading Setup
This free special WSW report is devoted to my top options trading setup. I do this one simple trade at least once a month.
Grab it and get along with it our future stock market action updates. Do not think about buying any other stocks or options before you read this report. To get this report click here