15 Responses to Financial markets close in turmoil as downgrades spread across Eurozone

  1. Martalien says:

    this is insane downgrading is happening all over europe who’s next happy new year again it will be an insane one..


  2. Tim says:

    A visualization of the United States debt

    US Debt Clock

    Top 5 Places Not To Be When The Crash Comes


  3. del 8395 says:

    Well, foolishly I voted back along for a common market. ‘Market’ being the whole point of the original idea where we had an open trading policy.

    I was never sold the idea at the time of a super state where my country no longer controlled its on destiny or was dictated by France & Germany.

    Whilst i have no dislike for Germany or France, I do not want my future dictated by them.

    Its true Germany has an excellent culture and way of life. I have spent a lot of time visiting there.

    France is little more than an extension of its post war self in which its President (Sanky) is representative of a nation of wingers and whingers which he has recently publicly demonstrated across the world press and television. .I often wonder if cozying up with Germany its to ensure should WW3 they would not have the same situation as they did in WW2.

    I think the UK, where I live, will come out on top of the whole mess. As we have had had the foresight to say no to the Euro. Whilst it may be a difficult time for us here, for some prolonged period. Our population are used to hard times and just got on with it. There is no doubt that we too have our problems here. For one, our country has become a place of lazy scroungers who see our welfare system as a means of an easy life. I am please to say this is changing, albeit slowly. And at last we are applying breaks to the endless numbers of immigrants who see this as the place live, work or steal and existence.

    Just like the banking systems all over the world. The common enemy of Europe has been the greed of the bankers and insane politicians who have stolen not only our money but our freedom to govern ourselves independently. Introduced stupid ideas that just plain lunacy (straight bananas for instance) or tried to inflict their wlll and laws that just are not reflect infrastructure of the individual members states adding unnecessary financial burdens and laws to the countries.

    I think the Euro and the market would have been a futuristic model of democracy for the world had it not been abused by the unelected. But sadly for all the reasons stated I look forward to its demise if for no other reason we can again control our own destiny.


  4. luisport says:

    S&P: “we will publish our updated credit view in the coming days” on the EFSF

    há 13 horas
    S&P: “Italy and Spain are particularly prone to the risk of a sudden deterioration in market conditions.”

    há 13 horas
    S&P: “We do not believe that private-sector involvement will necessarily be a one-off event in the case of the Greek restructuring”

    há 13 horas
    S&P: “the agreement reached at the summit did not contain significant initiatives to address near-term funding challenges”

    há 13 horas http://twitter.com/#!/zerohedge


  5. luisport says:

    Forget The Downgrades, There’s A Much Scarier Turn Of Events Taking Place In Europe

    What got overshadowed yesterday is the fact that the negotiations between Greece and its creditors have broken down.

    According to FT, the talks are due to resume on Wednesday, but the bottom line is that Greece is not close to a restructuring deal, and without a deal, a default is a good possibility.

    The FT’s opening paragraphs lays it out starkly:

    Talks over Greece’s debt restructuring broke down on Friday, an unexpected blow that makes it increasingly likely that Athens will become the first government of a developed country in more than 60 years to suffer a full-scale default on its debt.

    The deadline is sometime in March, which means there’s still time, but Europe could be looking at its first “event” of the whole crisis very soon.

    Read more: http://www.businessinsider.com/greek-debt-talks-broken-down-2012-1#ixzz1jR8nhKA2


  6. luisport says:

    One More Thing To Watch From The Eurozone Downgrades…

    Quick points here. We probably haven’t seen the end of the Eurozone downgrades.

    First, Jamie Coleman at ForexLive notes:

    Next week, all the banks and other government-related issuers in the downgraded countries will be downgraded as well.

    First the sovereigns, then the banks. They do it every time…

    And then Felix Salmon discusses the EFSF rating…

    My guess is that the EFSF is going to get downgraded very soon — quite possibly on Monday. There’s actually not much point in Europe restructuring it so that it retains its triple-A: the political cost would be huge, and the benefit would be entirely hypothetical. (In theory, the financial markets are happy to lever up triple-A-rated assets. In practice, if those assets are European sovereign debt, not so much.)

    It’s still not clear that any of these ratings matter, but the big red-letter headlines will have an impact.

    Read more: http://www.businessinsider.com/one-more-thing-to-watch-from-the-eurozone-downgrades-2012-1#ixzz1jRBwHlLJ


  7. RainMan says:

    Can’t believe the can is still rolling down the road, one more kick left perhaps?


  8. Philippino Bob says:

    The can will be rolling for much longer than we can think.
    My guesstimate is 5 to 10 years!
    The first half it will be a lot of bla, bla, but during the second half, the can will be flying!
    A global war will extend the life of a can.


    • RainMan says:

      Agree, it’s a matter of time, though which is better, a slow death, or a quick one. The longer the PTB drag this mess along, like they did before the Lehmans demise,( to big to fail) the quicker and more devasting the crash. Pride and vanity, ego and denial, all come before the fall.
      God forbid a war, all that fiat money would burn and pollute for years.


  9. Gen says:

    Australia’s Julia Gillard says Europe has itself to blame for credit downgrades. She has been criticized for her comment being “a bit rich”.



  10. luisport says:

    S&P TO ASIA: You’re Next Days after unleashing a wave of downgrades across Europe, S&P is now warning that the ratings of Asia-Pacific sovereigns are increasingly at risk.

    This is according to a Dow Jones interview of S&P’s Chief Credit Officer Ian Thompson (via Wall Street Journal).

    “It’s clear global risks have increased and it’s going to be a more challenging operating environment, even for the Asia-Pacific region,” said Ian Thompson, senior managing director and chief credit officer at S&P, in an interview Monday. “A dislocation in global funding markets also has the potential to damage credit in Asia-Pacific.”

    Read more: http://www.businessinsider.com/sp-to-asia-youre-next-2012-1#ixzz1jcyYZbU6


  11. Tim says:

    January 12, 2012 – Ron Paul in South Carolina warning Americans that the United Nations and the International Monetary Fund (IMF) are planning a one world currency.


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