Tuesday, August 02, 2011

In Italy Tremonti calls emergency meeting - In Spain Zapatero cancels vacation departure.

Ciaran Giles of Associated Press has the report, highlights of which are quoted in my headline.

At last some of the presumed leaders of the EU are beginning to wake up to the realities of the markets, upon which I posted at length last evening.

More on the sell off in stocks of the Italian banks, from the WSJ linked here.

In Germany investors seeking a safe-haven for their money have taken inflation adjusted yields on German 10 year bonds to Zero, the first time for fifty years! Read Reuters here.

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