Wednesday, August 03, 2011

Is Von Rompuy's bemusement shifting attention to Belgium's bonds?

Von Rompuy's widely reported asinine comments on the latest developments surrounding the doomed euro currency are perhap focussing market attention on the nation that produced, and allowed to clamber to the top, such a clearly clueless individual. Reuters highlights the widening gap between Belgium (and indeed France) versus the real core EU country Germany, in a report just in and linked here. The following is the particular quote:

Ten-year Belgian and French spreads over Bunds hit fresh euro era highs at 209 bps and 81 bps respectively, in a sign that Italy's underperformance has raised fears the euro zone crisis could hit core economies as well.
"Equities everywhere seem to be under a lot of pressure. (Belgium) is probably the next weaker nation after Italy. It is not surprising to me that they are struggling," a trader said.

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Blogger James Higham said...

And Germany, which had hoped to head a pan-European state, is now looking to the lifeboats.

5:08 PM  

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