Monday, September 05, 2011

Bank shares slide across Europe

The ECB spent €13 billion on bond purchases last week. Italian and Spanish Credit Default Swaps on their sovereign debt are both up by over 6% today see here.

Confusion amongst Europe's politicians seems to be reaching new peaks even beyond those reflected in the Gold Price. As I type, gold is at $1898.98 per ounce.

The latest view from Germany on the Greek fiasco may be read in Der Spiegel from here. I particularly enjoyed the fact that the body to handle the privatisations has so far only two employees!

Herman Von Rompuy's remarks following his trip to Helsinki and meeting with the Finnish PM is here. Those not wishing to plough through the pdf can get this summary as follows:

Good progress is being made and I'm confident we will find an agreement soon.

Lifejackets anybody?

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