Wednesday, December 14, 2011

Signs of EU disintegration on every side.

Italy has to borrow some €300 billion next year. Today that country, with protests in evidence and reported on its streets, had to pay an extra 2.5% interets over the last such exercise, for a five year loan. Now that is an extra €7.5 billion extra annual costs, if that interest rate increase can be simply maintained over the coming year.

Credit Agricole, the large French bank, has announced job cuts of 2,350 worlwide this afternoon, read here:

The crumbling "Fiscal Compact", supposedly ready by next March at the weekend, has now been optimistically put back to June, read here, laughingly in that same report Merkel is reported rattling the cash tin for contributions to the longer term ESM, when all else must be wondering how their own present spending plans can possibly be mainntained.



Post a Comment

<< Home