The E.U. implosion continues. Zero Hedge. Excerpts:
Earlier today, by way of a simple graphic, the world's biggest hedge fund, Bridgewater, was kind enough to remind the world just how pointless any debates about Europe's future viability are if the primary funding conduit: the EFSF/ESM hybrid can not provide the cash needed for even half the combined funding needs of Italy and Spain. Now, Bridgewater strikes at Europe once again, this time redirecting the general attention to where it is long overdue: Italy.
And:
..at negative €48 billion in residual LTRO capital, Italy flat out has no additional cash with which to plug ongoing debt funding needs.
Greece, Spain, and Italy in various states of economic and domestic flux. Germany has to be thinking of leaving the Union.. Greece has shown them that austerity through the EU won't come without many fights. As the "Banker" country, problem nations have a lot of outstanding money owed to Germany. They might be economically the strongest country in the EU, but Germany is not invincible, and quite capable of being sucked asunder in the financial quicksand trapping their debtors.
Decision time looming for all countries, including Germany and France. Who stays? Who goes? Can a few be sacrificed for the many? Is it too late?
How long before Italy's distress begins to reverberate here in the U.S.?
Earlier today, by way of a simple graphic, the world's biggest hedge fund, Bridgewater, was kind enough to remind the world just how pointless any debates about Europe's future viability are if the primary funding conduit: the EFSF/ESM hybrid can not provide the cash needed for even half the combined funding needs of Italy and Spain. Now, Bridgewater strikes at Europe once again, this time redirecting the general attention to where it is long overdue: Italy.
And:
..at negative €48 billion in residual LTRO capital, Italy flat out has no additional cash with which to plug ongoing debt funding needs.
Greece, Spain, and Italy in various states of economic and domestic flux. Germany has to be thinking of leaving the Union.. Greece has shown them that austerity through the EU won't come without many fights. As the "Banker" country, problem nations have a lot of outstanding money owed to Germany. They might be economically the strongest country in the EU, but Germany is not invincible, and quite capable of being sucked asunder in the financial quicksand trapping their debtors.
Decision time looming for all countries, including Germany and France. Who stays? Who goes? Can a few be sacrificed for the many? Is it too late?
How long before Italy's distress begins to reverberate here in the U.S.?
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