« on: September 06, 2010, 07:21:12 AM »
I have heard that the euro is teetering
right on the edge of collapse. If that happens . . .
Fears rise as EU nations aim to raise borrowing
By David Oakley, Capital Markets Correspondent
Published: September 5 2010 12:37 | Last updated: September 5 2010 20:16
The eurozone debt crisis is about to enter a critical phase as governments prepare to step up borrowing in the capital markets to fund their faltering economies.
Some strategists are warning that some of the weaker economies could fail to raise the amount of money they need as eurozone governments attempt to issue double the amount of debt this month compared with August.
Eurozone governments will try to raise €80bn ($103bn) in September compared with new bond issuance of €43bn in August. Spain is expected to attempt to borrow €7bn in September compared with €3.5bn in August, according to ING Financial Markets.
Spain, Portugal and Ireland , so-called peripheral eurozone economies, are considered most in danger of being shunned by investors as worries persist over the health of their banks and economies. Greece is no longer a concern because it has emergency loans to cover its funding for the next two years.
Padhraic Garvey, head of rates strategy for developed markets at ING Financial Markets, said: “We are heading into a critical period as the chances rise that a government may fail to raise the money it needs.
The rest is at:
http://www.ft.com/cms/s/0/abe5bf60-b8dc-11df-99be-00144feabdc0.html#One of the additional stories in that section is "Germany's strength weakens others." Apparently, the German economy is growing well.
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"Timid men prefer the calm of despotism to the tempestuous sea of Liberty." - Thomas Jefferson
"All you have to do is look straight and see the road, and when you see it, don't sit looking at it - walk!" -Ayn Rand
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"These anti-gun fools are more dangerous to liberty than street criminals or foreign spies."--Theodore Haas, Dachau Survivor
Chase her.
Chase her even when she's yours.
That's the only way you'll be assured to never lose her.
