"How can I know what I think until I read what I write?" – Henry James


There are a few lone voices willing to utter heresy. I am an avid follower of Ilusion Monetaria, a blog by ex-Bank of Spain economist (and monetarist) Miguel Navascues here.
Dr Navascues calls a spade a spade. He exhorts Spain to break free of EMU oppression immediately. (Ambrose Evans-Pritchard)

miércoles, 24 de noviembre de 2010

El bono español, a más de 5% (2,50% por encima del alemán)

España es más grande que Irlanda Grecia y Portugal juntas. Se está empezando a concentrar sobre nosotros la desconfianza. La deuda de España es del tal volumen absoluto que es difícilmente rescatable. Mientras, sería imprescindible que Irlanda, de una vez, arreglara sus diferencias políticas y se afirmara el paquete de ayuda. Eso nos haría ganar tiempo. 


De yahoo finance, http://news.yahoo.com/s/ap/20101124/ap_on_bi_ge/world_markets_18


The market rate for ten-year Spanish bonds also spiked 0.18 percentage point, to 5.08 percent.
"The continued political turmoil in Ireland appears to have become almost secondary as fears about a Spanish contagion roiled investors, as fears rise that European leaders are starting to lose control of the situation, in what could fast become a slow motion train wreck," said Michael Hewson, market analyst at CMC Markets.
The consensus in the markets is that the European Union, or at least the 16 countries that make up the single currency bloc, can sustain bailing out the small countries like Greece and Ireland and even Portugal.
If Spain is left with no alternative but to tap its partners to pay off its debts, then some believe the euro project itself could be in jeopardy. Spain accounts for around 10 percent of the eurozone economy, in contrast with the other three countries, which account for around 2 percent each.

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