Posts filed under “Currency”

The Amazing Irreversible Euro

Click to enlarge:

The Telegraph – The euro is “irreversible” and not in danger, says Draghi
The euro is “irreversible” and the beleaguered currency union is not in danger of collapsing, according to European Central Bank President Mario Draghi, who also argued that eurozone nations will eventually be bound even closer together. The central bank chief suggested that analysts who have been tracking the mounting sovereign debt crisis in Europe have been too pessimistic in forecasting worst-case scenarios for the currency and had not recognised the political will behind the eurozone. He was bullish on the future of the currency despite the escalating crisis in Spain, where stocks on Friday experienced their biggest one-day drop in two years, dragging other European markets down with them. The yields, or interest rates, on benchmark 10-year Spanish government bonds have also climbed even further beyond the 7pc threshold, which many market-watchers view as unsustainable. Mr Draghi claimed that the currency was “absolutely not” in danger when asked by France’s Le Monde newspaper in an interview. “We see analysts imagining the scenario of a euro zone blow-up,” he said. “They don’t recognise the political capital that our leaders have invested in this union and Europeans’ support. The euro is irreversible.”

Source: Bianco Research

Category: Currency, Think Tank

The Euro

Click to enlarge: Barron’s – The Euro’s Fate Against the intense media glare trained on crucial recent events of Europe, notably Greece’s election and the latest summit of European Union leaders, one important development was all but obscured. Airbus, the European consortium that is the main rival to Boeing, recently announced that it will establish…Read More

Category: Currency, Think Tank

Soros Calls on EU to Start Joint Debt Fund

Billionaire investor George Soros speaks about Europe’s sovereign-debt crisis. Soros called on Europe to start a fund to buy Italian and Spanish bonds, warning that a failure by leaders meeting this week to produce drastic measures could spell the demise of the currency. He spoke yesterday with Bloomberg Television’s Francine Lacqua in London.


Source: Bloomberg, June 25 2012


Transcript after the jump

Read More

Category: Currency, Video

Just Another Panic Monday in Euroland

Last week’s rally in Euroland was short lived with today’s big sell-off (see charts below).  The political tensions are coming to the surface and markets don’t like want they see and don’t see a positive outcome. As the Germans think out loud about a Euro breakup (see cover Der Spiegel below)  here’s an excerpt from…Read More

Category: Currency, Think Tank, Trading

Drachma: Feta Accompli ?

Faced with financial ruin, Greece votes to stay within the European Union and enact strict austerity measures — but no one bothered to tell the drachma. The Daily Show with Jon StewartGet More: Daily Show Full Episodes,Political Humor & Satire Blog,The Daily Show on Facebook Monday June 18, 2012 (04:55)

Category: Currency, Weekend

Those Crazy Austrians…

As if they don’t have enough to worry about in Europe these days, what with the relief of the Spanish bank bailout fading within hours yesterday and with a Greek election looming this weekend that could lead to a disorderly exit of the nation from the currency union, now there’s apparently a “loose cannon” by…Read More

Category: Bailouts, Currency

Uncollateralized Trillion Euro Perpetual Zero Coupon

Michael Belkin is the author of the eponymously named Belkin Report — a highly respected institutional quantititative/technical service that looks at global markets in equities, commodities, currencies and bonds. His report this week is tongue-in-cheek titled “Where Else Are You Going To Put Your Money?” and begins with this delightful spoof of the Euro bailout…Read More

Category: Bailouts, Currency, Derivatives, Humor


June 04, 2012 THE EURO – WHAT SHOULD HAVE BEEN “I think more of the little kids from a school in a little village in Niger who get teaching two hours a day, sharing one chair for three of them, and who are very keen to get an education. I have them in my mind…Read More

Category: Currency, Think Tank

Visualized Economic Markets

A world map used by Erik Penser Bankaktiebolag to visualize economic markets. The map contains approximately 3,000 coins and every continent is built out of its countries’ currencies. Used in various medias during 2009. Click to enlarge: ˜˜˜ ˜˜˜ ˜˜˜ Source: Erik Penser Bankaktiebolag

Category: Currency, Weekend

The Weakening Euro

The New York Times – In Spain, Bank Transfers Reflect Broader Fears Ángel de la Peña, a Spanish government worker, is seriously considering the once unthinkable: converting some of his savings from euros to British pounds. Alvaro Saavedra Lopez, a senior executive for I.B.M. in Spain, says many of his corporate counterparts across the country…Read More

Category: Currency, Think Tank