Spreading Eurozone Contagion

By Stephen Lendman
Sunday, November 27th, 2011

by Stephen Lendman


The operative word is contagion. It’s malignant and spreading because it’s unresolved and irresponsibly addressed.
Germany, Europe’s strongest economy, just had its worst ever bond auction since 1999. Over a third of 10-year bunds offered were unsold. More on the failure below.
Comparable Italian yields jumped to 7.3%. Italy’s two-year bond hit 7.7%. The inverted curve signals tougher times ahead. Italy also sold six-month bills at 6.50%, its highest rate in 14 years.
Troubled Spain had to pay 5.11% for three-month money, the highest short-term rate since formation of Europe’s Economic and Monetary Union (EMU) in 1999.
Other Eurozone rates also rose, including Portugal’s after Fitch downgraded its debt to junk and retained a negative outlook. Hungary was downgraded to junk as well with a negative outlook. Yields there jumped close to 10%. Belgium’s in trouble. So are France and Britain. Credit default swaps on European sovereign debt and banks reached all-time highs.
Earlier in the week French bonds were hammered. Europe’s debt crisis moved from periphery countries to core ones. Many believe the Eurozone can’t survive, except perhaps with fewer stronger members.
The European Investment Bank (the EU’s financing institution) is also being pressured. Yields on its debt rose. So did European Financial Stability Facility (EFSF) bond rates. Yields on its 10-year maturities jumped from 3 3/8% to 3.88%, up from 2.68% two months ago.
In other words, not only are Eurozone countries being pressured, but institutions established to rescue them. Smart money’s saying don’t bet on Europe. Bet against it. Some say it also about America. Expect that chorus to grow.

more
darkpolitricks

Views: 52

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

cheeki kea commented on cheeki kea's photo
Thumbnail

$ Paid Annual Leave $

"Now is the Time for American Workers to Unite! Take back the squandered taxes and demand time off…"
yesterday
cheeki kea posted a photo
yesterday
Burbia commented on Burbia's blog post Mystery illness strikes Russia with fever, blood symptoms, and no cure in sight.
yesterday
Burbia posted a blog post

Mystery illness strikes Russia with fever, blood symptoms, and no cure in sight.

I guess releasing this bio-weapon upon Israeli neighbors would be hitting too close to home. I…See More
yesterday
tjdavis posted videos
yesterday
tjdavis posted a video

The Electric State | Final Trailer | Netflix

Together, robots & humans can take the whole system down. THE ELECTRIC STATE starring Millie Bobby Brown, Chris Pratt and directed by the Russo Brothers, onl...
Sunday
Less Prone favorited Sandy's video
Saturday
Doc Vega's 7 blog posts were featured
Saturday
tjdavis's blog post was featured
Saturday
Sandy posted a video

"Mommy Tells Me I'm a Girl"-Jeff Younger

Soft White Underbelly interview and portrait of Jeff Younger, a father who is fighting to protect his son from transitioning into a girl. Get 40% off access ...
Saturday
tjdavis posted a video

MindWar: Full Spectrum Cognitive Dominance [Michael Aquino Analysis]

This is my analysis and my thoughts on Michael Aquino's "MindWar". This document is a must-read if you are looking to understand the psyop tactics and cognit...
Saturday
Doc Vega posted a blog post

A Horrid Murder at Land Between the Lakes (Sasquatch?)

 Most of us hear that Sasquatch-Bigfoot are intelligent yet reclusive creatures that are closely…See More
Friday
Doc Vega posted blog posts
Thursday
cheeki kea commented on cheeki kea's video
Thumbnail

Metropolis (1927) Full Movie | 4K Color Remastered: 2023 Colorized with Gottfried Huppertz Score

"Hey thanks for the thumbs up guys. I was blown away (like a leaf in a tornado) when I watched this…"
Thursday
tjdavis favorited cheeki kea's video
Thursday
tjdavis posted a video

Did you know this? I was SHOCKED!

Wounder how many people know what they do to baby chicks? Wounder if they know what the are doing to Salmon? What about the lettuce and tomatoes? This will n...
Thursday
cheeki kea posted a photo
Thursday
Less Prone posted a video

Pine Tree Riots - We'll Have Our Home Again

NOW ON SPOTIFY (and everywhere else)!https://open.spotify.com/album/1gWcRqHD7TSbAA2UzYOLWlEvery people deserves a Homeland.Sung by no one in particular.Origi...
Mar 25
Less Prone favorited cheeki kea's video
Mar 24
cheeki kea posted a video

Metropolis (1927) Full Movie | 4K Color Remastered: 2023 Colorized with Gottfried Huppertz Score

🎉🎬 AT LAST❗❗ Metropolis is the FIRST film we colorized using our newly developed AI colorization software, and we are proud to bring it to you now with the...
Mar 24

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted