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View Diary: Is Rome Burning? (16 comments)

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  •  From Barclays today (1+ / 0-)
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    Richard Lyon
    Barclays economists believe Italy and Spain are likely to need an external financial ‘shield’ of 500-800 billion euros to protect themselves from destabilizing market dynamics.  That’s bigger than the U.S.’s Troubled Asset Relief Program launched in 2008. It is also bigger than QE2.

    Capital injection from the European Financial Stability Facility, the European Central Bank, and the International Monetary Fund are unlikely to be the big ‘bazooka’ the market is hoping for.  Ultimately, whether a solution is reached largely depends on developing a more coherent vision of the post-crisis landscape. That means politicians will have to actually do something.

    Europe doesn't seem to be any more able to find a consensus for action than Washington.

    "In a nation ruled by swine, all pigs are upwardly mobile." Hunter S. Thompson

    by Keith930 on Fri Nov 25, 2011 at 06:02:49 PM PST

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