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“The market is priced for some kind of Lehman-like event,” Brian Barish, the Denver-based president of Cambiar Investors LLC, which oversees about $8 billion, said in a Bloomberg Television interview. “It’s clear that this is coming to a head. If for some reason, Greece goes into an uncontrolled default and it spreads to Italy, which is a $3 trillion bond market, I don’t know how you’re going to put Humpty Dumpty back together again in terms of the world economy.”
German lawmakers will vote today on changes to the European Financial Stability Facility. The plan before the lower house in Berlin would allow the fund to buy bonds of distressed states and offer emergency loans to governments. and offer emergency loans to governments.
Italy will auction as much as 9 billion euros ($12.2 billion) of bonds today.
“It’s clear that this is coming to a head. If for some reason, Greece goes into an uncontrolled default and it spreads to Italy, which is a $3 trillion bond market
he Merkel government faces its next major test in just under two weeks when, as part of its plans to rescue Greece, parliaments meet to ratify boosting the lending capacity of the European Financial Stability Facility (EFSF) from €250bn to €440bn. With opposition increasing from within her own ranks, Ms Merkel cannot be certain of a majority.
The Chancellor has indicated that she may have no option but to rely on the votes of opposition Social Democrats and Greens to get the measure through parliament. Observers predict that, if she takes this course, she will be forced to hold a parliamentary vote of confidence in her government, which would almost certainly result in the end of her administration.
Originally posted by Shenon
reply to post by Vitchilo
You forgot,even if the Vote passes,Germany could be downgraded because of the increased financial Burden...
Originally posted by Shenon
reply to post by TDawgRex
In Germany,they cover it live 08.50am - 12.00am (thats in 3 1/2 Hours) I´m sure CNBC or others will cover it too...it is kinda important
Originally posted by starshift
We have been feed the importance of the money system our entire lives. Many of us have shaped our lives towards getting an education so that we may have a good paying job. The youth of today have very little to hope in terms of that future world any more, yet we hold on to hope as if things are going to turn around financially. The debts can't be re-paid so we allow the media to tell us that we will have to pay even more in taxes, take cut backs in funding, etc.
Their money system is not even real. It's supported by our imagination and cult like belief in it's power.
Let's stop pretending that it matters. It's not real. It was a very clever trick played upon the masses for many many years. Continuing to believe in it's power will only make you a slave to it's purpose.
Originally posted by xXHORUSXx