Steal
5th June 2010, 08:01 PM
All I have to say is come on $15 silver. Its monster box time.
On The Trail Of Europe's "Mysterious" $2.6 Trillion In Toxic Debt
Submitted by Tyler Durden on 06/05/2010 14:32 -0500
Deutsche Bank Eastern Europe France Germany Greece Hypo Real Estate International Monetary Fund Ireland Italy Portugal Real estate Sovereign Debt Vigilantes
The NYT has a pretty good article about the "mystery" of Europe mega toxic loans, which amount to $2.6 trillion just to Greece, Spain and Portugal, in that all attempts to find out just who is on the hook for all this debt have apparently yielded no results. We disagree: this is a topic that has been beaten to death before on ZH, and it is all too well known that France and Germany will go bust overnight if PIIGS debt is allowed to be marked even halfway to market pro forma for governmental bailouts, on the banks' balance sheets. Throw in Austria and Italy if the Hungarian crisis (amusingly, the Hungarian government is now scrambling to undo the harm it caused with its fast and loose words of caution last week, but too late - it has now lost all credibility) spreads to Eastern Europe, and the mystery is solved. But at least the NYT has some pretty charts.
http://www.zerohedge.com/article/trail-europes-mysterious-26-trillion-toxic-debt
and related...
http://baselinescenario.com/2010/06/04/french-connection-the-eurozone-crisis-worsens-sharply/#more-7713
On The Trail Of Europe's "Mysterious" $2.6 Trillion In Toxic Debt
Submitted by Tyler Durden on 06/05/2010 14:32 -0500
Deutsche Bank Eastern Europe France Germany Greece Hypo Real Estate International Monetary Fund Ireland Italy Portugal Real estate Sovereign Debt Vigilantes
The NYT has a pretty good article about the "mystery" of Europe mega toxic loans, which amount to $2.6 trillion just to Greece, Spain and Portugal, in that all attempts to find out just who is on the hook for all this debt have apparently yielded no results. We disagree: this is a topic that has been beaten to death before on ZH, and it is all too well known that France and Germany will go bust overnight if PIIGS debt is allowed to be marked even halfway to market pro forma for governmental bailouts, on the banks' balance sheets. Throw in Austria and Italy if the Hungarian crisis (amusingly, the Hungarian government is now scrambling to undo the harm it caused with its fast and loose words of caution last week, but too late - it has now lost all credibility) spreads to Eastern Europe, and the mystery is solved. But at least the NYT has some pretty charts.
http://www.zerohedge.com/article/trail-europes-mysterious-26-trillion-toxic-debt
and related...
http://baselinescenario.com/2010/06/04/french-connection-the-eurozone-crisis-worsens-sharply/#more-7713