Posts Tagged ‘financial contagion’

Notes From Underground: LIKE SARTRE, EUROPE IS LOOKING FOR AN EXIT FROM AN EXISTENTIAL CRISIS

July 20, 2011

The perfidy of EUROPE has led down a path of possible financial ruin as the EUROCRATIC ELITE have lived in a fantasy land denying that the markets have had a better understanding of the ills plaguing European finances. Tomorrow, the Brussels bureaucrats and their political comrades will announce what type of program has been crafted to halt the spread of FINANCIAL CONTAGION. The EURO currency was well bid early in the day as the market was breathing a sigh of relief that a genuine plan is in place to stave off default and build a fire wall to protect Italy and Spain. The Italian BTP futures rallied again against the BUNDS. In CASH terms, the Italian 10-years were 14 basis points lower while the BUNDS were 9 basis points higher.

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