Posts Tagged ‘Jin Liqun’

Notes From Underground: Friday and the BINI SMAGHI Rally Continued

November 13, 2011

It was a risk-on day Friday as the markets were ostensibly relieved by the exit of Berlusconi in Italy and Papandreou in Greece. The replacement of two European will have little effect on the austerity proposals facing the beleaguered profligate states. Most important for the EU is whether the EUROS will be “FOUND” to backstop the indebted sovereigns so as to be able to aid European banks loaded with “risk-free” sovereign bonds. There are meetings all over the world to find support for a world-wide bailout of Europe as the G-20 meeting revealed the urgency of the situation.