Lehman Redux: Is It Time to Panic Again? Gross, Others Think So
Is it time to allocate a significant portion of your client’s portfolio to shotgun shells and canned beans? While it might be a tad overly dramatic, signs from PIMCO Chairman Bill Gross and others point to yes.
Greece Forms New Government
On Wednesday Greece managed to agree in principle to form a conservative coalition government, with three pro-bailout parties agreeing to cooperate and giving the coalition a majority of 179 seats.
Talk of Greek Euro Exit Grows as Political Deadlock Continues
More than a week after elections brought anti-austerity parties to the fore, the task of brokering a compromise is in the hands of President Papoulias, who thus far has been as unsuccessful as the party leaders themselves.
Spain Should Solve Its Own Problems: German Bank Chief
Jens Weidmann, a policymaker at the European Central Bank and head of Germany's Bundesbank, said Spain should look upon its rising bond yields as a signal that it needs to fix its own problems and not look to the ECB for help via bond purchases.
ECB Plans to Surrender Greek Bond Profits
ECB officials Joerg Asmussen and Luc Coene support the idea, and discussions are under way to determine how to book such profits up front so that they can be provided to Greece as an early lump sum.