10 February 2010

The Beginning of Sovereign Debt Defaults?

I would guess the dollar will rise in value and gold will be falling in price relative to it. From a year ago: THURSDAY, FEBRUARY 26, 2009 Euro Nation Default A Matter Of Time Claims Ex-Bundesbank President Posted by Tyler Durden at 11:09 AM Karl Otto Poehl is pouring some major cold water on all the optimistic talking heads saying eurozone defaults can be avoided. According to the former Bundesbank president, a default of smaller member of the euro region is only a matter of time. "The first will certainly be a small country, so that can be managed by the bigger countries or the IMF,” he said in an interview with Sky News. “I think there are countries in Europe which are considering the possibility to leave the eurozone. But this is practically not possible. It would be very expensive." http://zerohedge.blogspot.com/2009/02/euro-nation-default-matter-of-time.html From today: FEBRUARY 10, 2010, 11:52 A.M. ET UPDATE:EU Officials In Talks Amid Greece Bailout Speculation http://online.wsj.com/article/BT-CO-20100210-714529.html?mod=WSJ_World_MIDDLEHeadlinesEurope

No comments:

Out and about on the homestead