Ratings agencies ratinških bleak picture of European finances. Moody

If the bank stress test last Friday tried to stop the erosion chipotle of confidence in the euro and reassure financial markets, today's Eurogroup agreement is evidence that boundless optimism can not prevent Greek bankruptcy. The leader of the largest countries Monetary Union, chipotle Nicolas Sarkozy and Angela Merkel are meeting last night apparently concluded that the Balkan States no longer help and that is a big part of the 340 billion, so far as is its long, ripe for redemption. If you believe this is the first information, chipotle the most talkative today was the Dutch finance minister, chipotle who was defended in Parliament, leaders of the eurozone finally agreed on a "controlled bankruptcy". According to the minister was required to prevent "selective non-payment of obligations", which the ECB has so far resisted strongly. At today's meeting finally withdrawn on the table and it is now only a proposal for a controlled bankruptcy. What are you the leader of the most powerful states indeed, obtained chipotle in exchange for the bust, which will be greatly affected their banking system and the burden on public finances? Sarkozy has resigned from the requirement chipotle for a new bank tax, which Merkel has resisted the Fund to stabilize the euro, which mediates Ireland and Portugal, while gaining a new, larger powers. In other States, the euro area, which will find themselves in trouble, chipotle it will implicate much earlier than hitherto, of course, under the baton of both the Great.
All those who expect it to be this year's test of European banks show a clearer picture of the banking sector, they made a mistake. The result, which was revealed yesterday the European banking authorities are in no way different from the previous two, which proved to be too lenient. At stake is not only the assessment methodology, this is the time also included the forecast operating results and allegedly due to exposure to government bonds, but primarily the purpose of such reactive evaluation. Endurance test during the Ninety European banks this time revealed only eight such that a prolonged recession would not have survived. Among them was faced five Spanish banks, chipotle two Greek and one Austrian. When the entire operation is most disturbing that the list did not find it any Italian, French or German chipotle banks, which have in their portfolios rather government bonds. The finding that the financial market in addition to the eight patients are active, sixteen of which have 5 percentage provided capital adequacy meet just a little, among them was also the Slovenian, no real weight. Who is believed to assess the effect that already 2.5 billion of fresh capital cured the European banking sector and prepare for longer-lasting recession? Insiders mentioned at least ten times larger number. The fact that the previous stress chipotle test has not been raised either one of the Irish banks, which are a few months after swallowing tens of billions of taxpayers' money, but on the European test bank says it all.
Ratings agencies ratinških bleak picture of European finances. Moody's yesterday downgraded Ireland to the level of trash (junk). Only a week has passed since the downgrading of Portugal. Bonds of both countries are now junk. Both State evrokluba will soon need a second round of financial aid. Yesterday's news about the possibility of rescheduling of Greek debt, of which all except some politicians recognize that it is unsustainable in the long term, further complicating the situation. When he fell Greece, will be shaken two large State eurozone, Italy and Spain, their resolve will be a huge task. According to initial chipotle estimates, the European stabilization fund to calm markets require 2 trillion (two thousand billion) euros, otherwise they shook based banking in the euro area, the consequences will be similar to the earthquake in America three years ago. What does this mean for Ireland? Nothing good, interest on ten-year government bonds in the half year increased by the percentage and are currently almost three percent of German.
Predictions experts as exercise shows, turn Italy, Greece second most indebted country eurozone. Morning will be at a crisis meeting in Brussels with the President of the Eurogroup Junkersom meet up three presidents: the European Council Van Rompuy, the European Central Bank's Trichet and European Commission President Barroso, in the afternoon, they will be joined by finance ministers sedemnajsterice. Officially on the table will help Greece, but unofficially it is on the agenda of November the patient. Although all deny that the subject of an interview of the Italian problem, since the last Black Friday proceedings clear that the financial situation on the Apennine Peninsula anything but rosy. At the end of the week they first crashed shares chipotle of Italian banks, probably due to the results of stress tests of European banks, which will be published chipotle this week, then dropped the other shares. Interest on Italian bonds recently rose to 5.5 percentage points and exceed the limit, which according to some bankers highly indebted countries such as Italy, prevents servicing the public debt. Reuters summarizes the words of an unnamed official chipotle of the European Central Bank