See the English version further down the page: Europe is financial balances to sell?
Après que la Chine ait rendu public en début de d’année la possession de 7% de la dette publique européenne, le Wall Street Journal révèle aujourd’hui que les marchés ouvrent nerveusement dans le monde à l’attente de la mise aux enchères publiques des bons du Trésor des principaux pays européens
Ce ne sont même plus les 17 pays de l’Euro Groupe qui sont visés mais les 27-30 pays de l’Union Européenne. L’Estonie qui a rejoint les 16 pays de l’Euro Groupe il y a quelques jours s’était vue offrir cette récompense comme un avantage condescendant et condescendu par les autres membres. En fait c’est un pays aux finances malades (l’Estonie) qui entre dans un groupe financier aux abois (les 16 pays de l’Euro Groupe).
Thomson Reuters pour sa part relate en détails les pressions de L’Europe sur le Portugal pour que ce pays accepte… d’emprunter auprès de l’Europe et du Fonds monétaire International dans le but d’éviter que l’Europe ne souffre financièrement de la faillite du Portugal, comme ce fut le cas de l’Irlande il y a deux mois. En d’autres termes : « endettez-vous d’urgence auprès de nous pour que nous puissions aller voir les marchés internationaux et que ceux-ci nous prêtent à nous l’argent que nous allons vous prêter et aussi quelques centaines de milliards d’Euros pour nos propres déficits abyssaux ».
Si la rationalité financière a un sens ce n’est sans doute pas ici qu’il faut le chercher.
La semaine dernière Wall Street était en hausse et les Bourses Européennes en baisse du seul fait que la faible croissance économique américaine faisait contraste avec l’absence relative de bonnes nouvelles économiques en Europe. Cela signifie que l’Europe est à ce point morose que les demi-bonnes nouvelles américaines la rendent malheureuse. L’Euro a perdu 3,4% contre le Dollar la semaine dernière, plus encore contre les autres devises comme le Franc Suisse.
Les banques européennes sont doublement mises en difficulté par cette situation.
En premier parce que les banques européennes possèdent beaucoup de la dette des pays européens et les difficultés de ces pays à se financer fragilisent les créances des banques.
En second parce que les banques elles-mêmes, lorsqu’elles cherchent à se refinancer sur les marchés financiers et trouvent en concurrence étroite avec les pays européens avides de cash.
Banques européennes contre Pays européens ; Chine qui rachète massivement la dette les pays européens ; Américains qui rigolent en voyant remonter Wall Street et le Dollar, les vœux de Bruxelles sont amers pour cette Nouvelle Année !
Olivier Chazoule
Europe is financial balances to sell?
After China has released early years of ownership than 7% of European public debt, the Wall Street Journal revealed today that the open markets in the world nervously awaiting the public auction Treasury bills of the main European countries
They are even more the 17 countries of the Euro Group, which are covered but the 27-30 European Union countries. Estonia, which joined the 16 countries of the Euro Group a few days ago had been offered the award as a benefit and condescended condescending by other members. In fact it is a country sick Finance (Estonia) who enters a beleaguered financial group (the 16 countries of the Euro Group).
Thomson Reuters for its part recounts in detail the pressure from Europe on Portugal to accept that this country ... to borrow from Europe and the International Monetary Fund in order to ensure that Europe does not suffer financially Bankruptcy Portugal, as was the case in Ireland two months ago. In other words: "you into debt with us urgently so we can go to international markets and that they lend us our money that we will lend you and also some hundreds of billions of Euros for our own abysmal deficits.
If rationality financial sense this is probably not the place to look for it.
Last week Wall Street was up and European stock markets down simply because the weak U.S. economic growth was in contrast with the relative absence of good economic news in Europe. This means that Europe is so bleak that the semi-good news the U.S. make unhappy. The euro has lost 3.4% against the dollar last week, even more against other currencies like the Swiss Franc.
European banks are doubly distressed by this latest situation.
First, because European banks have a lot of debt in European countries and the difficulties of these countries to finance weaken banks' claims.
Secondly because the banks themselves, when seeking to refinance the financial markets and are in close competition with European countries eager to cash.
European banks against European countries, China, which buys massive debt-European countries; Americans laugh at the sight back Wall Street and the Dollar, the wishes of Brussels are bitter for this New Year!
Olivier Chazoule
After China has released early years of ownership than 7% of European public debt, the Wall Street Journal revealed today that the open markets in the world nervously awaiting the public auction Treasury bills of the main European countries
They are even more the 17 countries of the Euro Group, which are covered but the 27-30 European Union countries. Estonia, which joined the 16 countries of the Euro Group a few days ago had been offered the award as a benefit and condescended condescending by other members. In fact it is a country sick Finance (Estonia) who enters a beleaguered financial group (the 16 countries of the Euro Group).
Thomson Reuters for its part recounts in detail the pressure from Europe on Portugal to accept that this country ... to borrow from Europe and the International Monetary Fund in order to ensure that Europe does not suffer financially Bankruptcy Portugal, as was the case in Ireland two months ago. In other words: "you into debt with us urgently so we can go to international markets and that they lend us our money that we will lend you and also some hundreds of billions of Euros for our own abysmal deficits.
If rationality financial sense this is probably not the place to look for it.
Last week Wall Street was up and European stock markets down simply because the weak U.S. economic growth was in contrast with the relative absence of good economic news in Europe. This means that Europe is so bleak that the semi-good news the U.S. make unhappy. The euro has lost 3.4% against the dollar last week, even more against other currencies like the Swiss Franc.
European banks are doubly distressed by this latest situation.
First, because European banks have a lot of debt in European countries and the difficulties of these countries to finance weaken banks' claims.
Secondly because the banks themselves, when seeking to refinance the financial markets and are in close competition with European countries eager to cash.
European banks against European countries, China, which buys massive debt-European countries; Americans laugh at the sight back Wall Street and the Dollar, the wishes of Brussels are bitter for this New Year!
Olivier Chazoule
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