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Category Archives: PIIGS
Happy St. Patrick’s (Maweyn Succat) Day!
In case you’re wondering, Maweyn Succat was St. Patrick’s real name and he wasn’t even Irish!. Click here for some great background and history of St. Patrick’s Day. Go Paddy, Rory, Graeme, and Darren! Happy St. Patrick’s Day! Not … Continue reading
Posted in Bonds, General Interest, Picture of the Day, PIIGS
Tagged bonds, Darren Clarke, Grame McDowell, History of St. Partrick, Ireland, Paddy Harrington, Rory Mciiroy
2 Comments
Euro Fracture: Cradle of Civilization Headed for Revolution?
Interesting interview with British MEP, Paul Nuttal. He worries about political instability spreading in the Eurozone and raises the notion of a harder euro for the northern countries. We believe the best case, at the end of the day, … Continue reading
Posted in Black Swan Watch, Euro, PIIGS, Politics, Sovereign Debt, Sovereign Risk
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Greece CDS Exposure
Nice chart from Ambrose Evans-Pritchard’s Telegraph piece. One would expect a relatively small first order effect if Greek CDS’ are triggered. The second order effects, such as contagion and the ding to market confidence are much more difficult to quantify … Continue reading
Posted in Black Swan Watch, Bonds, Euro, PIIGS
Tagged Greece Bond Swap, Greece CDS Exposure
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Greek debt swap deadline looms
This is one of the biggest risks to the markets. Things could get ugly and if it falls apart due to an abundance of free riders and/or too many vultures holding out for full payment, head for the bunker. Stay … Continue reading
Posted in Black Swan Watch, Hedge Funds, PIIGS, Sovereign Debt, Video
Tagged Debt Swap, Greece, PSI
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Euro banks tap LTRO2
(click here if video is not observable)
Posted in Black Swan Watch, Euro, Monetary Policy, PIIGS
Tagged ECB, European Banks, LTRO2, Monetary Policy
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Quote of the Day: The New Americans of Europe
Here’s the pretext for our QOTD, The German parliament is set to approve a new multibillion euro bailout package for Greece on Monday, but instead of thanks, southern Europeans are expressing their dislike of us. Germans will have to get … Continue reading
Posted in Black Swan Watch, Euro, PIIGS, Quotes, Sovereign Debt, Sovereign Risk
Tagged Americans of Europe, Der Spiegel, Jan Fleischhauer
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IMF Still Sees Risk in Greece
(click here if video is not observable)
Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk
Tagged Greece, Greek Economy, IMF
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Euro Fracture: Greeks Urged to Boycott German Products
Keep this on your radar. Ugly politics heighten deal risk. (click here if video is not observable)
Posted in Black Swan Watch, Euro, Geopolitical, PIIGS, Sovereign Debt, Sovereign Risk
Tagged Europe Politica Tensions, Germany, Greece
1 Comment
Greek Credit Writedown! Finally…
The just announced 2GB — Second Greece Bailout — is a misnomer. We wouldn’t exactly call a deal where private creditors reschedule all maturing bond payments for the next ten or so years into a 30-year bullet with a 50+ … Continue reading
Posted in Black Swan Watch, Bonds, PIIGS, Sovereign Debt, Sovereign Risk
Tagged Greece, Sovereign Debt Restructuring
1 Comment
Global Macro Monitor 