Tag Archives: Euroblown : ClubMed Money Stampedes Northwards As French Lay Plans To Cut The Bond Market’s Throat

John Ward – Euroblown : ClubMed Money Stampedes Northwards As French Lay Plans To Cut The Bond Market’s Throat – 16 April

Capital flight from the eurozone is accelerating at an alarming rate. But the real figure to look at is that for money heading north within the zone. It is absolutely unprecedented. In March 2012 alone, some 65 billion euros left Spain for other euro- zone countries. In the seven months through February, the relevant debts of the central banks of Spain and Italy increased by 155 billion euros and 180 billion euros, respectively. While during that time-frame, the central banks of Germany, the Netherlands and Luxembourg saw their corresponding credits to other euro- area central banks grow by about 360 billion euros. Continue reading