Tag Archives: The Telegraph UK

Philip Aldrick And Robert Winnett – The Telegraph UK – Europe Poised For Bail-Out Amid Warning Of ‘Lehman Re-Run’ – 20 June 2012

(Stephen Cook: Yep, that is the newspaper’s headline. But if you read further into this story you’ll see  a ‘Robin Hood’-style rescue package is now being suggested; in this case, where the richer countries come to the aid of the poorer ones in an attempt to even things out. Sounds like a far more balanced approach as we proceed through today’s Solstice… still not ‘debt forgiveness’ but certainly edging closer… I hope.)

Debt crisis: Prepare for Lehmans re-run, UK Bank official warns, as leaders poised to bail out Spain and Italy

European leaders are poised to use two rescue funds to buy Spanish and Italian debts in a £600bn bail-out, as a Bank of England policy maker tells traders to prepare for a devastating market seizure like that seen as the collapse of Lehman Brothers.

Cheap and ready access to the liquid assets that oil the financial markets are under threat from both state-imposed capital controls and flagging confidence in the euro, said Robert Jenkins, a member of the Bank’s Financial Policy Committee.

Read the whole story at : http://www.the2012scenario.com link to article / http://www.telegraph.co.uk link to original article

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Richard Blackden – The Telegraph – America Will Soon Need To Take Advice It Offers Europe – 15 June 2012

Timothy Geithner Photo: AFP

It should not have been a surprise that US Treasury Secretary Timothy Geithner veered between fits of laughter and a tone of chilling gravity when he spoke to the Council on Foreign Relations in Washington this week. Continue reading

Ambrose Evans-Pritchard – The Telegraph UK – Debt Crisis : Europe’s Democracies Must Not Subcontract Their Destiny To The Bundesbank 13 June 2012

Europe has lit the fuse on an economic and financial bomb. The rescue package for Spain cannot plausibly be contained to €100bn once it begins, given the subordination of private creditors and collapse of global confidence in the governing structure of monetary union. Continue reading

Ambrose Evans-Pritchard – Germany’s Carthaginian Terms For Greece – 12 February 2012

The last time Germany needed a bail-out from world creditors, it secured better terms than shattered Greece last week.

 

Germany's Carthaginian terms for Greece

The austerity policy being forced on Greece by Germany and the eurozone cannot command democratic consent over time.

 

 

The US, Canada, Britain, France, Greece, and other signatories at the London Debt Agreement of 1953 granted Chancellor Konrad Adenauer a 50pc haircut on all German debt, worth 70pc in relief with stretched maturities. There was a five-year moratorium on interest payments. Continue reading