So Fitch threatens the ECB that if the bank doesn’t buy all those toxic bonds from the bankers and bondholders who currently hold them, then Europe gets it.
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Stacy Summary: Ooooooh boy. And by the way, there is a downgrade warning in the article just for you @Mike/Liverpool.
“The first year is fiscally the easiest. Next year they have to cut another 3pc of GDP, and the following year a further 3pc,” said Chris Pryce, the agency’s Greece expert. “The great question mark is whether the Papandreou government is going to conform. There is already dissent in the cabinet,” he said.
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Stacy Summary: If this were a boxing match, the ref would have rescued the guy on the ropes from the merciless pummeling by now.
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Posted in Headlines
Tagged bank bonuses, consumer confidence, downgrade, fitch, greece, troubled banks
Rick Ackerman
Karl Denninger – Market Ticker The Big Picture Mish David Morgan King World News SmartKnowledge GoldCore Michael Krieger’s libertyblitzkrieg
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