The Bankwatch

Tracking the consumer evolution of financial services

No-one is sleeping in Bank HQ’s tonight

The situation in Europe is deteriorating fast.  Reminder;  this matters at this blog because of the sovereign risk impact to banks who are the largest holders of Euro debt including Greece.  A default would potentially mean the 50% write down goes to 100%.  At this point, today, its hard to argue against that.  Politicians in Greece are no less delusional than American ones when it comes to the power/ impact/ influence of financial markets.

Government in Greece Teeters After Move on Referendum | NYT

Chancellor Angela Merkel of Germany and President Nicolas Sarkozy of France, apparently caught off guard by Mr. Papandreou’s call for a referendum and then by the disarray in his party, said they would hold emergency talks on Greece with euro zone leaders on Wednesday.

Written by Colin Henderson

November 1, 2011 at 19:28

Posted in Uncategorized

One Response

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  1. very nervous times ahead for everyone involved, not just the stakeholders and the shareholders……………

    how to make money

    November 2, 2011 at 12:06

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