Europe Today (Sunday) BMO

M

mgookin

By today I mean Sunday Oct 5, 2008 as I write this.

As of the close on Friday, the word on the street was "Europe has to get together and come up with something before markets open Sunday night."

Reading wires I'm finding where some countries have each done some things, but I don't see anything collectively for the EU as a whole.

Does anyone know what to expect when?

Or are we just getting where country A does this and country B does that?

thanks.
 
eu may cut rates soon, maybe even this week if things get bad enough, trichet hinted at it when he last spoke so he will do it and bernanke may cut rates at the exact same time as trichet for added punch
 
Quote from staffpro:

eu may cut rates soon, maybe even this week if things get bad enough, trichet hinted at it when he last spoke so he will do it and bernanke may cut rates at the exact same time as trichet for added punch
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WHAT? What about inflation???
 
Quote from mgookin:

By today I mean Sunday Oct 5, 2008 as I write this.

As of the close on Friday, the word on the street was "Europe has to get together and come up with something before markets open Sunday night."

Reading wires I'm finding where some countries have each done some things, but I don't see anything collectively for the EU as a whole.

Does anyone know what to expect when?

Or are we just getting where country A does this and country B does that?

thanks.
More...

You should differentiate between EU and Eurozone. It has been said that collectively nothing will happen, every state for itself.
 
Quote from d08:

You should differentiate between EU and Eurozone. It has been said that collectively nothing will happen, every state for itself.
More...

I agree that it was said "There is no United States of Europe" which implied they lacked the capacity to do what US is doing, but I thought I heard late Friday that there was going to be a coordinated effort among European states to "rescue Europe" before markets open Sunday.
 
Quote from staffpro:

eu may cut rates soon, maybe even this week if things get bad enough, trichet hinted at it when he last spoke so he will do it and bernanke may cut rates at the exact same time as trichet for added punch
More...

More reading (from a single source, I'm lazy today)

http://www.france24.com/en/20081002-ecb-style-bailout-plan-europe-paris-trichet

http://www.france24.com/en/20081005-german-bank-rescue-failure-clouds-european-united-front-0

http://www.france24.com/en/20081005-german-guarantees-savings-merkel-pushes-bank-rescue-0

http://www.france24.com/20081003-economic-forecast-recession-france-crisis-woerth-lagarde
 
those guilty of living and spending on credit face the consequences of such
fiscal management - or lack of it
the US in particular and the UK are both having to 'eat it' credit wise while
countries such as Japan and France who only spend what's in their savings
account don't have the problem
Spain's collapsed realestate market was mainly one based in large part on
UK buyers who have now disappeared, similar to US in that there were Many
new homes built
in March this year the Purchasing Power Parity of the Krone was 70 and
the Euro 30 - see link - they've now dropped to 59 and 19 respectively so
the monetary inflation threat is falling but
all stock markets are falling and the US credit fiasco will take several years
to work through portending a World recession or depression and lowering
already low interest rates will change little, so it's a moot point what individual
countries will do, everyone will suffer
what's of interest is if in November the $ reverses and falls to new lows
http://fx.sauder.ubc.ca/PPP.html
 
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