Death Star Economics



Catalonia requests credit, bank regulation/reputation crisis spreads to advisors

There won’t be a news brief tomorrow, Thursday, 30 August 2012.

Spain’s indebted region of Catalonia, which currently owes €42bn, requested a €5bn emergency credit line from the Spanish government. The money will come from an emergency fund for struggling regions [i.e. Spain] worth €18bn. In conjunction with yesterday’s recession announcement this makes for another great week for not-being Spanish. read article

After ploughing through more or less all banks out there, another regulator, the Securities and Futures Commission of Hong Kong, is taking Ernst&Young to court to force the advisory to disclose information about a former client “in a test case for how far mainland secrecy laws can shield disclosure of sensitive corporate matters in the territory.” read article

Mario Monti meets Angela Merkel in Berlin today. His plan is to push for the ECB’s emergency bond purchasing program by pointing out to Merkel that bond spreads seen by the periphery can be dangerous to ze muzerland as well. read live updates

Right after the meeting Merkel and a selected few will board a plane from Germany to China to strengthen trade relations and secure future export contracts. The fun mid-week trip includes representatives of Siemens, Deutsche Bahn, SAP, Volkswagen and a number of other big German [industrial] names.

new (potentially game-changing) player has entered the stage in the Glencore-Xstrata-takeover-and-then-not situationNorges Bank Investment Management, the fund manager behind Norway’s oil-oozing sovereign wealth fund, has joined forces with Qatar, to keep Glencore from completing the merger. NBIM has bought Xstrata shares worth around $500m over recent weeks, making it the company’s fourth largest shareholder (behind Glencore, Qatar and BlackRock). read article

Otherwise, today has the revised US Q2 GDP and German CPI in stock, all of which will be announced in the [British] afternoon. WSJ estimates the former to be revised up from 1.5% to 1.7%.

So long.

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One Response

  1. princess1960 says:

    first THANK YOU
    sec i was worry why i don’t have e -mail from your side ..
    three all the information is very intristing some of tham i know but this doen’t mean i don’t need learned more.
    NOW to much theme s and i will trying to make short comment
    CHINA …i think if we leave tham to get everything from us SURE WILL DOMINATE THE WORLD AND THIS IS VERY BAD.(highe tax all the manufacture or light industry machinery industry go in CHina for much more profit) . tuch from wordl crisis ,but i like the system economic -politic they follow.
    with GV J can work very safet..
    GERMANY ..trying to keep up the bad situation economic in EUZ i don’t think this will fix
    MMonti one role (technocraty)not political and this is good for him and for IT ..(for some reason) Merkel listening to much
    I CAN NOT ACCEPT FRANCH -GERMANY make all the europe coutryes up-down.(with bad politice follow…)
    not agree with bonds euro..not agree with USEUROP for the momment we are.
    Spain ..i think will grow slowly (problem crisis ) in Spain is clear bank and market both (Spain geted one very good 000000)recapitalise bank’s so market outside (trust) road
    GOLD STANDART i read and i listening this day about all this ..a true is one resolution about the inflation but we have to see the diffrence have with the dollar and is big (NOW) can you imagination what happening with cash exchange????
    here we speek just a theory (is good) technical (is not)
    this have to see with very” seriosity”not just we have to winn election
    in the end my personal opinion for all themes
    will be so long or not …
    have a nice afternoon..

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