Tag Archives: Portugal
We Are Running Out Of Lipstick To Put On These PIIGS
The phrase ‘putting lipstick on a pig’ has been used in financial circles for years and it is a phrase that I have used to describe the European debt crisis and the countless attempts by its leaders to convince us … Continue reading
Greek Default: The Real Danger Lies With Derivatives Not Just Total Debt
Greece’s total debt of €340 billion (£303 billion) is well documented, as is the fact that the nation’s bailout is really a bailout of the European banks that are holding the debt. What’s not well known is that a default … Continue reading
Greece: The Certainty of Default and the Risk of a PIG Contagion
When Greece defaults holders of its debt are certain to take a haircut. The real risk however is that other PIG countries will follow them. Greece may only represent 0.48% of global GDP but its total debt is a staggering … Continue reading
The case for going long the dollar & short the Euro
The guardian of the single currency, the European Central Bank (ECB), has been taking on more and more bad debts from its failing member states – a situation that looks increasingly bearish for the single currency. Meanwhile a rally in … Continue reading
Global Banking Crisis: We’ve Got At Most 2-3 Years Before The Wheels Come Off In Spectacular Fashion
The European sovereign debt crisis is really a European banking crisis, and by extension a global banking crisis, and so serious is the threat of a global banking collapse that the ECB has resorted to borrowing money from the Fed … Continue reading →