Le point sur l'Europe

Le 10 ans espagnol est en passe de rebattre des records :


Le bailout n'aura servi à rien, voire aura été contreproductif...



Fitch avertit que l'Espagne va manquer sa cible de déficit public de très loin :

Fitch Managing Director Says Spain Will Miss Budget-Deficit Targets By "Substantial Margin"; Yields in Spain and Italy Soar; Spanish 10-Year Yield Hits Record High 6.83%

Mish's Global Economic Trend Analysis, Mike Shedlock, 12/06/2012 (traduire en Français  )

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Fitch Managing Director Ed Parker said Spanish Prime Minister Mariano Rajoy will miss budget-deficit targets this year “by a substantial margin.” according to a Bloomberg report.

Merkel tient bon la ligne et refuse de faire de son peuple les esclaves de l'europe du Sud :

Spanish Bond Yields Hit 2012 Highs As Merkel Dismisses Eurobonds

ZeroHedge, 12/06/2012 (traduire en Français  )

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Spanish bond yields have leaked slowly higher all day but the very recent news from Merkel, talking on the G-20, that:

• *MERKEL SAYS WRONG TIME TO DISCUSS POSSIBILITY OF EURO BONDS
• *MERKEL SAYS STATES MUST GIVE UP SOME SOVEREIGNTY TO EU
• *MERKEL SAYS JOINT LIABILITIES IN EUROPE REQUIRE JOINT CONTROLS
• *MERKEL SAYS INVESTORS' INTEREST NOT IDENTICAL WITH EUROPE'S (Subordination?)

has pushed Spanish CDS and bonds to they highest closing levels for the year and just shy of intraday post-EU record wides.

L'opposition à l'euro et à l'Europe monte partout en Europe :

Euro-Fatigue Storm Rising

ZeroHedge, 12/06/2012 (traduire en Français  )

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Many countries have seen the emergence of nationalist parties but only France, Italy, and Greece have parties advocating EMU withdrawal (for now).

Le bank run grec se poursuit :

Greek Bank Run Update: €100-€500 Million Per Day

ZeroHedge, 12/06/2012 (traduire en Français  )

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Deposits are leaving the banking system at a rate of 100 million to 500 million euros ($125 million to $625 million) a day, Kathimerini said, without specifying over how long a period that rate of outflow has continued.