Mariano Rajoy, the Spanish conservative leader expected to win a general election on Sunday, has pleaded with financial markets to grant new governments âmore than half an hourâ in which to turn around their economies. On his last day of campaigning, Mr Rajoy was commenting on continued turmoil in eurozone sovereign bond markets following this weekâs increase in borrowing costs for Spain and Italy to critical levels and the forced departure of the elected leaders of both Italy and Greece. âI hope this stops,â Mr Rajoy said in an Onda Cero radio interview, urging markets to ârealise that there are elections and that the winners must be given a little room for manoeuvre that should last more than half an hourâ. http://www.ft.com/intl/cms/s/0/53781e84-11fc-11e1-a114-00144feabdc0.html#axzz1dW1SCanw Mr. Rajoy is right. "Markets" are behaving like "half an hour" is enough to solve debts of sovereign countries. Markets are not markets anymore. They are ridicuolous.
Congress won't be in session till the 13th of December... Then you have Xtmas (till the 7th in Spain)... Plus cutting everything doesn't seem to have worked anywhere else... I should have stayed in Asia :eek:
So, they've been overspending like jackasses for decades... and now when the bond vigilantes hold their feet to the fire, they want "consideration.. and time"?
welcome to the 99 percent algo driven no liquidity market providers. govt and exchange and central bank endorsed. now the volumes have dried up and the markets are wanging around they dont like it.
A great book on the subject: http://www.amazon.com/Life-Bottom-W...5055/ref=sr_1_1?ie=UTF8&qid=1321725126&sr=8-1 Even governments have turned into panhandlers now. Haha.