Its interesting that it appears the the EU bailout fund seems to be open to extending maturities into infinity(at least thats what Trichet was quoted saying), if thats the case then its could be that it's not really a loan but more like a fiscal transfer due the net present value of the loan declining in these extensions
Thanks for that insight GoC. After eyeballing the charts of $IBEX (Spain), $MIB (Italy) and $CAC (France), this makes a lot of sense. A series of lower highs and lower lows in these stockmarket indices since late 2009, despite the S&P 500 (and $DAX and $FTSE) going to new 52-week highs in November.
Actually there is no Trichet quote on that, I made a mistake, but I'd say this is a serious possibility now given that Ireland gotten more time and Greek has their extension. I can't possibly see them calling those loans anyway
I'm curious, is there a way to know what would have been the results of typing 'madoff ponzi' on goggle before he was found out?(essentially pre-late 2008 results)
How about trying "Bernanke" and "resign" prior to Labor Day 2010 or "Cowen" and "lynching" prior to November 2010.
both funny and sad. The last paragraph is interesting: "Several people have asked for confirmation of those Trichet quotes. I guess I need to be even more outrageous. Those quotes of Trichet were a spoof."