If they want to keep this recognition the EU needs to issue a Euro-wide “new deal”, focusing on the periphery.

If the contrarians buying Greek bonds are right, their trade is also inferring Europe will not pose a systemic risk to the financial system.

Such a crazy imbalance in Europe.

411Billion euros were deposited at the ECB last night. The banks were paying for their money to be there.

I guess the banks, themselves, still fear a disorderly bank bankruptcy. Unless there is another motive to basically hand over the ECB free money.

Looks like someone (or group) has fiercely taken on the EU carry trade. Spanish short-term yield are down sharply.

If I could borrow at 1% and get 5-6% in 3-6months, I would. Obviously I’m not alone in this thought.

One data point does not make a trend, but with the decline of the Euro we may see the PMI stabilize and trend upward from here.

I feel we will see more of these stealth bank nationalizations.

As soon as the author described the transfer of money in 1873 as being “light speed”, he lost me and his argument.

This seems like an interesting idea to provide some desperately needed stability in the EU.