Crise-2010-La_suite
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It is not surprising that European Union finance ministers looked ashen faced in Brussels on Tuesday. The EU faces vast costs and spiralling government debt The breakfast meeting discussed how EU governments should deal with, in other words pay for, the "toxic" banking assets that triggered the economic crisis.
EU faces 'toxic' debt spiral :: Bruno Waterfield in Brussels
With half of Europe broke, and the IMF more than ready to disburse US taxpayer funding with the largesse of Tim Geithner (is $100 billion in increased IMF aid a TurboTax recognized tax deduction?), it is no surprise that the rescue aid recipients are lining up. First up after Greece is the Ukraine, which has announced it is seeking $20 billion from the IMF according to Deputy Prime Minister Serhiy Tigipko.
Next Up On Ths US Taxpayer (IMF) Bailout Trough: Ukraine, Which
LEAP/E2020 believes that the global systemic crisis will experience a new tipping point from Spring 2010. Indeed, at that time, the public finances of the major Western countries are going to become unmanageable, as it will simultaneously become clear that new support measures for the economy are needed because of the failure of the various stimuli in 2009 (1), and that the size of budget deficits preclude any significant new expenditures.
Spring 2010 – A new tipping point of the global systemic crisis:
Les divers plans de relance ont injecté énormément de liquidités dans l’économie mondiale. Pour la plus grande joie des spéculateurs.
MARCHÉS • Une nouvelle bulle commence à gonfler | Courrier inter
Crise financière, les six étapes d'un désastre
L’agence de notation Standard & Poor’s a dégradé, mardi 27 avril, la dette souveraine grecque au rang d’obligation douteuse, et abaissé celle du Portugal. Le lendemain, l’Espagne entrait dans le collimateur – à qui le tour ? Dans les trois cas, l’agence dit fonder son appréciation sur les perspectives macroéconomique des pays concernés : une croissance faible ne leur permettrait pas d’acquitter leurs engagements.
Le massacre européen serait causé par les agences de notation, pleurnichent les politiques, désemparés.
Les Etats-Unis ne méritent pas leur notation AAA
Total PIIGS funding needs (defined as the sum of debt maturities and budget deficits) over the next 3 years amount to $2 trillion. Total PIIGS funding needs in 2010 alone amount to $600 billion.
With $2 Trillion In 3 Year Funding Needs By the PIIGS, The IMF I
Bonnet d'âne aux agences de notation
Les agences de notation au cœur des scandales financiers
Moody's et Standard & Poor's, les deux grandes agences de notation devant lesquelles se prosternent les gouvernements et les grandes entreprises, sont sur le point de vivre une décote historique.
Via Pension Pulse. Cathy Bussewitz of the Associated Press reports, California pension fund considers rate increase : Board members of California's largest public pension fund said Tuesday they are likely to take more money from the state general fund to pay employee pension benefits, a proposal that has led to criticism at a time when the state faces a $19 billion deficit.