Tag Archives: France

  • Insider
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    Where Will the Minsky Moment Occur?

    Which country will start the next crisis?
    by Alasdair Macleod

    Tuesday, June 25, 2013, 9:36 PM


    Executive Summary

    • Spain: after tens of €billions in bailouts, its banks still need more
    • Germany: its largest banks are ridiculously levered
    • France: its banks are deteriorating fast with the sinking French economy
    • UK: bail-ins are now on the table

    If you have not yet read Part I: Europe's Precarious Banks Will Determine the Future available free to all readers, please click here to read it first.

    Spain and Bankia

    The true state of the Spanish economy (i.e., it is in depression) should be uppermost in our minds when we consider recent developments at Bankia, the Spanish mortgage bank formed only thirty months ago out of the wreckage of Spain’s regional mortgage banks. Bankia underwent a subsequent bail-out only a year ago and has been a continuing disaster, as shown by the share price in the chart below.

    Having fallen from an adjusted €106 to only 68 cents as recently as last November, the share price tells us that Bankia is simply bust. The new G20 bail-in rules cannot have helped Bankia hold on to its deposits; the only deposits left should be those of the small depositors prepared to rely on government insurance.

    The Cyprus bail-in precedent has undoubtedly made Bankia’s position worse than it would otherwise be. At March 31st Bankia…

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  • Daily Digest
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    Daily Digest 6/11 – The Logic Of The Surveillance State, The Myth Of Executive Accountability

    by DailyDigest

    Tuesday, June 11, 2013, 2:43 PM

    • The Logic of the Surveillance State
    • Damage Control Time: National Intelligence Releases PRISM "Facts"
    • Social Security: The New Deal’s Fiscal Ponzi
    • France Prohibits Sending Currency, “Coins And Precious Metals” By Mail
    • Silver Cycles: What Next?
    • The myth of executive accountability
    • Driving Factors Behind Improvements in Water and Energy Production
    • Farm Equipment That Runs on Oats

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  • Daily Digest
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    Daily Digest 5/7 – France’s Budget Gap Widens, Australia Faces Decade Of Debt

    by saxplayer00o1

    Wednesday, May 8, 2013, 2:03 PM

    • Unemployment haunts Social Security recipients
    • Spanish Banks Refinanced, Restructured $272.4 Billion in Loans
    • Australia faces decade of debt, economists warn
    • France's budget gap widens in March
    • L.A. city employees urge leaders to go after uncollected fees, taxes to balance $7.7B budget
    • Copper theft epidemic has lawmakers looking for answers
    • Wall Street sees Fed buying $1.25 trillion of assets in stimulus: Reuters poll
    • India's cheap food plans to prove costly for government
    • French Industrial Output Drops as Hollande Aims to Revive Growth
    • Wichita school district counts record number of homeless children
    • Greenspan-Era Faith in Fed Seen With Bernanke: Chart of the Day
    • Many Americans say they can't retire until their 70s or 80s
    • Bankers Warn Fed of Farm, Student Loan Bubbles Echoing Subprime
    • Australian Central Bank Cuts Key Rate to Historic Low
    • New red light camera law could raise cost of appeals
    • Moody’s Says Cities View ‘Strategic Default’ as Less Taboo

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  • Daily Digest
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    Daily Digest 4/10 – Americans Skipping Meds To Save Money, Italians’ Spending Power Crumbles

    by saxplayer00o1

    Wednesday, April 10, 2013, 3:14 PM

    • Blue Angels Grounded by Budget Cuts for Rest of 2013
    • Cyprus Faces Risk of Payments Freeeze, Budget Shortfall Looms
    • Arizona gold bill moving forward
    • Five million households in debt to energy firms
    • Fitch Cuts China Yuan Debt Rating on Local Government Borrowing
    • French economy stalls as budget deficit grows
    • Stately Detroit Homes Rot As Appraisals Stall Sales
    • US homeless numbers expected to rise as spending cuts deepen
    • Italians' spending power crumbles in recession
    • Bass Says Japan Bondholders’ Reaction to Stimulus Telling
    • Interest on government student loans set to double this summer
    • Americans Skipping Prescription Meds To Save Money

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  • Daily Digest
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    Daily Digest 3/29 – Cyprus Banks Reopen, U.S. Army Fights Brain Drain

    by DailyDigest

    Friday, March 29, 2013, 4:46 PM

    • It’s head for “the mattresses” time for savers worldwide
    • Cyprus banks reopen amid tight security and tough curbs
    • Cyprus – The Answer Is Uniastrum
    • Hundreds Of Armed Vigilantes Seize Mexican Town, Arrest Local Police
    • After court rules Hollande he can’t put 75% tax on salaries, French President vows to hit companies directly
    • Les misérables: Despite welfare state and wine, unhappiness reigns in France
    • Hollowed out: US Army fights brain drain
    • Highest paid banker on Wall Street suing renovators of neighbouring building for ruining view from his 360-degree glass penthouse 
    • Should airlines start charging passengers by the pound?
    • More Scientific Evidence Linking Fracking and Earthquakes
    • Money for aquaculture, but not wild salmon, critics note

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  • Daily Digest
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    Daily Digest 3/22 – Eating On The Poverty Line, Will Cyprus Go The South American Way?

    by DailyDigest

    Friday, March 22, 2013, 4:53 PM

    • Le Monde Headline "No, France is Not Bankrupt"
    • Will Cyprus go the South American way?
    • US Begins Regulating BitCoin, Will Apply "Money Laundering" Rules To Virtual Transactions
    • Shopping on the poverty line – what can you eat?
    • Indonesia's wage wars
    • What You Think Is True Might Be False and Costly
    • Michael McKay: 'We're On The Verge Of Being Mugged By Our Governments'
    • Why Renewable Energy is so Attractive to Google
    • With a Big If, Science Panel Finds Deep Cuts Possible in Auto Emissions and Oil Use
    • Petroleum Use, Greenhouse Gas Emissions of Automobiles Could Drop 80 Percent by 2050; Efficiency, Alternative Fuels, and Strong Government Policies Will Be Needed

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  • Daily Digest
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    Daily Digest 3/20 – Workers Saving Too Little to Retire, Lawmakers Back PMs As Currency

    by saxplayer00o1

    Wednesday, March 20, 2013, 2:39 PM

    • Workers Saving Too Little to Retire
    • Bad debts at Italian banks top 126 bln euros in January
    • Spanish Lenders’ Bad-Loan Ratio Resumed Increase in January
    • Darling: Cyprus savings raid could trigger bank runs across Europe
    • France, Belgium told to count Dexia bailout in deficits
    • Lawmakers back gold, silver as currency
    • National student loan debt triples, Miami average fifth highest in Ohio
    • As crop prices surge, investment firms, farmers vie for land
    • Speed on green cameras paying off
    • Cyprus parliament rejects deposit levy: reports
    • PIMCO reduces exposure to euro in wake of ‘botched’ Cyprus bailout: report
    • National debt jumps $300 billion ytd

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  • Daily Digest
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    Daily Digest 3/19 – Detroit And Cyprus Offer Budget Lessons, Is The “Buy to Rent” Party Over?

    by DailyDigest

    Tuesday, March 19, 2013, 4:06 PM

    • Should We Own Our Washing Machines?
    • S&P warns of ‘socially explosive’ situation in Spain, Italy and France
    • China's Gold Reserves: Watch What They Do, Not What They Say
    • Hudak’s PC party would revamp Ontario pensions by raising retirement age
    • Culture shock for Amazon chief's son who left rainforest for New York
    • Is The "Buy to Rent" Party Over?
    • Matt Gurney: Want your education paid for? Take something useful
    • Detroit and Cyprus offer debt lessons for budget
    • Silver and Gold Purchases: Domestic and Offshore Storage
    • Tanker rout reversing as U.S. buys more Middle East oil
    • China's Suntech Power in $541m debt default
    • Russia, Saudi Arabia hope to emulate U.S. shale boom
    • Coal Is the Fuel of the Past and the Future
    • Lockheed slashes energy required to desalinate water
    • Pentagon weapons-maker finds method for cheap, clean water
    • Mike Holmes: Water makes the world go around

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  • Daily Digest
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    Daily Digest 3/13 – U.K. Faces Growing Vulnerability, German Bank Doubles Reserves

    by saxplayer00o1

    Wednesday, March 13, 2013, 1:18 PM

    • Spain unveils $4.6-billion plan to get young back to work
    • Portugal in worst recession in 37 years
    • Duty hike on gold expected to reduce imports: Minister
    • France's Francois Hollande admits to miss deficit target
    • Students Rally Against Proposed Tuition Hike
    • Military tuition assistance another casualty of the sequester
    • Abe’s Weak Yen Policy Erodes Japanese Tourist Spending in Korea
    • Local Lawmakers Lead Fight To Ban Traffic Cameras in Ohio
    • German Central Bank Doubles Reserves
    • U.K. Faces Growing Vulnerability

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  • Daily Digest
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    Daily Digest 3/6 – Wall St Selling Junk Bonds At Record Pace, College Could Cost $300k In 10 Years

    by saxplayer00o1

    Wednesday, March 6, 2013, 3:47 PM

    • The Greek Catastrophe: Three Generations of Greek Workers
    • Public authorities rack up nearly $250 billion in debt
    • European Shares at Multi-Year Highs on Stimulus Hopes
    • Analysis – Older French face slow squeeze in pension reform
    • U.S. Tells G-7 to Avoid Currency Intervention Except Rare Cases
    • China's Ghost Towns: Deserted Cities Raise Fears of Debt Crisis
    • Food banks are thriving, much to the government's embarrassment
    • Egypt’s fuel shortages demonstrate perfect storm of economic pressures
    • Revealed: The shocking true scale of food poverty 
    • Report: Record 50,000 homeless now in NYC
    • Images of Japan's barren tsunami coast 2 years on
    • College could cost over $300k in 10 years
    • Wall Street selling junk bonds at record pace
    • Why America's middle class is losing ground
    • Gross Says Yen to Weaken to 100 Per Dollar on QE Concern

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