…Calmly observing the changing world

When you are a small nation in the Alps and the currency of the countries around you is – how shall we say – in jeopardy, you might think you’d take some pride in your homeland.  You might think they’d pat themselves on the back for staying out of the Eurozone, and successfully forging their [...]

“Germany cannot keep paying for bail-outs without going bankrupt itself,” said Professor Wilhelm Hankel, of Frankfurt University. Daily Telegraph (Ottowa Citizen) Well, I guess we’ll find out.  Despite significant opposition from the actual citizens of Germany, the bailouts seem unlikely to stop for the time being.  You see, the bailout-proponents wisely set aside a lump [...]

These days, investors are being diligent to try to find a solid investment.  Well, so much for that – but if you can’t beat ‘em, join ‘em.  So, for the non-small investor, one of the closest things to a sure bet would seem to be shorting Greek bonds. The government has never shown restraint.  The [...]

It’s both heartening and unsettling to see one of MarkOnMarket’s key issues come to its initial fruition.  Greek bonds – never the bedrock of stability – have finally been shown to be worth just about nothing.  Interest rates soared passed double digits after S&P belatedly rated the bonds as “junk” which caused a wave of [...]

As surely as the dollar seems doomed to decline in status, one might assume that the Euro would be preparing to take its place. And while some in Europe would love for this to happen, the problem with the Euro is simply that it’s impossible to set a European-wide policy that works for the various [...]

We’ve been watching Greece teeter on the brink for what now seems like an eternity. In another trend, we’ve been watching Fitch attempt to get tough with its ratings, in an effort to brand itself as the good rating agency. Both trends continued today, as Fitch downgraded Greece’s debt rating to BBB+. The Hellenic Republic [...]

Just a quick post detailing the relentlessly rising spread among Euro-denominated bonds. I believe this is an extremely important development and I hope to have a new sidebar with this information soon.  For a previous look at the situation, see Greek Ire. Remember, all of these European nations are selling bonds in Euros. The only [...]

If troubles in Iceland reveal our civilization fraying a bit around the edges, the Greek uprisings do the same with a slightly more ominous overtone. While the Icelanders have kept their cool even while protesting their government, the Greeks are given to a little more passion. Today, Athens is no longer a pillar of our [...]