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If there is no capital restructuring plan for the affected banks, many European banks will face bankruptcy
Marinelli, the function of the banking system will also be stalled. This will also result in other peripheral countries along with the country default risk to be trapped in the dilemma of refinancing difficulties.
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European Central Bank last week announced the restart of two unconventional measures, including the purchase of secured bank debt will start again in November, will be held for the euro-zone banks for a period twice in a year or so refinancing tender .
"Many important decisions are between the euro zone leadership is discussed, but not all conditions are in their control World steel pipe network editing . Protests, such as wind and water in the region which could lead to political instability. "He said.
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He therefore considered the possibility of Greece leaving the euro zone can not be ignored. Marinelli also pointed out that some of the smaller euro area economies in fact already in recession, may also include Italy. If the recession is further spread to Germany and France, then the global economic growth will also be affected.
Marinelli believes that the European Central Bank cut interest rates did not choose, but many market participants and economists expect the ECB to choose to cut interest rates to respond to the current debt crisis, there is also hope that the European Central Bank to open the quantitative easing policy voice. He therefore considered that "the initiatives of the European Central Bank is obviously too conservative, because we are facing a special situation. The European Central Bank to do so may be out of the fears of inflation world pie network information , but on the current situation, other risks are great and a slight increase in the rate of inflation. "(Author: Zhou Jie)
Germany and France jointly tried out reassurance for the euro area banking sector, but the rating agencies still maintain pessimism. The superposition of positive and negative factors, the debt crisis in Europe will develop? The euro area economy will go from here? Asset management company Glendevon King, portfolio manager Nicolas Marinelli recently said in the interview with this reporter, the current euro zone's biggest risk is to the Greek "disorderly breach of contract".
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