News 6.2.2011 ECB Wants More Governing Power, US Debt/Banks in Moody’s Cross Hair, Trouble In China’s Shadow Banking

June 2, 2011

Share

Commodities : S&P says Commodities Could Drop 75% on Sudden China Slowdown – bloomberg

China : Spiraling Interest Rates in China’s Shadow Market and Hong Kong’s Suddenly Shaky Banking System – marketwatch

US : Moody’s puts US Credit Rating Under Review – WSJ

US : Moody’s may cut BofA, Citi – Bloomberg

Japan : Mizuho says Japanese Debt Downgrade Inevitable – bloomberg

Europe : ECB’s Seeks new Ministry to Dictate Terms to Periphery : WSJ

“In a speech accepting the Charlemagne prize for European unity, Mr. Trichet said the “union of tomorrow” could include veto power for European institutions over national budgets, and even a common European finance ministry to shape countries’ economic policies.”

“In a speech accepting the Charlemagne prize for European unity, Mr. Trichet said the “union of tomorrow” could include veto power for European institutions over national budgets, and even a common European finance ministry to shape countries’ economic policies.”

HistorySquared

  • Earlier this year, when some pondered whether the Europe was doomed, I said “It’s not the Euro that’s doomed, it’s the sovereignty of these countries that’s doomed.” The caveat being that it would take a crises to make the change. Social unrest will need to get much worse a panic level, touching the core, which will force the fiscal unity and give more power to France and Germany.

Related Posts Plugin for WordPress, Blogger...

Popularity: 1% [?]

Share

Previous post:

Next post: