Wednesday, May 9, 2012

It will be fine, they said...

Take a few days to deal with other things, they said...


Greece voted. Down came the government, or any hope of a reasonable new one.

France voted. Sarkozy got shown the door. Bets on further German-French cooperation on the Euro crisis just got longer.

Serbia voted. Oh boy; an ex-Greater Serbia Nationalist, supposedly pro-E.U. now.

Markets dive.

Spanish 10 year notes cross to the high side of 6%.

This does not look promising. Hope I'm wrong about that.


Mr. Bill said...

On these shores, the party better known, of the two, for deriding anything European, now wants to impose Eurozone-style austerity. Gee, I wonder how that will work out?

I don't imagine Greece will be able to pull together a coalition, considering the people have elected both hardcore communists and neo-nazis to the same ruling body.

Angela Merkel has already stated that there will be no more futzing (my word, no hers) with the European plan to keep Greece afloat. (no pun intended).

Oh, and VP Biden forced the president's hand on the subject of marriage equality. I expect POTUS was planning on coming out in favor of it, but AFTER the election.

I expect it's going to be an interesting summer & fall both economically and politically speaking.

Will said...

I fully agree with Mr Bill regarding this summer, for curse-versions of 'interesting' anyway.