EUROGROUP PRESIDENT SPOOKS MARKETS: Says Cyprus Deal Is A Template For The Rest Of The Euro Area
Today, in an interview with Reuters and the Financial Times, Dutch Finance Minister and President of the Eurogroup of euro zone finance ministers Jeroen Dijsselbloem said that the Cyprus deal will serve as a template for future bank restructurings in the euro zone.
Faisal Islam@faisalislam4 min
Farmer Dijsselbloem reapeth what he sows. Never served on €group. Became President. last weekend, passed solution ‘violating EU principles’
Faisal Islam@faisalislam9 min
Dutch farming econ currently running Eurogroup, who passed solution “incompatible with EU principles ” says Cyprus solution “template” for €
Unicredit, Intesa halted too. Must be all those people lining up to deposit cash
Banco Poplare halted, limit down. Need Moar Bailoutz
Luckily, there are no deposits over EUR100,000 at Unicredit, Intesa and Banco Popolare
EURO IN FREE FALL!
FTSE MIB /quotes/zigman/1482176 15,751 -302 1.88%
IBEX 35 /quotes/zigman/2759620 8,268 -62 0.74%
European Markets Sliding (Fast)
FX, bond, and stock markets in Europe are not happy. As the EURRUB sees it biggest drop this year (Ruble buying), it appears whatever confidence-inspiring Dijsselblom believed in last night has faded rapidly as Italian and Spanish stocks plunge to the lows of last week (after opening gap higher). Italian and Spanish bank stocks are on-and-off halted. EURUSD is getting hammered. Italian and Spanish bond spreads are blowing wider from gap tighter openings. This is not good… The reason appears to be:
- Cyprus a Template For EU, Reuters Says, Cites Dijsselblom
- *BANCO POPOLARE SHRS HALTED AFTER FALLING 4.84% IN MILAN :BP IM
- *TELECOM ITALIA SHRS HALTED AFTER FALLING 3.81% IN MILAN :TIT IM
- *INTESA SHRS HALTED AFTER FALLING 5.72% IN MILAN :ISP IM, BP IM
- *MEDIOBANCA SHRS HALTED AFTER FALLING 3.95% IN MILAN :MB IM
- *MEDIASET, FINMECCANICA, UBI SHRS SUSPENDED IN MILAN LIMIT DOWN
Eurogroup head: Cyprus deal template for banks
A Word Out Of Place Sends Europe Tumbling
And the Italian downgrade rumor is back. No, it was D-Boom’s fault, not some rumor
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