Rogoff: greater than 50/50 chance of further IMF programs within the EU-15

[HarshBuzz]

story here; here's a taster

"It’s more likely than not that we’ll need an IMF program in at least one more country in the euro area over the next two to three years,” Rogoff, a former IMF chief economist who has co-authored studies of financial and sovereign debt crises, said in a telephone interview. “The budget cuts needed in Europe in many countries are profound.”
[COLOR=#0000ff]Portuguese[/COLOR], Spanish and Irish bond yields jumped last week as investors questioned their ability to reduce budget deficits and avoid Greece’s fate. Greece on April 23 triggered a 45 billion-euro ($60 billion) rescue package from the IMF and the euro region after its soaring deficit sent borrowing costs surging and sparked concern about a default.
At 14.3 percent of gross domestic product, Ireland had the euro region’s largest deficit last year. Greece’s was 13.6 percent, Spain’s was 11.2 percent and Portugal’s 9.4 percent."

that really will be a corner turned .

Watch the spreads folks! Personally I don't know how we have managed to fly under the market's radar thus far.

[HarshBuzz]

footnote; our CDS spreads just breached 200 bips

that's about a one-third increase in a couple of weeks

all aboard the contagion express

[MPB]

story here; here's a taster

"It’s more likely than not that we’ll need an IMF program in at least one more country in the euro area over the next two to three years,” Rogoff, a former IMF chief economist who has co-authored studies of financial and sovereign debt crises, said in a telephone interview. “The budget cuts needed in Europe in many countries are profound.”
[COLOR=#0000ff]Portuguese[/COLOR], Spanish and Irish bond yields jumped last week as investors questioned their ability to reduce budget deficits and avoid Greece’s fate. Greece on April 23 triggered a 45 billion-euro ($60 billion) rescue package from the IMF and the euro region after its soaring deficit sent borrowing costs surging and sparked concern about a default.
At 14.3 percent of gross domestic product, Ireland had the euro region’s largest deficit last year. Greece’s was 13.6 percent, Spain’s was 11.2 percent and Portugal’s 9.4 percent."

that really will be a corner turned .

Watch the spreads folks! Personally I don't know how we have managed to fly under the market's radar thus far.

This months tax reciepts will be interesting.

[cozzy121]

Bertie's true legacy to the Irish Nation.
Make sure you tell your children about him, and maybe get them to tell theirs...

[Cassandra Syndrome]

They can all Rog off....