To bedzie wybitnie wybiorczy przeglad. Zerknalem na kilka naglowkow i prawde
mowiac dzisiaj jest wysyp takich perelek. Najpierw rewizja GDP, 5% nie 3.8%:
"WASHINGTON (MarketWatch) -- U.S. gross domestic product likely fell at a 5%
annual pace in the fourth quarter of 2008, not the 3.8% annual decline
reported two weeks ago, economists said Wednesday after the government
reported the December trade figures."
tu jest o kolejnej fatalnej aukcji bundow:
"Germany suffered a bond-auction hiccup Wednesday as investors shunned a
benchmark 10-year issue for the second time in a row.
Demand was 20% less than the EUR6 billion in debt on offer"
I wreszcie gwozdz programu, a mianowicie artykul w Telegraph na temat strat
bankow Europejskich i tajnego raportu dyskutowanego przez ministrow finansow w
EU. Nie bylaby to zadna rewelacja, gdyby nie to, ze najwyrazniej ten caly
artykul zostal blyskawicznie zdjety z wizji. Ja znalazlem go na forum i
przeczytalem ze zdumieniem, ze straty sektora bankowego w Europie sa szacowane
na 16.3 tryliona funtow, czyli 16300 miliardow funtow, czyli kwota absolutnie
astronomiczna. Artykul oryginalnie mial zupelnie inna tresc i tytul, a link
zawiera wbudowana tresc. Tak samo headline dokumentu w sieci.
Tymczasem kopia z forum ma nastepujaca tresc:
"European banks may need massive bail-out
European banks sitting on Ł16.3 trillion of toxic assets may suffer massive
losses, according to a confidential Brussels document.
By Bruno Waterfield in Brussels
Last Updated: 1:51PM GMT 11 Feb 2009
A secret 17-page paper discussed by finance ministers, including the
Chancellor Alistair Darling on Tuesday, also warned that government attempts
to buy up or underwrite such assets could plunge the European Union into a
National leaders and EU officials share fears that a second bank bail-out in
Europe will raise government borrowing at a time when investors - particularly
those who lend money to European governments - have growing doubts over the
ability of countries such as Spain, Greece, Portugal, Ireland, Italy and
Britain to pay it back.
Estimates of total expected asset write-downs suggest that the budgetary costs
actual and contingent - of asset relief could be very large both in absolute
terms and relative to GDP in member states, the EC document, seen by The Daily
"It is essential that government support through asset relief should not be on
a scale that raises concern about over-indebtedness or financing problems.
European Commission officials have estimated that impaired assets may amount
to 44pc of EU bank balance sheets. The Commission estimates that so-called
financial instruments in the trading book total Ł12.3 trillion (13.7 trillion
euros), equivalent to about 33pc of EU bank balance sheets.
In addition, so-called 'available for sale instruments' worth Ł4trillion (4.5
trillion euros), or 11pc of balance sheets, are also added by the Commission
to arrive at the headline figure of Ł16.3 trillion.
Banks account for their assets in different ways. Assets put into the trading
book have to be marked to current market values, while those in the banking
book are loans and other assets which the institution believes it can hold to
maturity. Other assets are classified as available for sale, which are also
marked to market values.
The Commission figure is significant because of the role EU officials will
play in devising rules to evaluate toxic bank assets later this month. New
moves to bail out banks will be discussed at an emergency EU summit at the end
of February. The EU is deeply worried at widening spreads on bonds sold by
different European countries.
In line with the risk, and the weak performance of some EU economies compared
to others, investors are demanding increasingly higher interest to lend to
countries such as Italy instead of Germany. Ministers and officials fear that
the process could lead to vicious spiral that threatens to tear both the euro
and the EU apart.
Such considerations are particularly important in the current context of
widening budget deficits, rising public debt levels and challenges in
sovereign bond issuance, the EC paper warned.