The key question is,how quickly a Euro debt agreement will actually be implemented,said David Mann,Regional Head of Research Americas at Standard Chartered.It's a huge round of detail.As long as the European Financial Stability Fund can be levered up without downgrades or extra haircuts,only then can we feel more confident and that we've turned a major corner.
We won't see a pre-crisis level of employment till 2015.It's a more vulnerable economy.It's more likely you're going to see very weak growth.If you get a major shock,it will be closer to stall speed and negative growth.
We've already seen an incredible ability to cut costs,but we need to see the National Federation of Independent Business survey turn around before we can grow confidence and exceed expectations,in Mr.Mann's view.
Founded in 1853,Standard Chartered Bank's core geographies are in Asia,Africa and the Middle East.It has five locations in the U.S. offering wholesale and private banking to corporations,institutions and affluent individuals.
Showing posts with label EFSF. Show all posts
Showing posts with label EFSF. Show all posts
Wednesday, October 26, 2011
Wednesday, September 7, 2011
Newsletter Publisher Sceptical of Euro Fund
Mark J. Grant,publisher of the "Out of the Box" newsletter,which is read daily by some 5,500 financial institutions,is sceptical of efforts to resolve the European debt crisis.It's a solvency issue for the banks,Mr.Grant said.They have 4.1 trillion dollars of debt to roll over.The response has been that we don't need to recapitalise the banks.
The European Financial Stability Fund,or EFSF,is a convoluted effort.It is virtually impossible to come up with any solution.There is not money enough to support this effort.There is not enough available to bail out Italy and Spain.
The markets are all interconnected at the international bank level.Any blow-up in Europe could have a substantial impact on the U.S. banking system.The European Union and China are manipulating the currency market,Mr.Grant believes.
Mark J. Grant is Managing Director of Corporate Syndicate and Structured Products at Southwest Securities.He has also written a highly regarded book,"Out of the Box and Onto Wall Street."
The European Financial Stability Fund,or EFSF,is a convoluted effort.It is virtually impossible to come up with any solution.There is not money enough to support this effort.There is not enough available to bail out Italy and Spain.
The markets are all interconnected at the international bank level.Any blow-up in Europe could have a substantial impact on the U.S. banking system.The European Union and China are manipulating the currency market,Mr.Grant believes.
Mark J. Grant is Managing Director of Corporate Syndicate and Structured Products at Southwest Securities.He has also written a highly regarded book,"Out of the Box and Onto Wall Street."
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