LA BUXIA CA SCONDE LA STANPA ITALIANA

Written by on 27/12/2011 in Economia - No comments
Mario Monti_Monti Mario_MARIO MONTI_ MONTI MARIO_PRESIDENTE_CONSIGLIO_italia_italy_president_rome_parliament_politics_italian_republic_lazio_europe

 

Ve riportemo on artigolo pena piovegà sol Financial time. La situasiòn la xé de na gravità estrema, fra ancò e xòba ghe sarà na asta de 20 mila milioni de bot taliani. I intaresi i xe oltre el ponto de no ritorno (+7%). La asta la xé drìo ndàr dexerta e la borsa d emilàn la xé drìo crolàr. I jornali parla de putanade, le solite notisie de cronaga, le feste i funerali de on jornalista de la casta, el balon trucà e monade vàrie. Tùto pa no parlàr (sensuràr) de la vera notisia. Tuti in vacansa: santo natale, serenità, siamo tutti italiani, la messa del pàpa, telethon e troijà de sto tìpo le xè drìo indormensàr el pòpolo, ma sòto le bronse le xé drìo infogàrse e el patatrack drìo rivàr. El mondo finansiario el ga xà dà el so vòto, i bot taliàni i xé scoàse. Monti Mario, parte co naltra manovra de violensa fiscàl dòpo l’asta de bot, in sto mòdo el sa racoanto inculàr al popolo. Xé tùto sureàl, xe tùto infàme. no solo l’ici so la càxa, ma anca le rivalutasiòn catastàl inte on momento ca no se vende gninte e le càxe le xé crolà. Sémo a la folìa, la clase politega, tute le càste i ga perdesto el senso de la realtà e i varda sòlo fa tiràr su schei sensa pensàr a le consegoense. la barca afonda e el capitàn taliàn invese de jutar salvarse, el ròba i schei da la casaforte de bordo.

Ribelemose, no stemo pagàr, semo naltri el poder, a la violensa fiscàl se risponde fa Robin Hood. Basta italia basta pagàr.

Eco cosa ca a xe drìo ocorar:

Markets braced for Italy debt auction

By Richard Milne, Capital Markets Editor

Italy’s benchmark borrowing costs rose above the critical 7 per cent level again in a week that will see Rome auction up to €20bn of debt.

The bond issues today and on Thursday are the first big market test following the launch of three-year loans for banks by the European Central Bank just before Christmas.

Italy, the world’s third-largest bond market, is seen by many investors as the barometer for the eurozone debt crisis and faces a crucial opening to the year with auctions of more than €100bn in the first quarter alone.

Italy will auction €9bn of six-month bills and up to €2.5bn of two-year zero-coupon bonds today. Tomorrow sees €5bn-€8bn of three-year, seven-year and 10-year bonds come up for sale.

Ahead of the auction, Italy’s benchmark 10-year bond yields inched above 7 per cent in thin trading. Borrowing costs of more than 7 per cent are viewed by analysts and investors as unsustainable; similar yields have forced Greece, Ireland and Portugal into international bail-outs.

But some European politicians, led by French president Nicolas Sarkozy, have seized on the move by the ECB to offer three-year loans as a way for banks to support governments. In what some are calling the “Sarkozy trade”, banks can borrow from the ECB at 1 per cent and then theoretically reinvest the money at 6 or 7 per cent in Italian government bonds.

Strong demand at an auction of Spanish government bills just before European banks tapped the ECB was attributed to banks stocking up on collateral to use for the loans.

But outside of banks in Italy and Spain, the two countries at the heart of the crisis, analysts have been sceptical about how many financial institutions would take part in the trade. Many European banks such as BNP Paribas and Deutsche Bank have made a big show recently of how much they have reduced their exposure to Italian and other peripheral eurozone government bonds.

Analysts also point to the fate of MF Global, the US broker that went bankrupt in October after placing big bets on Italian and Spanish bonds, as a reason why banks might shy away from stocking up again on government debt.

Italy’s borrowing costs have begun to diverge away from Spain’s in recent weeks. Spain’s 10-year yields fell 3 basis points on Tuesday to 5.35 per cent while Italy’s rose 5bp to 7.03 per cent, according to Bloomberg data.

Investors turned on Italy in part because of its large debt burden of €1.9tn, but also due to the slowness of reforms under former prime minister Silvio Berlusconi.

But a new, unelected technocratic government under Mario Monti has failed to stem the rise in Italian borrowing costs as investors fret about the €350bn Rome needs to raise in 2012 – meaning it faces almost daily auctions, making it a potential hostage to any volatility in the markets.

 

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