Tony Alexander's BNZ Weekly Overview

Heading Downhill

For your guide here are some of the key trends underway around the planet at the moment.

The European debt crisis is getting worse in spite of new technocrat governments in Italy and Greece with highly indebted countries having to pay more to fund their deficits and roll over maturing debt, worries growing about the European banking sector, worries rising about American banks exposed to Europe, and continuing very strong unwillingness by the Germans to countenance two proposals aimed at slamming the crisis – jointly issued Eurobonds and opening the ECB printing presses. Risks lie strongly on the downside with a break-up of the Euro increasingly likely.

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