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But it hadn't finished, just swept under the media mattress. I thought this was obvious...

Could it be OS money wanting a better return to make up for FX risk?

It's not a possibility, it's here. Well the story goes: the ECB lent 500B EU to banks at 1% who lent around 20B to PIIGS leaving 480B to shore up cash position. Surely bonds backed by govt and taxpayers earning 6% is a pretty good deal to throw a few billion at.

Given that the EU banks are borrowing at 1%, are they the takers?

There is still another chapter here: Whilst Germany and France are telling other EU countries how bad they have been behaving, the are somehow glossing over the fact that their own banking institutions are also bankrupt. Not in case of default, but as of now. Well actually it's been since the...

And of course the US banks shafted the whole world with their AAA rated worthless garbage including small banks and countless institutions and funds all over the world whose failure would cause havoc (the ole too big to fail theory) while getting bailed out and picking up bonuses in the process...

There is a difference, and that is they already knew the borrower's situation. balance sheet, expenditures etc before they started. My point being this is not a surprise, and yeah I posted about it a few years ago. So if you lend money to a biz person who's expenses exceed his income, has...

The greek (and most PIIGS) would vote to ditch the EU and tell them to shove whatever money they are owed where the sun doesnt shine, and that those shoddy and corrupt institutions aka banks do not deserve to be paid one rusty drachma. And so there is no chance a referendum will be held...

The PIIGS were broke long before the EU was even a concept. The EU just made it worse. They were definitely broke at the end of WWII and it was very convenient for the UK/US to keep it that way, allies or not friend or foe. Now suddenly it's a surprise... Boo!

Big banks around the world are still broke as the band aid solution of giving away money is not really a solution. And neither is borrowing and infinitum to pay interest on borrowings when your not printing the money yourself. The banks lending to the PIIGS thought they had gurantees, but those...

TF as before it follows the crazyness in currency markets from a few days ago.