A day after the EU has come to terms on a bailout to save Greece, this Bloomberg TV analysis is pretty interesting. First, they point out that the rates Greece got were still pretty punitive, despite the fact that they were below market rates. But even more interesting is the notion that the U.K., not Portugal, Spain, or Ireland, might be the next economy to be forced to the brink because they're not part of the Euro Zone and don't have the partners to bail them out.
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The UK is a part of the EU?
In fact the UK was one of the 12 founding members of the EU.
The EMU
Duh. Nice catch, coffeebateman.
Do any of you foresee the pound depreciating substantially because of this?
Not much more than is currently the case
Most of it is already priced in, if anything the pound will appreciate some after the election, because the market is not fond of the uncertainty surrounding that - specifically, the risk of a hung parliament (of course, if that DID come to pass, then it'd go even lower).
they better call them PIGSIE Portugal, Italia, Grease, Spain, Ireland, England. Next shoe to fall
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