So what's next? Well, this is a useful eurozone crisis 'roadmap, outlining key events over the next 4-5 weeks, courtesy of Dow Jones:
--Sunday, Oct. 9: French President Nicolas Sarkozy meets German Chancellor Angela Merkel in Berlin
--Monday, Oct. 10: Malta parliament votes on EFSF changes (delayed from Oct. 6)
--Tuesday, Oct. 11: Greek and Italian T-bill auctions.
--Slovakia parliament votes on EFSF changes.
--Thursday, Oct. 13: Italian bond auction.
--Friday, Oct. 14-Saturday, Oct. 15: G-20 finance ministers meeting.
--EUR2 billion of Greek T-bills mature
--Monday, Oct. 17-Tuesday, Oct. 18: EU Council meeting
--Tuesday, Oct. 18: Spanish and Greek T-bill auctions.
--Thursday, Oct. 20: Spanish and French bond auctions.
--Friday, Oct. 21: EUR1.625 billion of Greek T-bills mature
--Saturday, Oct. 22: EUR1.059 billion of Greek bond interest payments due
--Tuesday, Oct. 25: Spanish T-bill auction.
--Friday, Oct. 28: Italian bond auction.
--Monday, Oct. 31: Belgian bond auction.
--Tuesday, Nov. 1: Mario Draghi replaces Jean-Claude Trichet as president of the ECB
--Thursday, Nov. 3: ECB policy meeting
--Thursday, Nov. 3-Friday, Nov. 4: Meeting of G20 leaders in Cannes
--Monday, Nov. 7: Meeting of Eurogroup finance ministers
To cite that old Queen song: "Are you ready, Are you ready for this. Are you hanging on the edge of your seat"
2 comments:
“NOW IS THE WINTER OF OUR DISCONTENT.....”
When William Shakespeare wrote the line above, he was writing about a glorious event; little did he suspect that several centuries on, someone would use the same line to describe a less than glorious state of affairs that has been festering for more than 18 months now. I would make one statement that I believe sums up our coming winter of discontent:
So begins serfdom for the masses
Amazing the way the EU continues to treat the problem as a temporary liquidity problem when it is the opposite, a fundamental solvency problem for the southern half of the continent. Each of the states, the PIGIS and France and Belgium, need a currency that they can live with. Those of us that like and respect Europe would welcome the exit from the Euro for these staes, and the chance to rebuild viable economies. Enemies of the Europe of free nations (the EU for example) would like to continue to crush them under an unsustainable burden of austerity. The longer they go on doing so, the bigger the crash when it comes.
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