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Money is pouring back into European bonds
As European finance ministers gather for their latest crisis meeting Monday, it is becoming plain that the long-running sovereign debt drama is nowhere near its conclusion and that the markets will remain shrouded in a thick fog of uncertainty for many months to come. Sure, the Greeks are edging toward a deal with key bond creditors on what the politicians call a voluntary debt exchange. At the end of the process, the banks and a handful of other institutional holders will be left with about 30 cents on the euro. Greece will be relieved of about €100-billion worth of debt obligations, and Athens will be able to get ... (full story)
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There is always a price for promises you don't keep!
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There is always a price for promises you don't keep!
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