Orlando Green, interest rate strategist at Credit Agricole CIB spoke to CNBC this morning about the current state of Europe’s debt crisis.
1:15 Uncertainty is driving the market, and that is the core problem with Ireland. The ultimate cost of Anglo Irish remains unknown. That is spooking the market.
2:10 Up to €10 billion or more is the threat against Ireland right now. Until that is public, there is no understanding in the markets.
2:40 Bank borrowing from the ECB has been heading up not just in Greece, but in Portugal too.
3:15 Michael Langford from Streamtrading.com says that an increase in government spending on programs that will lead to employment will be positive, but there are serious concerns over wastefulness.
4:00 Langford also pointed out that a downturn in Europe is a threat to China, but it isn’t a problem at the moment.
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