The ECB will hold on Sunday afternoon, a crisis meeting. By using this Telefonkonerenz: all major finance ministers and representatives of the G7.Topics: PIIIGS bonds and U.S. downgrade. Possible financial crash on Monday. Update: G20 already hold emergency meeting Saturday night (Eastern time). - Michael Mross interview with Russia Today. The ECB will hold on Sunday afternoon, a crisis meeting. This was arranged by ECB chief Trichet. With this key representatives of G7 finance ministers and the Euro zone.The Reuters news agency reported.
Consequently, the central bankers fear violent turmoil in the financial markets on Monday. The crisis in the PIIGS bonds could continue to worsen, triggered by the U.S. downgrade by S & P. On the agenda is likely to be the opinion of observers from the purchase of Italy and Spain bonds. The yield on these bonds rose on Friday on a 14-year high.
Growing up in the federal government, meanwhile, doubts whether Italy could be rescued by the European rescue EFSF, even if he tripled - Der Spiegel reports in its latest issue. An economy like Italy was not to support, to being too large, it is said to justify. The financial needs of the country is too huge. Also a guarantee of the entire Italian public debt of over € 1.8 trillion, after assessment of government experts from other partner countries, not to be lifted. By then the markets would suspect that Germany was overwhelmed.The focus of the ECB's emergency meeting in addition to the problems PIIGS the impact of the U.S. downgrading stand on global financial markets. There is a crisis scenario can be designed to intervene in accordance with, if this is necessary, it was to hear from Brussels and Frankfurt. Expected to be fierce rate turbulence.
For Lang & Schwarz recorded as early as the weekend from new Kurstürze. In particular, off-exchange trading bank shares fell. The Dow fell in the lead up to 6100thUpdate: Vice-Minister of Finance of the G20 crisis meeting Saturday evening
The deputy finance ministers of the Group of 20 major emerging economies and industrialized countries will on Saturday hold a conference call about the debt crisis in Europe and the USA. The interview was for the late evening (U.S. Eastern Time) is planned, said the Brazilian Ministry of Finance. It should provide information and opinions are exchanged. Further details of the talks were not immediately known. |