TRIMBROKER (TRIMBROKER)
Markets  |  December 11, 2012 13:22:57

Berslusconi vs. Monti


iPoint.cz This week that while so many neudialo main event were therefore confusion in the Italian parliament. This caused a very strong growth last bond yields (yields at the short end has risen by 18% over hours), which are now zastabilizovali at higher levels. I've been writing about the former Italian prime minister and media tycoon Silvio Berlusconi after having been convicted for tax evasion began very quickly recover their political activities.His party Il HALF Della Liberta (People for Freedom) or PdL, which was created in 2007 and was launched in 2009 (combining Berlusconi's Forza Italia with the National Alliance and the Christian Democrats) is because since the last elections (in 2008), the strongest coalition party and it is capital which needs to be utilized. So we've seen a gradual transition from a consideration of the comments, support Prime Minister Monti (who is unelected technocrat, while crisis managers of Italian public finances), exit through the side of the Senate before the vote from Dover (well or did not vote against or for) to reconsider the current yet, and we encourage this present Prime Minister.

Bersluconi that the pigeon-holing of its political targeting does not do much (his party is also liberal, conservative behold, behold behold Stredova rightwing according to what the law suit) is currently trying to play the nationalist strings and Italians said that Monti spriahol with Germany and sent the country into recession. No problem at all tell voters that the differing yields of German and Italian yields are just trikom and that the economy was during his reign in a much better law state. After all, everything is in order, never on the neohovorilo nejakom between yields from before, so why is it now someone is interested?

Comment on such statements is not of great importance, and therefore equal to, say, about what will go in this game. Let's start with the genesis of the PdL development after the departure of the Senate during the vote, Monti said that after the approval of the 2013 budget resigns.Subsequently had several meetings with representatives of the EU and also unscheduled meeting with German Chancellor Merkel. Then he began to change his rhetoric, that no one should not expect his immediate departure and that, should anything happen, I would ovplyvňoval development of Italy in the future. Subsequently penetrated administration that Monti is negotiating with representatives of several political parties and would be in the elections went well as elected officials. Support would have been even of the voters, Italy has large problems and instead of Bunga-Bunga Berlusconi's party needs more crisis manager as Monti, who had already shown that vie for improvement, even without large increases in taxes. And it was in office only 13 months.

EU sources have indicated that an early election not expected in Italy and it is possible that there is a strong concern that the elections were originally plánovanom deadline in April 2013th Yield the time. Bersluconi vsádza the anti-European policy and they also search for a potential coalition and allies. Monti may be expected to support a majority of the Brussels European States, because nobody wants to political chaos again mutil water debenture market (Italian debt is nearing the € 2 trillion., And is well above 100% of GDP). Monti had laboriously gain the confidence of the market and this is losing the very quickly, as we have seen even today. Markets would certainly have been calmer, if govern Monti stayed alive. Populist scatter money and corruption is not a team right antidote to the debt crisis.

Today the mood is calmer than yesterday, by buying Greek bonds is directed to a seemingly successful conclusion (the € 10 billion in bonds in skúpenie mominálnej worth € 30 billion), Spain They electrified decent bond auction and the German ZEW economic sentiment survey ended above expectations. Euro erased losses as of the end of last week and German stocks are at new tops.

U.S. stocks have maintained a cautiously positive setup and mieria to the level of 1429/30. Eurozone problems even talks about fiškálnom reef without bland of details made public (except traditional assurance that all this is the correct direction) while not mind, the U.S. data, we did not see yesterday, today flax balance of commercial and therefore traders still nechávajú inspire good results NFP (job market) from last Friday and expectationFed meeting (tomorrow).

Author: Thomas Swimmer | TRIM Broker, as | Trading on exchanges TRIM Broker


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