Friday, April 14, 2006

First lets laugh at the EURO

The Brussel's Journey continues their very low workload job of kicking the EU while it's down.

oaquin Almunia, the EU’s monetary affairs commissioner, who “told a group of City bankers and fund managers that the markets were ‘not properly pricing the risk’ of Italian sovereign debt. He also raised concerns about Greek debt. […] The spread between German and Italian 10-year bonds has already jumped from 20 to 31 basis points in recent days as rising global interest rates make investors more sensitive to risk. […] Mr Almunia said the spreads may widen further to reflect the default risk in Italy, which has the world’s third biggest stock of public debt after Japan and the United States.”

So whenever you hear moonbats talking about Iran or other states selling their oil in Euro's...

just snicker a lot

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