UniCredit has alerted investors in a client note that Britain is at serious risk of a bond market and sterling debacle and faces even more intractable budget woes than Greece No turning back: Sterling is going to fall further over coming months, warns Unicredit The Italian-German group, Europe's second largest bank, said Britain's tax structure will make it hard to raise fresh revenue quickly enough to restore confidence in UK public finances. "I am becoming convinced that Great Britain is the next country that is going to be pummelled by investors," said Kornelius Purps, Unicredit 's fixed income director and...
The pound slumped to a nine-month low against the dollar today as fears over a hung Parliament sparked a sterling sell-off. The currency fell sharply to as low as 1.478 against the dollar, as well as dropping below 1.10 against the euro. Pressure on the pound comes as the Conservative lead against Labour in the polls narrows - threatening an indecisive General Election result at the same time markets want firm action to sort out the UK's dire public finances.
The pound slid to new lows on Friday after it emerged that an apparent improvement in Britain's growth late last year disguised the fact that the Office for National Statistics has actually cut its estimate of Britain's economic output. The broadest measure of sterling's strength – the trade-weighted index produced by the Bank of England – dropped to a four-month low, down from 78.6 points to 77.9, while the euro climbed to just beneath the 90 pence mark, as economists mulled the fact that the ONS's second revision of GDP was far less promising than it at first seemed. In...
Euro falls as Europe's recovery almost stalls The euro tumbled against the world's major currencies after new figures underlined the economic challenges facing the region. Published: 11:39AM GMT 12 Feb 2010 The single currency fell to its lowest level in nine months against the dollar, dropped sharply versus the Japanese yen and also weakened against sterling as the region's latest growth numbers depressed sentiment further. The eurozone's gross domestic product grew just 0.1pc in the final three months of last year, failing to build on the 0.3pc enjoyed in the third quarter and falling short of what economists had predicted....
Who In Their Right Mind Will Bail Out The Poor Relations of Europe? The euro cannot survive if the national interests of EU countries are to prevail. Simon Heffer 09 Feb 2010. I keep thinking of that difficult time after the banking collapse, and the plunge in sterling towards parity with the euro, at the end of 2008. Lord Mandelson was, I remember, not the only offender who rattled off the europhiliac line about how Britain would have been spared such shocks had it joined the single currency: but he was the most conspicuous. He and his sort are quiet...
Treasury Secretary Timothy Geithner (GYT'-nur) says the U.S. government "will never" lose its sterling credit rating despite big budget deficits and a newly increased debt limit that now tops $14 trillion. [Snip] Moody's Investors Service recently issued a warning that the government's credit rating could eventually be in jeopardy if nation's finances don't improve. The cost of borrowing would increase significantly if the ratings service lowered the credit rating, also known as a bond rating, for U.S. Treasuries. Geithner tells ABC's "This Week" that will never happen.
National Oceanic and Atmospheric Admistration (NOAA) Administrator Dr. Jane Lubchenco has released the following statement: An epic snowstorm has the mid-Atlantic region in its cross hairs. At this time, personal safety must be first and foremost. National Weather Service forecasters have been tracking this storm for the past week and now that the storm is here it must be taken very seriously. Chris Strong, Warning Coordination Meteorologist for the NOAA's National Weather Service (NWS) Office in Sterling, Va. just emailed CWG and other media outlets the following note: Our media partners, If you would, please ensure these points get some...
How many mistaken-identity arrests does it take to make you angry? For me, one was enough — a mom snatched from her home in Sterling and jailed in Denver because the city figured she was someone she isn't. Then came another case, and another and another. Victim after victim has told how they were arrested and thrown behind bars because of sloppy police work. A former city worker was mistaken for a man who was long dead. A student was held for a week without a court appearance and forced to answer to another man's name. And a 21-year-old was...
"U.S. mosques fear influences on young" "Extremists, especially online, can be a powerful lure. "I have to be a virtual imam," counters one Va. leader." Washington Post WASHINGTON - SNIPPET: "Mustafa Abu Maryam, a Muslim youth leader who has known the five arrested men from Alexandria since 2006, said he was alarmed by their decision to go to Pakistan after exchanging coded e-mail messages with a recruiter for the Pakistani Taliban." SNIPPET: ""I'm really concerned about what the Internet is doing to my young people," said Mohamed Magid, imam at the All Dulles Area Muslim Society in Sterling, Va. "I...
Showdown in Sterling on 12/22: rally against the jailhouse jihad moving north to Thomson No, al Qaeda will not break out of “beyond Supermax.” They’ll just wage jailhouse jihad at every opportunity and force guards to extract them from their cells when its feeding time. The slightest bruise will be dutifully reported to the press by their pro bono lawyers. Those indicted will have similar fun in lockups around the country for, in addition to Manhattan and Brooklyn, an additional 50 detainees will be farmed out for federal prosecution. Gitmo in the heartland Attorney General Eric Holder is, of course,...
Thursday, March 11, 2010
0 Comments