Germany and France meet in Berlin, remember Deauville?
Following discussions on how to break the impasse over private sector involvement, there will be a press conference at 11:45CET. The best that can be hoped is that Germany and France agree that creditors in the private sector will share the burden, with details awaiting the completion of the plan by July. It is difficult to see what kind of…
Bond supply pressure on Spain to ease
HSBC FI Research’s believes that Spain will remain isolated from the other troubled peripheral countries, despite pressure on the country’s bonds on Thursday. This view is shared by the ECB’s Financial Stability Review (June 2011 issue), released on Wednesday, which stressed that the…
Ireland attempts to calm concerns on bail-ins
Ongoing discussions in the Irish government, regarding bail-ins of senior bank bondholders, risk unsettling investors not only in Ireland but in other countries. On Thursday the Irish government attempted to tame market concerns and differentiate itself from the situation in Greece.
HSBC Global Research