BREAKING: Cyprus Requests 5 Billion Euro Loan from Russia! Spain Yield Above Critical 7%

Cyprus requests 5 billion euro loan from Moscow - Russia's finance minister

[link to twitter.com]


One week. Literally. After last Friday morning, speculation that Germany had yielded to Mario Monti and would allow an unconditional and IMF-free rescue of Spain and Italy while the seniority of the ESM was eliminated, sending the Spanish 10 Year yield to under 6.2%, the same security is now back over 7%, as Finland and Holland (or half of Europe's AAA-rated countries), and even Germany, made it quite clear, as we said all along, that stripping seniority of a piece of debt is far more complex than saying one wants to do it in a Memorandum of Understanding.

[link to www.zerohedge.com]

Last Edited by DoorBert on 07/06/2012 07:00 AM