Can the ECB save Europe from Italy?
The upcoming ECB meeting should be a non
-
event as far as rates are concerned
but it will renew focus on the political situation in Italy where it is crucial that the
ECB is still
prepared to provide support if necessary
. What is important is that a new government behaves in
such a way that investors
can remain confident that the ECB’s OMT programme will remain in place. However, in
the current situation, the progress of asking for help and agreeing on the content of a
Memorandum of Understanding could prove lengthy and compl
icated. If Italy were to
need help, there is a real risk that while Italy and the EU engage in lengthy discussion on
their
terms, the debt crisis could return with a vengeance.
Non molto belle queste considerazioni
.http://danskeanalyse.danskebank.dk/abo/WeeklyFocus010313/$file/WeeklyFocus_010313.pdf
E' quello che dicevo l'altro giorno ... non possiamo usufruire dello scudo dell'OMT.
In questo momento chi lo richiede? Chi si assume questa responsabilità?
A mio avviso, più facilmente, potrà essere messo in campo un nuovo QE della BCE ... serve giusto il tempo per riprendere fiato e tirare avanti qualche altro mese.
Le banche poi faranno il solito gioco.