Slaughtering The PIGS (Portugal, Ireland, Italy, Greece and Spain)–The Coming Defaults in Sovereign Debt–Euro Collapse–Videos
Axel Merk – Euro Contagion
The Eurozone Sovereign Debt Crisis: Investment Risks and Opportunities
Inside the Issues 2.20 – Sovereign Debtors in Distress
Following the recent CIGI-INET (Institute for New Economic Thinking) conference Sovereign Debtors in Distress, Pierre Siklos explains how European countries have become indebted in an unsustainable manner, and what financial mechanisms and policy options exist for states on the verge of default. A conference participant at Sovereign Debtors, Siklos is also a CIGI Senior Fellow and director of the Viessmann European Research Centre at Wilfrid Laurier University.
CIGI-INET Sovereign Debtors: Conference Overview
The CIGI-INET partnership brings together two world-class organizations that are tackling common problems together. “Sovereign Debtors in Distress” was the first CIGI-INET conference held in Waterloo, Ontario, Canada, and focused on unraveling the complex global threat of unsustainable sovereign debt. This video, featuring comments by CIGI Executive Director Thomas Bernes, INET Executive Director Robert Johnson, and the world-leading experts who participated in this conference, provides an overview of the discussions held from February 24-26, 2012.
CIGI-INET Sovereign Debtors: Roadmap for dealing with sovereign debt crises
Sovereign Debtors in Distress conference chair Susan Schadler joins panellists Michael Bordo (Rutgers University), Lewis Alexander (Nomura) and Martin Gilman (Centre for Advanced Studies) to discuss the roadmap for dealing with sovereign debt crises in the future.
CIGI-INET Sovereign Debtors: Institutional reform for sovereign debt crises
CIGI-INET Sovereign Debtors: Lessons from the Past
European Debt Crisis Explained
Europe’s Sovereign Debt Crisis: Causes, Consequences for the United States, and Lessons Learned
Northern EUSSR countries bail out more PIGS (07Apr11)
“SORRY – NO ONE BELIEVES YOU ANY MORE” – Nigel Farage
Debating the collapsing Euro and European economies, part1/2 (21Apr12)
Debating the collapsing Euro and European economies, part2/2 (21Apr12)
Moore Says Europe Debt Default Biggest Risk for Markets
Are Central Bankers just Economic Make-up Artists, Sexing-up Prices?
Debt-ridden Countries IMF’d as “Euro Collapse” threat lures Bailout Bucks w/Michael Hudson
Marc Faber, “The Ego of Mr. Bernanke has been Badly Inflated”
Jim Rogers on Ben Bernanke, the Dollar and “Saving the Saver”
Marc Faber the Great Depression all over again
Marc Faber – When the Government Will Take Your Gold
Stimulus High Fading, Dollar, Gold, History According to Obama
Peter Schiff on Max Keiser Report April 2012
Eurozone’s debt troubles continue
Dutch Government Resigns as Austerity Talks Fail
Euro bounces back on solid Dutch debt sale
Point Break: ‘Spain last nail in Euro-coffin’
Spain sells bonds but pays higher yields
Willem Buiter: Spain And Italy Could Default In Months Or Less
After Second Bailout, Is Greece Still Likely to Default?
Marc Faber – Is Greece Irrelevant for global Markets – 10 feb 2012
Big contrast in Iberian debt
Spain and Italy borrowing rates soar in latest auctions
Borrowing costs for both Spain and Italy rose today in their latest auction of government bonds.
“…Spain’s borrowing rate nearly doubled in a short-term debt auction as investors fretted over the euro zone’s determination to deal with its debts.
And Italy raised nearly €3.5 billion in a short-term bond sale today but at sharply higher interest rates amid fresh concerns over the euro zone outlook, the Bank of Italy said.
The Spanish treasury said it raised €1.933 billion but the timing could hardly have been worse, with financial markets slumping on concern that Europeans are wavering in their commitment to austerity.
The sale of three-month and six-month bills came a day after Spain’s central bank declared the country had plunged back into recession in the first quarter of 2012.
Markets were shaken after a first round of French presidential elections on Sunday put Socialist Francois Hollande, who wants the euro zone to focus on growth rather than austerity, ahead of incumbent Nicolas Sarkozy. The two contenders face off in a final vote May 6.
Further undermining stability, the Netherlands’ government collapsed yesterday after failing to reach agreement over austerity measures, placing its AAA credit rating at risk. But Spain still managed to lure strong interest in the auction with overall demand outstripping supply by more than four-to-one.
The money raised was towards the top of its targeted range of €1-2 billion. But it had to pay a steep price. The borrowing rate leapt to 0.634% from 0.381% for three-month bills and to 1.58% from 0.836% for six month bills, when compared with the last similar auction on March 27.
Spain has promised to cut its public deficit – the annual shortfall of income compared to spending – to 5.3% of gross domestic product in 2012 and just 3% of GDP in 2013. Last year it had allowed the deficit to hit 8.5% of GDP – 2.5 percentage points over target.
Desperate to meet its targets, the government approved €27 billion in fiscal tightening in its 2012 budget, in addition to an earlier round of tax increases and spending cuts amounting to €15.2 billion. …”
http://www.rte.ie/news/2012/0424/spain-borrowing-rate-soars-for-short-term-debt.html
UPDATE 1-More grief for Greece as recession seen deeper
By George Georgiopoulos
“…Greece’s economy will contract a deeper than expected 5 percent this year, the country’s central bank chief said on Tuesday, piling more pressure on to a citizenry already battered by crippling austerity and record joblessness.
The projection topped a previous forecast the central bank made in March, when it projected the 215 billion euro economy would contract 4.5 percent after a 6.9 percent slump in 2011.
Twice bailed-out Greece is in its fifth consecutive year of recession.
Speaking to shareholders at the central bank’s annual assembly, George Provopoulos, also a European Central Bank Governing Council member, urged strict adherence to reform and fiscal adjustment commitments Greece has agreed with its euro zone partners, saying they were needed to return the economy to sustainable growth.
Athens is under pressure to apply more fiscal austerity to shore up its finances as part of a new rescue package agreed this year with its euro zone partners and the International Monetary Fund (IMF) to avert a chaotic default.
Its continued funding under the 130 billion euro package will hinge on meeting targets.
Provopoulos warned that Greece’s euro zone membership was at stake if it failed to follow through on its pledges, especially after national elections next month.
“If following the election doubts emerge about the new government and society’s will to implement the programme, the current favourable prospects will reverse,” he said.
Greece is set to pick a new government on May 6, with the two main parties in the current coalition seen barely securing a majority in parliament, according to the latest opinion polls.
Whoever wins will have to agree additional spending cuts of 5.5 percent of GDP, or worth about 11 billion euros for 2013-2014, and gather about another 3 billion from better tax collection to keep getting aid, the IMF has said. …”
http://www.reuters.com/article/2012/04/24/greece-cenbanker-idUSL5E8FO4VU20120424
Background Articles and Videos
Euro is Dead – Long Live Germany? Anger over PIGS states’ bailout
Future of the US and Europe with Nigel Farage and Lew Rockwell on
Michael Pento, Eurozone Crisis, US Housing Bailouts? – Capital Account (11/11/11)
Gerald Celente talks Trade Wars, Eurozone Breakup, and MF Global
Greek crisis & Euro collapse-On the Edge with Max Keiser-12-02-2011
Pronk Palisades 
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