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’Quote du jour, Greek machismo edition
Via AP:
Greek Prime Minister George Papandreou says in Brussels that Greece will not need help amid debt crisis
He said Greece “never asked for any help” and added that it “will not be needing help”
Mon petit complex Napoleon
Abu Dhabi – $875bn
Norway – $391bn
Singapore (GIC) – $330bn
Kuwait – $264bn
China – $200bn
…
France – $7.6bn
From Bloomberg:
Nov. 20 (Bloomberg) — French President Nicolas Sarkozy
France, pourquoi la ruée?
So Reuters reports that France may or may not be urging a €300bn European Tarp. Très mysterieux.
Especially given that French banks, relative to their British and American brethren competitors, are generally believed to be doing rather well.
Le Bailout
A big hat tip to Jck at Alea:
“France will propose at the Saturday meeting a European rescue plan with a volume of 300 billion euros” a source told Reuters.
Cost of insuring French government debt from default:
In defence of hedge funds – or casses-toi, Sarkozy
Zut alors! And we thought les Francais were all hedgie-haters. Mais non. Business school Edhec has struck back, eager to show that despite what the French president Nicolas Sarkozy might have to say on the subject the French are not laying the blame for the summer’s ructions at the door of the funds.
La rupture Sarkozy: ECB to keep rates steady next week
While the ECB is insisting that the “options still remain open” for the possibility of a rate rise next week, others in the Eurozone are banking on a freeze.
Jean-Claude Trichet, the ECB’s president,