World economy talk

[uls]

Greece bailout to include debt exchange

near-maturity debt will be exchanged with extended-maturity debt

ratings agencies consider that default

Fitch says Greece will be downgraded to C if that happens

[Monseratto]

The Germans and the ECB are at loggerheads over the "voluntary" restructuring plan. A default is still a default...

ECB opposition to any restructuring of Greek debt has brought the bank into conflict with Germany, whose finance minister Wolfgang Schäuble wants a “quantified and substantial” contribution from private investors as part of any new bailout plan.

While Berlin has indicated it is not willing to support such a package if private investors do not participate, Mr Trichet said he was not embarking in a dialogue with any “particular minister” over Greece.

“We are not in favour of restructuring, haircuts and so forth,” he told reporters. “We exclude all concepts which would not be purely voluntary, without any elements of compulsion.

“We call for avoiding any credit event and selective default. And, of course, default.”

[Ry_Tower]

Hard liner pala sa credit ang mga german.

[uls]

Hard liner pala sa credit ang mga german.

Germany wants Greece bondholders to trade-in near-maturity debt for extended-maturity debt

if you were a bondholder papayag ka ba? it's crazy

naturally di payag ang ECB. the ECB holds approx. 40B euros of Greece bonds

Trichet Rejects ECB Participation in Greece Bailout - Bloomberg

Germany’s Schaeuble has called for Greek bondholders to voluntarily agree to extend the maturities of their debt by seven years to give Greece more time to cut its debt and budget deficit.

7 years?!

are you kidding?!!

[tidus1203]

Hard liner pala sa credit ang mga german.

Right, after the Weimar Republic hyperinflation natutuo na ang mga Germans to be very sensitive to inflation and credit...

[uls]

natural gas



robots gone wild

[uls]

WTI (3 months)


oil is stuck in a range

[uls]

Shanghai B-share index

[Monseratto]

Brent crude = $119.57

NYMEX crude= $102.13

[uls]

Brent crude = $119.57

NYMEX crude= $102.13

NATO will have to remove Gaddafi from power and restart oil production in Libya to pull down the price of Brent

[jhnkvn]

NATO will have to remove Gaddafi from power and restart oil production in Libya to pull down the price of Brent

OPEC compensated for Libya's nonproduction of oil naman diba? Shouldn't have a supply problem. Looks more of "fear"

[uls]

OPEC compensated for Libya's nonproduction of oil naman diba? Shouldn't have a supply problem. Looks more of "fear"

i mentioned this before -- Saudi crude is not the same as Libyan crude

not same quality

[Ry_Tower]

i mentioned this before -- Saudi crude is not the same as Libyan crude

not same quality

La na pera USA, baka hindi na sumama sa attack sa Libya hehe.

Kidding aside, they should hve attacked Libyang long ago.

[uls]

the US doesnt rely on Libyan crude

pansin mo the US isnt leading NATO airstrikes in Libya. it's the Europeans who are leading the airstrikes

coz Europe relies heavily on Libyan crude

the US buys oil from Canada, Mexico, Saudi Arabia, Venezuela, Nigeria -- in that order

Libya isnt important to the US

[Ry_Tower]

the US doesnt rely on Libyan crude

pansin mo the US isnt leading NATO airstrikes in Libya. it's the Europeans who are leading the airstrikes

coz Europe relies heavily on Libyan crude

the US buys oil from Canada, Mexico, Saudi Arabia, Venezuela, Nigeria -- in that order

Libya isnt important to the US

Kaya pala, NATO would b emore hard pressed nga but they are not cohesive without the US leading them kasi eh. Parang half-hearted.

But they shoudl put an end to the problem in Libya ended.

[Monseratto]

Hmm...next flashpoint?

Vietnam is no pushover, unlike ...ehem.

BBC News - China accuses Vietnam in South China Sea row
10 June 2011 Last updated at 08:44 GMT

China has accused Vietnam of "gravely violating" its sovereignty in an escalating row over disputed waters in the South China Sea.

Beijing said Vietnam had endangered Chinese sailors' lives and warned it to stop "all invasive activities".

It follows an accusation by Vietnam that a Chinese fishing boat rammed cables from an oil exploration vessel inside its exclusive economic zone.

China is engaged in maritime border disputes with several countries.

The South China Sea includes important shipping routes and may contain rich oil and gas deposits.

The US has also expressed concern about China's rising naval ambitions.

China's foreign ministry spokesman Hong Lei said Chinese fishing boats were chased away by armed Vietnamese ships on Thursday.

He said that during the incident the fishing net of one of the Chinese boats became tangled with the cables of a Vietnamese oil exploring vessel which continued to drag the Chinese vessel for more than an hour before the net had to be cut.


Hackers have taken up where protesters left off China insists the Vietnamese vessel was operating illegally in the area.

"By conducting unlawful oil and gas surveys in seas around the Wanan Bank of the Spratly archipelago and by driving out a Chinese fishing vessel, Vietnam has gravely violated China's sovereignty and maritime rights," said Mr Hong.

"China demands that Vietnam cease all violations," he said, adding that Vietnam should "not take actions that would complicate and expand the dispute".

Beijing's strong-worded statement followed Vietnam's accusation that a Chinese fishing boat had "intentionally rammed" the exploration cables of a Vietnamese boat - the second such incident in two weeks.

That vessel, chartered by state energy giant PetroVietnam, was conducting a seismic survey inside its 200 nautical mile exclusive economic zone on Thursday, said foreign ministry spokeswoman Nguyen Phuong Nga.

She described the "premeditated and carefully calculated" attack as part of China's attempts to control disputed waters.

"This is unacceptable to Vietnam," she said, adding that her colleagues had met Chinese embassy officials "to express our opposition to such acts".

On Thursday, hackers from both countries planted patriotic messages on hundreds of websites, including government sites.

It follows anti-China protests by hundreds of Vietnamese over the weekend.

China's ambassador to the Philippines, Liu Jianchao, has insisted China's intentions were peaceful and said that China was not looking for oil in the disputed waters and, therefore, no other country should.

"We're calling on other parties to stop searching for the possibility of exploiting resources in these areas where China has its claims," he told reporters.

"We will never use force unless we are attacked," he said.

[Ry_Tower]

^ la yan, hindi magkakagulo dyan, alam din ng china na dadaanin lang niya sa takutan mga neighbors niya eh. Malas niya kapag nabuwisit lahat at magsama-sama. Yahooo! May pag-asa na tayo makasali sa giyera after a long long time.

[uls]

Hmm...next flashpoint?

Vietnam is no pushover, unlike ...ehem.

Vietnam said it will hold live-fire exercises in the South China Sea on Monday

[uls]

Dow below 12,000

[Monseratto]

US $ Index


NYMEX Crude