US equity futures and Asian stocks were unchanged while European stocks declined after touching the highest level in almost a year, as Italian and Spanish banks dragged indexes lower. The dollar eased back from 14-year highs as bond yields fell on Wednesday and oil extended its advance in increasingly thin trading.
Monte Paschi will probably fail in its effort to raise €5b of funds from money managers and individuals as potential anchor investors balk and few bondholders agree to swap their notes into stock, Bloomberg reported cited people familiar.
In a last ditch attempt to avoid a state bailout, on Monday Italy's Monte Paschi will begin a share sale process as it aims to complete a capital raise of €5 billion ($5.2 billion) before Christmas, Bloomberg reported overnight. The bank will canvass institutional investor interest through Thursday, while the offer for retail investors will end on Wednesday.
Protests and looting broke out in parts of Venezuela on Friday as desperate and cashless Venezuelans, angry that the government hasn’t exchanged their voided bank notes, rose up. The riots were quickly put down, however, when National Guard troops were deployed to put down the unrest.
Greece snubbed its international lenders and legislated plans on Thursday to give pensioners a one-off Christmas bonus, in a move that has infuriated officials in Germany and several other member states.
Greek bond yields are surging in the latest twist of the nearly seven year old Greek crisis, when on Wednesday Eurozone fin mins and the ESM, suspended their promise to grant short-term debt relief measures to the Greek government, as a result of pledges made by the Greek PM Tsipras to ease austerity on the country’s pensioners earlier in the week.
Research into "renegade elector" Chris Suprun’s bizarre and unexplained flip-flop against President-elect Donald J. Trump has turned up Ashley Madison data, damning bankruptcy records, and a series of P.O. boxes and what appears to be an association with a payday loan scam site.
The EU and the euro project have been an economic disaster for all participants, including Germany, which will eventually be forced to write off the hard-earned savings she has lent to other Eurozone members. We know, with absolute certainty, that the euro will self-destruct and the Eurozone will disintegrate. We know this for one reason above all...
...When the pirates arrived, they robbed the island of 100 talents of gold (worth just shy of $100 million today), an unfathomable sum at the time...It’s amazing that thousands of years have passed, and yet that very same gold could still be traded in modern financial markets.
On the same day Matteo Renzi suffered a crushing defeat at the hands of alleged “populists” in Italy, German finance minister Wolfgang Schäuble ruled out debt relief for Greece ahead of a eurozone finance minister meeting.