Wednesday, April 28, 2010

Felix Salmon sobre Roubini sobre a Grécia

Roubini on Greece:

One member of the audience, though, had a really good question: what happens to the European system of sovereign guarantees of interbank lending? When those sovereign guarantees aren’t worth much any more, Euribor is likely to spike, since suddenly there’s a lot more credit risk involved in interbank lending. And there are hundreds of trillions of euros of debt contracts linked to Euribor, which could suddenly get very expensive and take control of short-term interest rates out of the hands of the ECB.
O texto é muito maior do que isto, mas esta foi a parte (que não é da responsabilidade, nem do Felix Salmon, nem do Nouriel Roubini) que me despertou mais atenção.

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