Obi-Wan Kenobi
/ 83.5.251.* / 2010-01-26 13:56
Ogromne problemy z narastającym długiem i konieczność rolowania poprzedniego, spowodować mogą szoki w zakresie stóp procentowym\ch, grożą wielu państwom w Europie i nie tylko....
The short-term debt — a lot of which rather exposes governments to things like interest rate shocks. It’s also what’s responsible for pushing this year’s overall funding requirement, of €2,200bn, higher than 2009’s level of €2,120bn.
Remember that the short-term debt will need to be rolled over sometime this year, so immediate funding requirements for 2010 look heaviest in places like France, Germany and Italy.
Scariest of all — the Fitch estimates don’t take into account anything unexpected.
Things like, err, bank failures:
Note that for 2010, Fitch has assumed no below‐the‐line operations (eg bank recapitalisation) and no change in governments’ cash balances (eg no pre‐funding of future expenditure).