Banking union is a sham that solves nothing

December 21, 2013 Leave a comment

December 19, 2013 4:59 pm

European banking union is a sham that solves nothing

By Sony Kapoor

The idea is a distraction from more pressing issues, writes Sony Kapoor

The drumbeat of banking union has drowned out more important and urgent conversations on tackling the severe crisis in Europe. Given the earnestness with which EU leaders talk about the importance of “making progress on banking union”, citizens could be forgiven for thinking it is God’s gift to mankind – or at least that it might stem the eurozone crisis. Read more of this post

Filed under Macro Trends

Barrick Omen for Gold Miners With $44 Billion Debt: Commodities

December 21, 2013 Leave a comment

Barrick Omen for Gold Miners With $44 Billion Debt: Commodities

Investors in gold mining stocks that have lost about half their market value this year are preparing for even more pain.

The metal is on course for its first annual drop in 13 years and forecast to extend losses in 2014. That’s pushing producers toward stock sales to pay down debt borrowed under more optimistic conditions. The 13 miners on the BI Global Senior Gold Valuation Peers Index increased their borrowings 47 percent in the past two years to $44 billion. It all adds up to more pressure on share prices. Read more of this post

Filed under Macro Trends

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