You are two today, since you just completed 24 consecutive months of retail sales decline.
Business confidence isn’t looking any too rosy either:
And I hope you are “readying up” that rescue plan for Sunday Angela, since the difference between German and Italian benchmark bond yields widened to the most in nearly 12 years today as Italy sold 10 billion euros ($12.8 billion) of government securities.
The spread between the 10-year note yields increased as much as four basis points to 161 basis points today, the widest since May 1997, based on generic Bloomberg prices. It was at 155 basis points as of 12:05 p.m. in London. The average in the past 10 years is 31 basis points.
Germany or the International Monetary Fund may be forced to rescue members of the euro bloc that struggle to refinance debt, former Bundesbank President Karl Otto Poehl said today.
â€œThe first will certainly be a small country, so that can be managed by the bigger countries or the IMF,â€ he said in an interview with Sky News. â€œThere are countries in Europe which are considering the possibility to leave the eurozone. But this is practically not possible. It would be very expensive.â€