Comments on: The ECB “Buys Into” Spanish Property http://fistfulofeuros.net/afoe/the-ecb-buys-into-spanish-property/ European Opinion Mon, 13 Feb 2012 07:39:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: KLCC Properties http://fistfulofeuros.net/afoe/the-ecb-buys-into-spanish-property/comment-page-1/#comment-51858 KLCC Properties Mon, 07 Nov 2011 21:22:28 +0000 http://fistfulofeuros.net/?p=5505#comment-51858 <strong>KLCC Properties...</strong> [...]The ECB “Buys Into” Spanish Property | afoe | A Fistful of Euros | European Opinion[...]... KLCC Properties…

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]]> By: a long distance relationship http://fistfulofeuros.net/afoe/the-ecb-buys-into-spanish-property/comment-page-1/#comment-50908 a long distance relationship Sat, 27 Aug 2011 03:09:27 +0000 http://fistfulofeuros.net/?p=5505#comment-50908 <strong>a long distance relationship...</strong> The ECB “Buys Into” Spanish Property | afoe | A Fistful of Euros | European Opinion... a long distance relationship…

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]]> By: Carl http://fistfulofeuros.net/afoe/the-ecb-buys-into-spanish-property/comment-page-1/#comment-25480 Carl Wed, 10 Jun 2009 21:40:30 +0000 http://fistfulofeuros.net/?p=5505#comment-25480 Excellent article. Personally i think the ECB is basically doing the same as with US subprime. Bascially cedudas hipotecarias are nothing different than MBS,ABS or SIVs and there are subprime to the hilt - akin to holding on 1M 200.000€ homes in Bangladesh. The fact is that there not 1.000.000 unsold homes, there will be closer to 3.000.000 in roughly two years, plus billions of speculative "buildable" or often revoked building permits... It is not small wonder why Colonial could not find any national or international suckers,i mean takers.Spanish banks took control exchanging stocks for debt. Spain will make US subprime look like a cakewake. Excellent article. Personally i think the ECB is basically doing the same as with US subprime. Bascially cedudas hipotecarias are nothing different than MBS,ABS or SIVs and there are subprime to the hilt – akin to holding on 1M 200.000€ homes in Bangladesh. The fact is that there not 1.000.000 unsold homes, there will be closer to 3.000.000 in roughly two years, plus billions of speculative “buildable” or often revoked building permits… It is not small wonder why Colonial could not find any national or international suckers,i mean takers.Spanish banks took control exchanging stocks for debt. Spain will make US subprime look like a cakewake.

]]> By: Kyle http://fistfulofeuros.net/afoe/the-ecb-buys-into-spanish-property/comment-page-1/#comment-25222 Kyle Mon, 18 May 2009 00:13:01 +0000 http://fistfulofeuros.net/?p=5505#comment-25222 Mr. Hugh, I have just finished reading your article (and its attachment on covered bonds), and I would first like to extend my gratitude to you for writing such an in depth piece. It was extremely informative. The bond buying approach of the ECB sounds very similar to the original MLEC/TARP and subsequently, the PPIP (in a slightly different iteration sans private participation) here in the US. Is the Euro public not as concerned with potential overpayment on the part of the ECB (as that has been the main sticking point here in the US, as I'm sure you're well aware)? Also, with respect to the potential for the issuance of Euro bonds, how do you foresee that impacting the broader govt security markets? Considering the current dollar/euro relationship, but also the relative recent performance of the US and Euroland economies, to what degree do you think Euro bond issuance would pressure UST rates (and subsequently, the rest of the debt market), or, at what rate do you think those bonds would clear at, relative to their UST counterparts? What do you think the US response would be? My guess would be to double down on current credit easing measures, but I would love to hear your response as to how this may or may not play out, and on the similarities between the current ECB proposal and the US various similar actions. Thank you so much for your contributions. Kyle Mr. Hugh, I have just finished reading your article (and its attachment on covered bonds), and I would first like to extend my gratitude to you for writing such an in depth piece. It was extremely informative. The bond buying approach of the ECB sounds very similar to the original MLEC/TARP and subsequently, the PPIP (in a slightly different iteration sans private participation) here in the US. Is the Euro public not as concerned with potential overpayment on the part of the ECB (as that has been the main sticking point here in the US, as I’m sure you’re well aware)? Also, with respect to the potential for the issuance of Euro bonds, how do you foresee that impacting the broader govt security markets? Considering the current dollar/euro relationship, but also the relative recent performance of the US and Euroland economies, to what degree do you think Euro bond issuance would pressure UST rates (and subsequently, the rest of the debt market), or, at what rate do you think those bonds would clear at, relative to their UST counterparts? What do you think the US response would be? My guess would be to double down on current credit easing measures, but I would love to hear your response as to how this may or may not play out, and on the similarities between the current ECB proposal and the US various similar actions. Thank you so much for your contributions.

Kyle

]]> By: The ECB and its QE « Der Don http://fistfulofeuros.net/afoe/the-ecb-buys-into-spanish-property/comment-page-1/#comment-25191 The ECB and its QE « Der Don Fri, 15 May 2009 15:28:36 +0000 http://fistfulofeuros.net/?p=5505#comment-25191 [...] quite puny and one can rest assured that the ECB will buy back some junk unknowingly. Witness that Spain is already issuing big time. Buiter asks if the ECB has sufficient capital in light of its price [...] [...] quite puny and one can rest assured that the ECB will buy back some junk unknowingly. Witness that Spain is already issuing big time. Buiter asks if the ECB has sufficient capital in light of its price [...]

]]> By: Bedtime reading: 2009-05-14 - Credit Writedowns http://fistfulofeuros.net/afoe/the-ecb-buys-into-spanish-property/comment-page-1/#comment-25178 Bedtime reading: 2009-05-14 - Credit Writedowns Fri, 15 May 2009 00:20:40 +0000 http://fistfulofeuros.net/?p=5505#comment-25178 [...] The ECB “Buys Into” Spanish Property - Edward Hugh [...] [...] The ECB “Buys Into” Spanish Property – Edward Hugh [...]

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