Archives of “borrowings” tag

rss

Warren Buffet’s Investment & Life Wisdoms

  
  Education
#  #  #  #  #  #  #  #  #  #  #

Spending: If you buy things you don’t need, you’ll soon sell things you need.

Savings: Don’t save what is left after spending; spend what is left after saving.

Hard work: All hard work brings profit; but mere talk leads only to poverty.

Laziness: A sleeping lobster is carried away by the water current.

Earnings: Never depend on a single source of income.

Borrowings: The borrower becomes the lender’s slave.

Accounting: It’s no use carrying an umbrella, if your shoes are leaking.

Auditing: Beware of little expenses; a small leak can sink a large ship.

Risk-taking: Never test the depth of the river with both feet.

Investment: Don’t put all your eggs in one basket.

Portuguese Bank Borrowings From ECB More Than Double In May, Hit All Time Record of €35.8 Billion

  
Analysis, Economy, Education, Forex
#  #  #  #  #  #  #  #  #  #  #  #  #  #

Alas, the deteriorating funding environment in Portugal is not a fluke – according to the Bank of Portugal, bank borrowings from the ECB surged in the past month, and doubled from €17.7 billion to €35.8 billion in May. As Steven Major from HSBC said, quoted by the FT: “These yields are approaching that magic number of 5 per cent that is likely to be charged by the European stability fund. If the yields keep going up at this rate, then they will be paying much more than 5 per cent next month, which is arguably unsustainable.” And confirming the non rose-colored glasses reality was another banker who said: “These yields are not sustainable. Portugal will have to access the emergency stability fund if they continue to rise at this rate.” Elsewhere, Greece continue to be bankrupt.

The chart below shows total borrowings from the ECB by Portuguese banks…

Go to top