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If the finance ministers -- -- -- -- meeting in Brussels today to discuss whether studying -- the Euro -- Rescue fund the gathering comes as investors continue to be played by fears that Portugal may need a bail out.
Well can we expect and what happens -- a compromise can't be made.
Jan Randolph is director of sovereign debt at IH -- -- thanks for joining us.
Well let me ask I really didn't I would get a -- -- a delay here so we'll work through it about this what's going on in Europe right now.
We have a situation where last week.
Pretty good bond offerings from Spain from some other countries.
And does this maybe ease fears that this rescue fund needs to be raised that maybe we have enough already in place and maybe that the the bond investors will.
Do enough to keep these economies afloat.
What I think last week was a -- reprieve I think the reason why yields were kept down.
Ovals -- be down to the actual ECB.
Some figures out today showing that the buying of -- ball needs help push but yields down.
So we still want to be as easy beavis and butt -- this country sucking -- all the wins here.
And -- meantime back in Berlin and Brussels the two places but not for the most when decisions are made.
They all thinking about way usable more call comprehensive joined up approach to the crisis yet.
Be -- part of it is kicking the can down the road as you said it's a temporary help.
These bond issuances and the rates are gonna continue to move higher there's no question about that what other measures are being considered I -- Germany is sort of balking at.
-- raising this European Financial Stability Facility.
Raising it higher than 45040 billion euros or because where we are right now what other measures can be done.
Well I think what we're seeing -- we will be mobile we will see.
Over the course of the year realization by -- -- that.
A more comprehensive joined up approach is needed to.
And they -- vital to that.
But they're looking behind that -- that.
Though the polls and the politicians.
I think what will happen is that the European up on the stability fund will be and launched.
Totals have been -- won't be given.
More flexibility in its functions for example the buy supplemental is directly capitals that the -- -- that -- didn't he -- -- a suspect in terms of that patent application.
I think we're what we're seeing is just like under the -- -- of the 1930s.
We're seeing the need full some kind of odd that and the -- is that we'll get there and basically.
Well in part of that -- is -- we are living in a global economy that is for sure in that what do you make of the words from Hu Jintao over the weekend in China about that maybe.
It it the ratcheting up the rhetoric if you will against the US in the in the monetary policy here in the states.
Yeah I think.
Obviously but we know there's been a visit by the vice president -- next in line for the top job in China and he's certainly on a visit.
Through European capitals to curry favors -- What might -- and global times -- will -- European side with the Chinese on the Namibia I doubt it very much.
Having setbacks China's got a a lot of interest in Europe it is technically big a market in the US taken together.
The site -- -- -- -- -- the double dip recession in the largest export market.
They're also putting a lot of money into looking to invest in you know it's all it's -- vacation alternative to the Abdullah.
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