Today's links are in multiple parts because I haven't posted since Thursday. The biggest news is that the EU is already backtracking on the Euro summit deal that decoupled the sovereign-bank tie which had been causing Spanish and Italian yields to rise. And predictably, Spanish and Italian yields have risen once more. On Thursday, I wrote that Ireland is the biggest winner from last European summit, largely because of the decoupling of banks and sovereigns that Europe agreed to in the summit. I wrote that:
Going forward, we will need to see both the talk of an EU-wide banking union and the Euro-TARP agreement solidify for these gains to hold.
What we are seeing now, however, is that Europe is backtracking on the agreement and therefore these gains wi...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.