QuoteOriginally posted by: FermionQuoteOriginally posted by: Traden4AlphaQuoteOriginally posted by: Seignioragewow. so how come Luxembourg's 10Y hovers around 3.2%? Just because the absolute value of debt is so small that nobody in the EU would mind bailing it out? If so, then what about the netherlands, whose 10Y is just a bit higher then lux?My wild guess is that most of Luxembourg's "external debt" is ordinary banking deposits made by wealthy Europeans. Luxembourg's government debt as percent of GDP is a miniscule 18%.And if the banks default, who'll pay it then?same for switzerland, isn't it? but looking at the swissie it seems nobody cares

QuoteOriginally posted by: DevonFangsQuoteOriginally posted by: FermionQuoteOriginally posted by: Traden4AlphaQuoteOriginally posted by: Seignioragewow. so how come Luxembourg's 10Y hovers around 3.2%? Just because the absolute value of debt is so small that nobody in the EU would mind bailing it out? If so, then what about the netherlands, whose 10Y is just a bit higher then lux?My wild guess is that most of Luxembourg's "external debt" is ordinary banking deposits made by wealthy Europeans. Luxembourg's government debt as percent of GDP is a miniscule 18%.And if the banks default, who'll pay it then?same for switzerland, isn't it? but looking at the swissie it seems nobody caresActually, Luxembourg's risk situation is probably much more stable because Luxembourg's banks probably don't face the currency risks that Switzerland has (and Iceland had).In some ways, Luxembourg is to the EU as London is to England and the notion of Luxembourg's debt to other EU members is as worrisome as London's debts to non-Londoners.

QuoteOriginally posted by: Seignioragewow. so how come Luxembourg's 10Y hovers around 3.2%? Just because the absolute value of debt is so small that nobody in the EU would mind bailing it out? If so, then what about the netherlands, whose 10Y is just a bit higher then lux? I think that Luxembourg has some sort of tax haven status. Hence, they capture money from wealthy individuals and from firms moving their headquarters to Luxembourg. Foreigners will not rout Luxembourg for fiscal (and legal) reasons!Quote Could someone explain to me the main figures the markets look at to determine long-term sustainability of gov debt- I assume its more than just external-debt-to gdp? I assume its also comparing projections of future growth rates, what else? perhaps something involving a deeper look at balance sheets of individual NCBs? I assume people are studying this a lot more nowadays.Public accounting is so opaque that it's extremely prone to speculation.

France will be the next to go

QuoteOriginally posted by: blackstormcapFrance will be the next to goThe CAC40 is already at 1997 and post-lehman crash levels but Brent Oil is at $105/bbl. The 10 year treasury yield is below lehman's lowest level. Gold is skyrocketing. The TED Spread is at 30 bps vs. 450 bps (2008). Euribor - Bund 6m is at 100 bps. It's a bipolar market across asset-classes!If the EU were to go bankrupt Brent oil should be trading at $10.5 / bbl since there won't be no one left to buy at higher prices! With so much demand for US Treasuries why is gold going up? And why is the Brent at $105/bbl with the Suissie and US treasuries at record highs?Add the Vix at the 2nd most higher peak ever and this risk-aversion trades don't add up with Oil prices and with the TED spread & Euribor. Or someone in Europe trading the stock market and the US Vix and US Treasuries, that doesn't trade the Brent and Financials' Bonds, knows something bad is going to happen really soon. But if you compare the WTI barrel vs Brent barrel - $82 vs. $109 it looks like the problem will be more severe in the US than in the EU and that the EU is going to have a nice GDP growth and the US will be flat. Furthermore, you look at Brent at $109 but Total SA is making 5 year lows (lower than post-lehman's crash when crude oil prices were hit hard) and Chevron is trading at $90, 50% higher than post lehman's crash and Anadarko more than 100% higher. In the end, you might just think that financial markets are irrational so why should anyone care with market valuations?

Wilbur Ross: Ireland Will Lead Europe Out Of The Debt CrisisRead more: http://www.businessinsider.com/wilbur-r ... z1WaNVcrJb QuoteRoss said Ireland's fundamental were intact and has previously argued that it didn't need structural reform. Moreover, it had the lowest corporate tax rate in Europe, strong infrastructure and a young, skilled workforce. Ross along with four other investors has agreed to buy a 34.9% stake in Bank of Ireland Plc. Read more: http://www.businessinsider.com/wilbur-r ... j...People in ireland feel, well, there were excesses, we have to get them out of the system and be back and be the Celtic tiger again. They're willing to go through it. That's a real attitudinal difference between the Irish mentality and most people in europe." The universities this year are getting a recod number of students in yes, maths, physics and CS.From what I can see they are biting the bullet. You can cut costs as is being done to a lesser or greater extent in EU, but that alone is necessary but not sufficient in the medium term.

QuoteOriginally posted by: Cuchulainn Ross said Ireland's fundamental were intact and has previously argued that it didn't need structural reform. Moreover, it had the lowest corporate tax rate in Europe, strong infrastructure and a young, skilled workforce. Ross along with four other investors has agreed to buy a 34.9% stake in Bank of Ireland Plc. Read more: http://www.businessinsider.com/wilbur-r ... j...People in ireland feel, well, there were excesses, we have to get them out of the system and be back and be the Celtic tiger again. They're willing to go through it. That's a real attitudinal difference between the Irish mentality and most people in europe." The universities this year are getting a recod number of students in yes, maths, physics and CS.From what I can see they are biting the bullet. That guy is talking through his hat, the 'young skilled workforce' is emigrating, and there's much more debt in the system to be realised.As for being 'willing to go through it', I don't know where he gets that from. He's probably being briefed by people insulated from it all.I wouldn't read too much into more students applying for those subjects either,the standard of science & maths students these days is appallingly bad.

QuoteOriginally posted by: TinManQuoteOriginally posted by: Cuchulainn Ross said Ireland's fundamental were intact and has previously argued that it didn't need structural reform. Moreover, it had the lowest corporate tax rate in Europe, strong infrastructure and a young, skilled workforce. Ross along with four other investors has agreed to buy a 34.9% stake in Bank of Ireland Plc. Read more: http://www.businessinsider.com/wilbur-r ... j...People in ireland feel, well, there were excesses, we have to get them out of the system and be back and be the Celtic tiger again. They're willing to go through it. That's a real attitudinal difference between the Irish mentality and most people in europe." The universities this year are getting a recod number of students in yes, maths, physics and CS.From what I can see they are biting the bullet. That guy is talking through his hat, the 'young skilled workforce' is emigrating, and there's much more debt in the system to be realised.As for being 'willing to go through it', I don't know where he gets that from. He's probably being briefed by people insulated from it all.I wouldn't read too much into more students applying for those subjects either,the standard of science & maths students these days is appallingly bad.Well, emigration is an issue, I agree.Still, at least Rory Quinn realises that maths teachers need to be better. Still, TCD maths dept is still #15 in the world.

QuoteOriginally posted by: Cuchulainn Well, emigration is an issue, I agree.Still, at least Rory Quinn realises that maths teachers need to be better. Still, TCD maths dept is still #15 in the world.Yes but, that ranking is probably based on research, not on undergraduate standards.The 3rd level system is going the same way the 2nd level went 20 years ago.Maths teachers are a lost cause, the schools don't think they need to pay a proper maths reacher, the oft quoted figure is that 60% of them are not qualified to teach the subject.

FYIMaths Teachers

QuoteOriginally posted by: TinManFYIMaths TeachersIf Donncha O'Malley and the 60's legends like Lemass and Frank Aiken (who was btw my opa's commanding officer) could do it, then hopefully RQ can as well. But you never know. It's a matter of vision. Maybe he should benchmark the Finnish educational model, which seems to be #1.The 60's brought in big changes, e.g. the use of new maths etc. I remember in the new regional colleges at the time that most of the teachers had PhDs. So graph and group theory were part of the curriculum of the maths course.

QuoteOriginally posted by: CuchulainnQuoteOriginally posted by: TinManFYIMaths TeachersIf Donncha O'Malley and the 60's legends like Lemass and Frank Aiken (who was btw my opa's commanding officer) could do it, then hopefully RQ can as well. But you never know. It's a matter of vision. Maybe he should benchmark the Finnish educational model, which seems to be #1.The 60's brought in big changes, e.g. the use of new maths etc. I remember in the new regional colleges at the time that most of the teachers had PhDs. So graph and group theory were part of the curriculum of the maths course.I don't think he has a hope, he doesn't have the finances and the teachers unions will block any attempt to impose any standards on them.There are many TDs who are teachers by profession, they have clout well beyond what they deserve.Plus any plan would be over 10+ years, you won't get many Irish politicians looking beyond 10+ months.

Just who gives a shit about math teachers in Ireland??? they already suck in UK or US