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Breakingviews: Spanish junk pending

Friday, August 31, 2012 - 04:43

Aug. 31 - Moody's decision to delay a Spanish downgrade puts euro zone bailout 2.0 on trial and ECB under pressure, says Reuters Breakingviews.

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They -- -- Royce is breaking views wind Moody's is are keeping eurozone bailout two point zero on trial. And investors think twice about it new bond issued on music royalties. I'm it's all about Bob -- -- this one as you know most of puns -- that which are refuse to -- to -- come out of a sudden there's certain moments ago. -- to straighten them that we asserts the numbers. He asked let's talk about this. This Moody's story and that some new has written. -- -- holding off on reducing Spain's rating to junk. Probably -- to the right reasons. The other basically giving. Giving time for what he multiple. Support mechanisms that are now being told about the the sort of coalesce and come together and to. They're essentially useless to him back here and well let's see whether this. This culmination of a bit -- buying by these to be in the market which we find -- more. I -- this week off the ccb government housing council meets him. Whether that. Hole in combination -- explain finally taking some money from the EFSF yeah. Bailout fund. Actually it all comes together a plus today the -- carrying. Efforts to sort Spanish banking system. That. And condolences that they had to sum up. What will all come together basis. Pizza and you essentially. Give studying the continued market -- after congress and the point you make and it's an important one from this giving Spain the benefit of that now. Parts of Spain and the ECB immigrant pressure yeah I mean -- that's -- the -- the causes that are veteran -- At that given them a bit of -- life line in this sort of in and then all of the things that can -- In doing so there's a social -- hat that says it that this is for the taking doesn't squander this and we. On golf game to the in its full apology when not come into that at things from these famous situation we can see how this -- -- -- Go on and make it happen and -- another was let's have a credible. The messes since it let's get -- credible. By allow. Let's get some proper action in the markets that brings to our yields. And if you do that if you do that then it you know there is no need to. -- in that the news that comes with savage. Downgrade that actually. -- perpetuates problems -- -- cards in the market and I found right it's got this phone don't assess what you -- -- the 300 million dollar. Bond backed by royalties songs from Bob Dylan. And others on your headline put Dylan's tangled -- in the credit watched -- It's next -- On that it's Friday. What do you think of this I mean what does that have to do to tears that every kind of allowed thousands of new developments like entry we have seen music royalty bones before. Now look -- handled the world's greatest about the book them and by the way it's. Well way to think about this this this as the -- asset backed security port rockets. If you buy -- fifteen since two tranches as the flu than triple its own problems. And I'm -- neutrons. And -- -- -- -- -- -- -- the -- when you have first plane. On the cash flow is coming off the assets from -- -- the the the rifle for -- Fit to post it. The stick yeah you have to have you back catalog into -- -- that into two. -- -- -- it is going to be. And think whether you would want the public -- why didn't actually look like but doesn't mean you might think about that I'm told by the by the by -- -- that. And that's -- -- on the tracks. Should because of the triple IA. As the federal law. It's -- expressed don't think twice it's all right well. With the article in time remember I don't think that that there's that there's a bit of a -- I think during the eighties and then some of the more recent stuff the critically acclaimed -- If you get a -- and this is that there is a convenient proxies for me you know what do you think. He's prone to -- Respects an excellent. Chris here's the margin of setting aside what are US breaking news show at every day -- thirties and 1730 bsc. I'm -- problems sources.

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Breakingviews: Spanish junk pending

Friday, August 31, 2012 - 04:43