Central banks in debt-strapped countries have a golden opportunity ahead of them, if you will excuse the pun, to help their countries' finances by selling their yellow metal holdings.
The Great Debate UK
– James Saft is a Reuters columnist. The opinions expressed are his own –
To look at sterling and gilts, you would hardly know that Britain is sailing into a general election which will likely deliver a weaker government with a diminished ability, if not will, to grapple with high debts, an uncertain role in the global economy and an aging population.
The emergency numbers are ringing. Greek 10-year debt yields are ballooning to well over 8 percent. The country cannot sustainably finance itself. The debt of other troubled euro zone countries -- Portugal, Spain, Ireland and Italy -- is vulnerable to contagion. Help for Greece from the International Monetary Fund and European Union can't come too soon. But the probable rescue must be a spur not a salve, in Greece and outside it.
from Global News Journal:
The 16 countries that share the euro single currency have agreed they will help Greece out if it needs. So far so good. But only now is the nitty-gritty of how member states will go about paying for their contributions being hammered out. And suddenly things are getting a little complicated.