|
World Cup loss stings US fans new and old
|
|
There was beer spraying in the air after a big goal, a wide variety of R-rated chants and even a guy in a Captain America superhero suit. Beyond having a few more female fans at the bar than usual, the capacity crowd at Milwaukee's soccer-centric Highbury Pub for Sunday's Women's World Cup final looked and acted about the same as it does during U.S. men's games. Across the country, people who hadn't heard of Abby Wambach before this week joined hard-core supporters with fond memories of 1999 in bars, restaurants and living rooms across the country. And when the U.S. lost to Japan on penalty kicks, it stung just as badly as it did when the men's team was eliminated by Ghana in last year's World Cup. “If a country defaults, juicy couture we can no longer accept as normal eligible collateral defaulted bonds issued by the government of that country,” Trichet said in an interview with the Financial Times Deutschland released yesterday by the ECB. “This would impair our ability to be an anchor of confidence and stability.” Germany’s government says no extra aid is possible without bondholders being forced to stay exposed to Greek debt. It has incurred the ECB’s wrath by pushing for a debt swap. “The more we get private investors voluntarily involved now, the less likely we will have to take further steps,” German Chancellor Angela Merkel said in an interview yesterday on Germany’s ARD television. “Of course we have to be prepared, but the most important thing is that Greece has to do its homework and private creditors are brought into the fold.” The Institute of International Finance, a trade association representing more than 400 banks and insurers, said in a statement yesterday that “progress has been made and the discussions are continuing” after last week’s talks in Rome. Also overshadowing the summit is the question of how far governments will increase the scope of the European Financial Stability Facility given some steps may require the support of local legislatures which would take time and political capital. It may be allowed to buy bonds in the secondary market or enable Greece to retire its debt at a discount of as much as 50 percent. Germany has resisted such steps in the past. ECB Executive Board member Lorenzo Bini Smaghi said in an interview with Greece’s To Vima newspaper that it would be “useful” to allow the EFSF to buy bonds on the open market, according to a transcript from the ECB published yesterday. “This would allow the private sector to sell bonds at their market value, which is currently lower than the nominal value,” Bini Smaghi said. “This would allow the private sector to sell while the public sector would save money.” Officials are concerned the IMF may curb its share of a second rescue unless the plan includes deep cuts in Greece’s debt, two people with knowledge of the talks said last week.
|
| |
| |
Posted on : Jul 18, 2011
|
| |
|
|
|
|
|
|
|
