The hearts of the people all begin to weaken and to fail because of what is going on and what they see is coming!Italy PM Monti says worried about contagion from Spain

GREETINGS,

     ….” Corruption started in Europe, and it has now spread over nine-tenths of the population of the Planet Earth. It has caused the dissatisfaction of nearly 100 per cent of the civilized nations. “–pg.265(M.T.T.B.M.)

 ” We are in a world that is passing out of existence — and she is putting up a fight (war) to destroy the nation of righteousness. Be aware! To try to oppose the success of Allah’s truth only hastens the doom of falsehood and its teachers. “–pg.189(TFOA)

…..” We must not forget how we are warned by prophecies for one hundred years and for one thousand years that an end must come to his world.

   The rulers of this world must be removed and the crown must be taken off and placed upon another head, and they will rule in justice and righteousness.

   The people of this world have now become so wicked and so fearful of the consequences of their own rule until the almost thoughtless vision is gone, and fearfulness has taken hold of the people.

   Their head is going to and fro to the nations of the earth to find a way of peace between the heads of the nations. “A Great Time! A Troublesome Time! A Terrible Time!”

   The hearts of the people all begin to weaken and to fail because of what is going on and what they see is coming! “–pg.192(TFOA)

   Italy PM Monti says worried about contagion from Spain

SOURCE: reuters

 Italian Prime Minister Mario Monti expressed concern about Spain’s public finances on Saturday and said it would not take much to reignite the euro zone debt crisis and revive the risk of it spreading to Italy.

Speaking at a conference by Lake Como where he was discussing the Italian government’s new labour reforms, Monti praised Spain’s efforts to reform its jobs market but said it had fallen behind on budget control.

Spain shocked markets last month when it said it had missed its 2011 budget deficit target and a few days later set itself a softer goal for 2012.

“It (Spain) certainly made profound reform of the labour market but it did not pay the same attention to public finances,” Monti said.

“This is causing us big concern because their yields are rising and it wouldn’t take much to recreate trends that could spread to us through contagion,” Monti said.

He added that any fresh eruption of the euro zone debt crisis could cancel out the progress made in Italy and “take us back months.”

Monti passed a 33 billion-euro austerity plan in December, and is sticking to a target to balance Italy’s budget in 2013. Meanwhile, Spain has revised its deficit target to 5.3 percent of GDP in 2012, softer than originally agreed under the euro zone’s austerity drive.

An injection of European Central Bank funds into the euro zone’s banking system eased financial stress late last year after Italy’s bond yields surged above 7 percent, beyond which debt costs are widely deemed unaffordable.

Spanish and Italian borrowing costs fell steadily early in 2012, with investors flush with ECB cash and increasingly confident new governments in both countries would enact reforms to tackle their financial problems.

But since Spain revealed its budget slippage, investors have been ditching Spanish bonds for Italian, in a sign that the epicentre of the crisis is shifting.

Spanish 10-year bonds yield about 5.4 percent, 40 basis points more than their Italian counterparts, and 80 bps above last month’s lows. In November, before the ECB’s first massive cash injection, they yielded almost 2 percentage points less than Italy at 6.7 percent.

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