{"id":29564,"date":"2011-11-28T03:34:27","date_gmt":"2011-11-28T03:34:27","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/ambrose_evans-pritchard-should_the_fed_save_europe_from_disaster\/"},"modified":"2011-11-28T03:34:27","modified_gmt":"2011-11-28T03:34:27","slug":"ambrose_evans-pritchard-should_the_fed_save_europe_from_disaster","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=29564","title":{"rendered":"Ambrose Evans-Pritchard&#8211;Should the Fed save Europe from disaster?"},"content":{"rendered":"<p>The dam is breaking in Europe. Interbank lending has seized up. Much of the financial system is paralysed, setting off a credit crunch just as Euroland slides back into slump.<\/p>\n<p>The Euribor\/OIS spread or`fear gauge\u2019 is flashing red warning signals. Dollar funding costs in Europe have spiked to Lehman-crisis levels, leaving lenders struggling frantically to cover their $2 trillion (\u00c2\u00a31.3 trillion) funding gap.<\/p>\n<p>America\u2019s money markets are no longer willing to lend to over-leveraged Euroland banks, or only on drastically short maturities below seven days. Exposure to French banks has been slashed by 69pc since May.<\/p>\n<p><a href=\"http:\/\/www.telegraph.co.uk\/finance\/comment\/ambroseevans_pritchard\/8918784\/Should-the-Fed-save-Europe-from-disaster.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dam is breaking in Europe. Interbank lending has seized up. Much of the financial system is paralysed, setting off a credit crunch just as Euroland slides back into slump. The Euribor\/OIS spread or`fear gauge\u2019 is flashing red warning signals.<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=29564\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,40,50,460,582,589,595,592,149,591,200,590,671,119,585,596,584],"tags":[],"class_list":["post-29564","post","type-post","status-publish","format-standard","hentry","category-culture-watch","category-economics-politics","category-international-news-commentary","category-european-sovereign-debt-crisis-of-2010","category-consumerconsumer-spending","category-corporationscorporate-life","category-credit-markets","category-currency-markets","category-economy","category-euro","category-europe","category-european-central-bank","category-federal-reserve","category-globalization","category-the-banking-systemsector","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/29564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29564"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/29564\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}