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Egypt Debt Buoyed by Obama Guarantee for $1 Billion Eurobonds: Arab Credit [ W T F !!! ]
San Francisco Chronicle ^ | June 14 2011 | By Alaa Shahine and Ahmed A Namatall

Posted on 06/14/2011 11:43:52 AM PDT by NoLibZone

President Barack Obama's guarantee on $1 billion of Egyptian Eurobonds is poised to reduce the country's borrowing costs, helping the transition to democracy after six decades of autocratic rule.

The support that Obama pledged last month may cut yields on the five-year debt by 200 basis points, or the equivalent of $100 million, according to the median estimate of five fund managers surveyed by Bloomberg. Yields on Egypt's one-year bills jumped to the highest level since November 2008 following the uprising that ousted President Hosni Mubarak in February. The country last sold international debt in April 2010.

"The American backing is a complete game changer," Michael Cirami, who helps manage $12 billion in assets for Boston-based Eaton Vance Corp., said in a telephone interview. "There may be a spill-over effect that it's going to reduce the risk premium of their non-guaranteed debt and help them re-enter the market eventually on their own."

Obama is offering assistance for the planned Eurobond sale as the International Monetary Fund forecasts Egypt's economy may grow 1 percent this year, the slowest pace since 1992, and Moody's Investors Service says the country's public finances are "significantly" weaker than countries with similar credit ratings. The budget may post its biggest deficit in at least a decade in the fiscal year ending this month, hampering efforts to create jobs and reduce the poverty rate, reasons that sparked the anti-Mubarak revolt, according to the Finance Ministry.

(Excerpt) Read more at sfgate.com ...


TOPICS: Breaking News; Business/Economy; Extended News; Front Page News; News/Current Events; Politics/Elections; War on Terror
KEYWORDS: ayers; dnc4ikhwan; dnc4slavery; dnctreason; dohrn; egyptdebt; imamincharge; obama; obama457states; obama4ikhwan; obama4slavery; obamavsamerica; potus4egypt; potus4islam; rinotreason; schumersboyfriend; soaincharge; treason; wtf
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1 posted on 06/14/2011 11:43:55 AM PDT by NoLibZone
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To: NoLibZone

I give up.


2 posted on 06/14/2011 11:44:40 AM PDT by BenLurkin (This post is not a statement of fact. It is merely a personal opinion -- or humor -- or both)
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To: NoLibZone

Obama is deliberately working to ruin the US Economy.


3 posted on 06/14/2011 11:46:13 AM PDT by NoLibZone (Ronald Reagan was the last candidate to be hated by the MSM to the extent that Sarah is.)
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To: NoLibZone

No president should be able to spend money like that.


4 posted on 06/14/2011 11:47:55 AM PDT by isthisnickcool (Sharia? No thanks.)
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To: NoLibZone

How about Saudi Arabia guarantee the bonds?


5 posted on 06/14/2011 11:48:02 AM PDT by cowtowney
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To: NoLibZone

And Congress authorizes this when exactly?


6 posted on 06/14/2011 11:48:11 AM PDT by Norm Lenhart
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To: NoLibZone
Aid to another MUSLIM country...where democracy will never be!! ISLAM is law!!! World dominance is the goal. Tital submission!! Kill all the Christians and Jews!!

Obama is not a Muslim?? I have this bridge....

7 posted on 06/14/2011 11:48:48 AM PDT by Sacajaweau
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To: Norm Lenhart

I agree and want to see the cite for that power which he does NOT have.

Unless of course, it is his personal guarantee.


8 posted on 06/14/2011 11:50:23 AM PDT by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: NoLibZone

This fits very nicely with the ultimatum to Israel.


9 posted on 06/14/2011 11:52:06 AM PDT by JimSEA
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To: NoLibZone

What, exaactly, did he use to ‘guarantee’ these “Eurobonds”, and what kind of Eurotrash, crackhead, morons would believe/accept said guarantee?


10 posted on 06/14/2011 11:57:03 AM PDT by WayneS ("I hope you know this will go down on your PERMANENT record...")
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To: NoLibZone

Obama has lost his freaking mind! WTF!!! He protects the rights of dead and alive terrorists and funds them!!!

I N S A N E! He has to be an enemy of the state! I mean c’mon enough is freaking enough!

He pledged Greece money (And I know it is true because his online mediamatters freaking garbage Soro’s funded media center said the ‘right wing media’ made it up)

And now he gives the muslim freaking Brotherhood even more money!!!

IMPEACHMENT TIME HE MUST RESIGN!

http://biggovernment.com/dmitchell/2011/06/08/obama-wants-american-taxpayers-to-bail-out-greek-politicians-and-dig-the-debt-hole-even-deeper/

IMPEACHMENT TIME HE MUST RESIGN!


11 posted on 06/14/2011 11:57:53 AM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: NoLibZone

How about they back it up with some collateral of oil or some free Suez Canal passes?


12 posted on 06/14/2011 11:58:06 AM PDT by crusty old prospector
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To: isthisnickcool
No president should be able to spend money like that.

"No president" has the legal authority to spend a dime without Congressional authorization.

13 posted on 06/14/2011 11:59:20 AM PDT by Carry_Okie (Project GunWalker: "We've got to have a civilian national security force that's just as powerful, j")
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To: NoLibZone

I guess Egypt is too big to fail.


14 posted on 06/14/2011 12:01:14 PM PDT by bagman
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To: NoLibZone

Good thing we go plenty O’ money to flush done the loo. /sarc.


15 posted on 06/14/2011 12:01:14 PM PDT by Voice of Reason1 ("Absolute power corrupts absolutely” Lord Acton 1887)
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To: NoLibZone

America is now a government of, by, and for
The Impostor’s 57 States.


16 posted on 06/14/2011 12:02:32 PM PDT by Diogenesis (Nothing surpasses the complexity of the human mind. - Leto II: Dar-es-Balat)
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To: NoLibZone

The [ W T F ] is for winning the future right?


17 posted on 06/14/2011 12:02:44 PM PDT by Skeez (O)
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To: WayneS

He is pledging money we don’t even have or know about?What else is new? He must have pulled this money from the NWO money tree- The NWO world currency?

Where have you heard the term “Unity In Diversity,” before?
His campaign slogan maybe when he held a campaign at a certain memorial in Az. maybe?

http://www.futureworldcurrency.com/


18 posted on 06/14/2011 12:02:48 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: isthisnickcool
No president should be able to spend money like that. The president cannot. That's congress's job, which as we know they have not been doing for several years. Congress appropriates spending bills and authorizations.

They also Twitter their Weiner when not doing much else.

19 posted on 06/14/2011 12:03:29 PM PDT by blackdog (The mystery of government is not how Washington works but how to make it stop)
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To: Norm Lenhart

I was wondering about that...doesn’t the House control the purse strings on such a matter?


20 posted on 06/14/2011 12:04:43 PM PDT by LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)
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