Warning Get out of the US dollar
警告離開美元
2012-01-08
意大利銀行發出歐元警告
Italian bank issues euro warning
Jill Treanor, Nils Pratley
January 7, 2012
Translation by Autumnson Blog
THE Italian bank UniCredit warned its investors of the potential risk of a break-up of the euro as the single currency was battered on anxiety about the health of euro zone governments and their banks.
意大利銀行聯合信貸銀行警告它的投資者有歐元分手的潛在風險,因為該單一貨幣由於歐元區各國政府和它們銀行的健康而飽受焦慮。
Trading in the bank's shares was halted five times on Thursday due to huge falls as shareholders digested the terms on which it was trying to raise €7.5 billion ($9.5 billion) to plug a hole in its regulatory capital.
銀行的股份交易星期四停止五次,由於因為股東消化條款而大跌,它要嘗試舉措€75億(約95億美元)為它的監管資本填洞。
Italy's market regulator, Consob, said it was looking at whether short-selling rules had been broken because of the 30 per cent fall in the shares in the 48 hours since the terms of the rights issue were announced. Short selling allows punters to make profits on falling share prices and has been prohibited in parts of Europe.
意大利的市場監管機構CONSOB說,它在看賣空的規則是否已被破壞,因為自權利股發行的條款宣布的48小時內股份下跌了30%。賣空允許賭客在股價下跌時製造利潤,並已在歐洲部分地區被禁止。
Anxiety about the banking sector and fears about the ability of euro zone governments to repay their debts drove the euro to its lowest level against the US dollar since September 2010, an 11-year low against the yen and a near 16-month low against sterling.
對銀行業的有關焦慮和擔心歐元區政府償還債務的能力,推動歐元往自2010年9月以來兌美元的最低水平,及兌日元的11年新低和兌英鎊的近16個月低點。
The prospectus issued by Unicredit - whose shares are at their lowest since its creation in 1998 - to entice its investors to support the €7.5 billion cash call, spelt out the possibility of a collapse of the euro zone.
In a series of risk warnings that always accompany such share offerings, the bank said ''concerns that the euro zone sovereign debt crisis could worsen may lead to the reintroduction of national currencies in one or more euro zone countries or, in particularly dire circumstances, the abandonment of the euro''.
Sources believed this was the first time the warning, inserted by the army of lawyers working for the 27 banks underwriting the cash call, had been carried in such a document, but would not be the last. However, the bank insisted that it was not predicting a collapse of the euro zone.
The warning went on to say that ''any deterioration of the political and socioeconomic situation in Greece, as well as a decision by the group to participate in restructuring plans for Greek debt, could result in even bigger losses for the group than those recorded on September 30, 2011''.
The bank reported a €10.6 billion loss for the third quarter as a result of writedowns on its holdings of sovereign debt.
Guardian News & Media
http://www.smh.com.au/business/italian-bank-issues-euro-warning-20120106-1poaz.html
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