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Best of the Blogs: Slovenia May Be Following in Spain's Footsteps

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Plus, does Spain's crisis signal the beginning of the end of the eurozone?

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This column highlights the most interesting and useful business and financial commentary from around the Web each day. Use our comments section to post your own suggestions for blog content that you've read or written.

Zerohedge
Link: Slovenia Is Spain: Is Another European Country's Bank Bailout On The Way?

"Has the Spanish bank bailout set a precedent for all other insolvent EMU member countries to follow? Of course. The only question is when is the stigmata of demanding a bailout (which Europe now has no choice but to grant courtesy of set precedent, be it via ESM or otherwise) less relevant than national pride, than preserving one's banking sector, and preferably preempting the kinds of bank runs that pushed Spain to demand a bailout in the first place. For one small Eurozone member country the answer may be if not now, then very soon. Slovenia's Dnevnik asks a simple question: 'How serious is the situation of Slovenian Finance - are we on the way of Spain?' The answer, in not so many words: very likely yes."

Forbes
Link: Yes, Spanish Crisis Has Triggered the Euro's Endgame

"Activity across Europe today looks like it is softening up the Euro area for the Euro's official demise. Italy's borrowing costs are being drawn north by Spain's, which today exceeded the psychologically important 7% barrier. But perhaps more importantly Angela Merkel has begun to show signs of wear and tear. Today she warned the political world that Germany probably can't take much more and tried to turn the spotlight on the USA."

The Big Picture
Link: Foreclosure Machinery Creaks Back to Life

"Ever since the Robo-Signing scandal erupted in October 2010, banks slowly come to realize that their practices were under ever increasing scrutiny. (I know that's a Duh! observation for most people, but these are bankers we are discussing).

"By early 2011, many of the major money center banks had slowed down their normal foreclosure machinery in a belated attempt to figure out just WTF they were doing internally. There was an attempt to identify the normal processing of defaulted mortgages and see if there was any illegal chicanery going on.

"They should have asked the question in the opposite way, as in 'Are we doing anything legally?'"

The Wall Street Journal: Real Time China Report
Link: The 'Destabilizing Effects' of China's State-Owned Enterprises

"During an otherwise upbeat assessment of the Chinese economy, Honeywell (HON) executive Shane Tedjarati, had a few bones to pick with China's massive state-owned enterprises.

"China 'went too far' in strengthening the state-owned sector, which was once drowning in losses, Mr. Tedjarati said at a press briefing organized by JPMorgan on Thursday. 'Now you have a huge amount of power and cash stored in a few enterprises. It has a destabilizing effect,' which he said the Chinese government is beginning to recognize."

The New York Times: DealBook
Link: Shell Extends Deadline for Cove Energy Bid

"The energy giant Royal Dutch Shell (RDS-A) extended the deadline on Thursday for its £1.12 billion offer, or $1.74 billion, to acquire the oil and gas exploration company Cove Energy.

"The move comes after PTT Exploration and Production of Thailand outbid Shell last month for Cove Energy (CNVGF) with a rival approach worth £1.22 billion, or $1.89 billion. The Thai energy company had made a 240 pence a share offer, which is supported by Cove Energy's board, to acquire the energy company, which has large energy assets in East Africa."

Times Business
Link: Dads 'Worth' Less Than They Were 10 Years Ago, Study Claims

"Some people might say that a dad is priceless. As far as one new study is concerned, those people would be wrong! I'm kidding, of course. But a report released this week claims there's a very specific price tag on dad's head: $20,248."

Twitter: @ChrisWitrak
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