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Another European Summit, Another Beggars At The Feast Spectacle?
The European Union will hold yet another do-or-die summit this week. On this occasion, “growth” is the plat du jour; the allegedly missing ingredient in the “plan” to save the euro. In addition, some...
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Eurozone: “Bold” Moves Are Ineffective
“Bold, new”, but ineffective, moves by central banks today signals the fragile nature of the state of the worlds’ economies. They cut rates again in order to stimulate growth. Push interest rates low...
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Spain Needs a Bail-In, Not A Bail-Out
Spain’s banking reform: a bailout of the status quo If a couple of months ago we warned about the eerie similarities between Mexico’s 1994 financial fiasco and what is now taking place in Spain, the...
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What Germany’s Biggest Bank Is Thinking
More research notes from Deutsche Bank’s DB Research on Spain, the Eurozone crisis, and QE for the U.S. If you are interested, here is a note on the growing world economic decline as well. It is worth...
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The Scarlett O’Hara Approach To Solving The Eurozone Crisis
“The rise in the [Spanish] 10-year yield well beyond 7% carries a very distinct reminder of events in Greece in April 2010, Ireland in October 2010 and Portugal in February 2011,” said analysts at...
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KeithGram: Draghi Talks Euro Up +1.6%
Mario Draghi today promised to do whatever it takes to fix the euro. ”Believe me, it will be enough.” I don’t know why anyone would believe him, but that is not the point of this article. There is a...
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Draghi Says “Print”
FRANKFURT—European Central Bank officials signaled they are prepared to dramatically ramp up the ECB’s crisis response by renewing the central bank’s dormant government bond-purchase program. “Within...
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An Olympian Hurdle
Very little has definitively changed during the course of the financial crisis and where there has been evidence of change, very little of it seems to have been positive. Governments appear to believe...
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Geithner And Schäuble: Fake Bonhomie
This press release came from the Treasury today: U.S. Treasury Secretary Timothy Geithner and German Finance Minister Wolfgang Schäuble call for a continuation of global and European reform efforts...
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Draghi Acts: Is It Inflationary?
The European Central Bank (ECB) has decided to bailout its bankrupt members, mainly Italy and Spain, by buying their shorter-term bonds ( 1 to 3 years) with newly created money. The idea is to drive...
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