Markets

Greece Will Run Out Of Money, But When?

Troika officials have postponed for the second time the decision on the next tranche of Greek aid under the 2010 agreement. While this seems to tempting the fates and fanning fears of a default, it does not appear that Greece needs the money until the mid-Nov, the new time frame […]
Markets

October 3: Top European Stories From Open Europe

Cameron: Euro crisis may provide “future opportunities” for EU renegotiation; MPs could debate in/out referendum In an interview on the first day of the Conservative Party conference, David Cameron suggested that forthcoming EU treaty changes to fix the eurozone could provide the Government with an opportunity to demand the repatriation […]
October 3: Top European Stories From Open Europe
Markets

Chinese Communist Party Newspaper Has A Message For Europe

[credit provider=”danielh on Flickr” url=”http://www.flickr.com/photos/holgatepics/79261436/”] Chinese newspaper “People’s Daily” published a front page editorial Saturday telling Europe to quit “dilly-dallying” and get its act together, via Reuters.While the paper is not the official mouthpiece for the government, it is considered an organ of the Central Committee of the Communist Party […]
Chinese Communist Party Newspaper Has A Message For Europe
Markets

German Finance Minister: We’re Giving $283 Billion To The EFSF And “That’s It. Finished.”

[credit provider=”en.wikipedia.org” url=”http://en.wikipedia.org/wiki/Wolfgang_Sch%C3%A4uble”] German Finance Minister Wolfgang Schaeuble ruled out a larger German contribution to the European Financial Stability Facility in an interview published Saturday, according to Sky News.”The European Financial Stability Facility has a ceiling of 440 billion euros, 211 billion of which is down to Germany. And that […]
German Finance Minister: We’re Giving $283 Billion To The EFSF And “That’s It. Finished.”
Markets

One Step Closer To Event Horizon In Europe

I couldn’t be more delighted than to see the DAX get tagged for 2.5% today. This is a consequence of the “Successful” vote yesterday in the German Parliament to throw more good money after bad. The hit (so far) to German investors comes to $40b. That should make them happy […]
One Step Closer To Event Horizon In Europe
Markets

There’s A Report About Greek Bondholders Being Asked To Take An Even Bigger Haircut

[credit provider=”Robin Zebrowski on Flickr” url=”http://www.flickr.com/photos/firepile/68493747/”] A top official at the European Central Bank said off the record that the ECB/EU/IMF troika could require private holders of Greek bonds to accept a 75% haircut rather than the 21% they were expected to take, according to Italian newspaper Linkiesta (via @FGoria).This […]
There’s A Report About Greek Bondholders Being Asked To Take An Even Bigger Haircut
Markets

BAD NEWS: This Euro Situation Is Just Going To Go On And On And On And On…

[credit provider=”Ibrahim Iujaz on Flickr” url=”http://www.flickr.com/photos/notsogoodphotography/5739769957/”] With the media outlook swinging from wildly positive to wildly negative on a daily basis and rumours spiraling out of control, it can be hard to tell exactly where things stand on the eurozone crisis.But let’s be clear: the eurozone crisis is NOT going […]
BAD NEWS: This Euro Situation Is Just Going To Go On And On And On And On…
Markets

A Reminder Of The Tragic Errors That Let Europe Get To This Point, And A Look At What’s Next

[credit provider=”Flickr/Seth Lemmons” url=”http://www.flickr.com/photos/slemmon/3956905933/”] While two potentially promising policy responses to the eurozone crisis circulate, EU leaders are still failing to do what the market needs them to do in order to restore confidence and stem contagion.That’s the gist of what BTIG’s Chief Global Strategist Dan Greenhaus says in his […]
A Reminder Of The Tragic Errors That Let Europe Get To This Point, And A Look At What’s Next
News

Become A Democracy And We’ll Give You $9 Billion, Says EU To Belarus

[credit provider=”AP”] European Union leaders have offered Belarus’ president, Alexander Lukashenko, $9 billion if he releases political prisoners and holds regular democratic elections, reports EU Observer.Lukashenko would not have to step down as part of the deal, but it is expected that the authoritarian leader would be ousted if he […]
Become A Democracy And We’ll Give You $9 Billion, Says EU To Belarus
News

Berlusconi’s Hatred For His Finance Minister Won’t Go Away

[credit provider=”Wikimedia Commons”] Silvio Berlusconi has said that if it weren’t for the current economic sensitivity in Europe he would have fired his finance minister, Guilio Tremonti, long ago.Der Spiegel describes the relationship between the two as a “risky vendetta.” Tremonti has said it’s “impossible” to work with the Italian […]
Berlusconi’s Hatred For His Finance Minister Won’t Go Away
Markets

Germany Told The White House That Boosting The EU Rescue Fund Would Be A ‘Stupid’ Idea

[credit provider=”AP” url=”http://www.apimages.com/secured_user/Download.aspx?st=dl&id=5b691f3dc5c8457d84ac12cf5cfa407a&isgb=false”] According to The Telegraph, German Finance Minister Wolfgang Schauble said that boosting the EFSF would be a stupid idea because it would “endanger the AAA sovereignty of member states.”And when the White House said that failing to to recapitalize banks was “scaring the world,” Schauble basically told […]
Germany Told The White House That Boosting The EU Rescue Fund Would Be A ‘Stupid’ Idea
Markets

The Circular Logic That Dooms Euro TARP From The Start

[credit provider=”timekin/Flickr” url=”http://www.flickr.com/photos/mekin/281791343/sizes/m/in/photostream/”] The Eurozone bailout, now being referred to as Euro TARP, is doomed to fail.  While nothing has been officially announced the markets are rallying broadly on the back of a news article published by CNBC on Monday. The details are lacking as to the actual structure but […]
The Circular Logic That Dooms Euro TARP From The Start
Markets

This Is What That EU Bazooka Should Actually Look Like

TMM chuckled to themselves upon reading the A-Team’s latest trial balloon, as the irony of an idea grown out of financial innovation and structured credit coupled with leverage is presented as the solution to a crisis caused by precisely the same things. But in seriousness, TMM are unconvinced that this […]
This Is What That EU Bazooka Should Actually Look Like
Markets

Greenback Recedes Against The Euro On Eurozone Optimism

[credit provider=”flickr” url=”http://www.flickr.com/photos/ceesjw/4881555885/sizes/l/”] The U.S. dollar had made massive gains last week as investors fled to the safe have currency. We had been following the dumping of emerging market currencies in particular. Renewed hope that the eurozone is going to expand and ratify the EFSF, and Merkel’s commitment to helping Greece […]
Greenback Recedes Against The Euro On Eurozone Optimism
Markets

11 rumours That Have Kept Markets Cartwheeling For The Last Two Weeks

[credit provider=”kamerakamote on Flickr” url=”http://www.flickr.com/photos/tzf093/5689589640/”] A series of rumours have had markets on an obstacle course for the past two weeks, with investors jumping back and forth on whatever piece of news hits the wires.The nauseating trail back and forth has left some dazed and confused.
11 rumours That Have Kept Markets Cartwheeling For The Last Two Weeks
Markets

European Investment Bank Stunts Hope Of EFSF Leverage Plan

[credit provider=”flickr / jurjen_nl” url=”http://www.flickr.com/photos/jurjen_nl/5271842133/”] UPDATE: Now German Vice Chancellor Philip Rösler is saying that leveraging the EFSF is “off the table,” while Finance Minister Wolfgang Schaeuble has said both that he would support leveraging the EFSF and that he did not think the fund needed to be expanded.
European Investment Bank Stunts Hope Of EFSF Leverage Plan
Markets

GREEK FIN MIN: If Europe Can’t Save Greece, It Can’t Save Itself

[credit provider=”AP” url=”http://www.apimages.com/OneUp.aspx?st=k&kw=Evangelos%20Venizelos&showact=results&sort=creationdatelower%3Areversealphabetical&intv=None&sh=10&kwstyle=and&adte=1314047304&pagez=60&cfasstyle=AND&rids=554882c6cfc04508abc8c8be1c0c63d1&dbm=PY2011&page=1&xslt=1&mediatype=Photo”] Greek Finance Minister Evangelos Venizelos warned today that if Europe cannot save Greece, it cannot save itself, according to Bloomberg.Reuters also reports that he proposed a “euro-atlantic axis” to take steps to resolve the crisis.
GREEK FIN MIN: If Europe Can’t Save Greece, It Can’t Save Itself
Markets

Your Roadmap To The Big Week Ahead For Greece And The Euro

[credit provider=”F Delventhal on Flickr” url=”http://www.flickr.com/photos/krossbow/300449893/”] This is a BIG week for Greece and the euro.A number of crucial votes could decide the fate of the Greek bailout and whether or not we will see the proposed expansion of the European Financial Stability Facility come to fruition.
Your Roadmap To The Big Week Ahead For Greece And The Euro
Markets

EU Official Says New EFSF Plan Is ‘Well Advanced’, Awaiting Approval

[credit provider=”Lars Aronsson, Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:La2-euro.jpg”] CNBC is citing an EU official who says that a plan for a leveraged EFSF is virtually ready to go, and is simply awaiting approval from EU leaders.The plan allegedly includes measures to increase the funding of the EFSF and recapitalize European banks.
EU Official Says New EFSF Plan Is ‘Well Advanced’, Awaiting Approval
News

French Far-Right: We Warned You About The Euro

[credit provider=”commons.wikimedia.org” url=”http://commons.wikimedia.org/wiki/File:MARINELEPEN.jpg”] The leader of France’s Front National party, Marine Le Pen, has said her far-right party’s scepticism of the euro has been proved right, reports the Telegraph.A decade ago, Front National dismissed the common currency, an attitude that was portrayed as a nationalistic sentiment more than anything else.
French Far-Right: We Warned You About The Euro
Markets

IS THE EU BAZOOKA REAL? Still No Confirmation And Several Prominent Denials

[credit provider=”www.flickr.com” url=”http://www.flickr.com/photos/rodimuspower/4295993935/”] rumours of a major plan to prop up the eurozone may have bolstered markets this morning, but there’s reason to believe that such a plan either does not currently exist or is not yet much more than an outline.A number of EU officials denied reports that leveraging […]
IS THE EU BAZOOKA REAL? Still No Confirmation And Several Prominent Denials
Markets

REPORT: A Major Plan To Save The Euro Is In The Works

[credit provider=”AP Images”] German and French officials have made strides at the World Bank/IMF Meetings this weekend towards outlining a huge new plan to save the euro, according to a Telegraph report.By building a “firebreak” around Greece, Ireland, and Portugal, bolstering banks, and expanding the European Financial Stability Facility, they […]
REPORT: A Major Plan To Save The Euro Is In The Works
Markets

Meanwhile Things Are About To Get A Whole Lot Worse In Spain

[credit provider=”AP”] Spain appears to have dropped off radar screens. In part, a disorderly outcome of the Greek crisis continues to be threatened. Italian bond yields and CDS prices have risen above Spain’s. Yet, ironically, earlier this week, Spain’s central bank warned that its banking problems are bound to get […]
Meanwhile Things Are About To Get A Whole Lot Worse In Spain
Markets

THREE GRIM SCENARIOS FOR GREECE: 20% Haircut, 50% Haircut, Disorderly Default

[credit provider=”AP” url=”http://www.apimages.com/OneUp.aspx?st=k&kw=Evangelos%20Venizelos&showact=results&sort=creationdatelower%3Areversealphabetical&intv=None&sh=10&kwstyle=and&adte=1314047304&pagez=60&cfasstyle=AND&rids=554882c6cfc04508abc8c8be1c0c63d1&dbm=PY2011&page=1&xslt=1&mediatype=Photo”] Greek Financial Minister Evangelos Venizelos has told fellow socialists he sees three scenarios for Greece, according to Ta Nea via Bloomberg.In the “good” scenario, Europe hands over the bailout money along with a 20% writedown for bondholders.
THREE GRIM SCENARIOS FOR GREECE: 20% Haircut, 50% Haircut, Disorderly Default
Markets

The Euro’s Mysterious Late Day Rally

[credit provider=”patola via flickr” url=”http://www.flickr.com/photos/patola/67905802/sizes/m/in/photostream/”] The Euro rebounded sharply from $1.344 earlier this afternoon to $1.356 late this evening on no obvious news.However, according to Reuters, a Japanese new service reported that the Group of 20 was preparing an unscheduled announcement, stating that it would cooperate in an effort to […]
The Euro’s Mysterious Late Day Rally
Markets

REPORT: EU Officials Expect A Greek Default, But Think It Will Stay In The Euro

[credit provider=”AP” url=”http://www.apimages.com/OneUp.aspx?st=k&kw=merkel%20papandreou&showact=results&sort=relevance&intv=None&sh=10&kwstyle=and&adte=1315839661&pagez=60&cfasstyle=AND&rids=3e8a80499bda48b3864c1bd713b0e6db&dbm=PY2011&page=1&xslt=1&mediatype=Photo”] The Telegraph reports that EU leaders generally agree that a Greek default is imminent but  that Greece will not leave the euro.The report cites talks in Paris, Berlin, Frankfurt, and Brussels over how to handle a Greek default in the short to medium term.
REPORT: EU Officials Expect A Greek Default, But Think It Will Stay In The Euro
Markets

MEANWHILE: Developments In Greece…

[credit provider=”John D. Carnessiotis on Flickr” url=”http://www.flickr.com/photos/aster-oid/3383912837/”] As everyone in the world was transfixed on the Fed, Greece continues to do what it takes to get its next bailout tranche and stay in the Eurozone.The Greek cabinet agreed on yet another round of austerity measures today. The details come to […]
MEANWHILE: Developments In Greece…
Markets

Here Are The Winners And Losers If The Euro Were To Collapse

[credit provider=”Demolition Dynamics” url=”http://www.demolitiondynamics.com/sports.php”] There is a significant chance that the Euro itself will collapse in the coming weeks or months. Although the highly likely Greek government default may act as the trigger, the collapse of the European Monetary Union (EMU) and its currency is a quite different event from a […]
Here Are The Winners And Losers If The Euro Were To Collapse
Markets

A Short Note On A Eurozone Success Story: Ireland

It is remarkable that Irish 10-year yields have completely decoupled from Greece. At the beginning of the year, the 60-day correlation between Irish and Greek 10-year yields was above 0.90. Today, the correlation stands at -0.42. At the same time, Irish 10-year bonds yields have become significantly more correlated with […]
A Short Note On A Eurozone Success Story: Ireland
Markets

THINKING THE UNTHINKABLE: Nomura Presents 5 Possible Outcomes For Europe

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Hokusai_The_Ghost_Kohada_Koheiji.jpg”] Nomura’s Peter Westaway, Jens Sondergaard, and Dimitris Drakopoulos present a note called Thinking The Unthinkable in which they note with dismay the “inability and unwillingness of policymakers to take swift action” in Europe.While they still see Europe surviving and muddling through the current crisis, they’ve reassessed […]
THINKING THE UNTHINKABLE: Nomura Presents 5 Possible Outcomes For Europe
News

Gordon Brown: Euro Crisis Is Even Worse Than Lehman

Former British Prime Minister, Gordon Brown says that the current financial woes are worse than they were in 2008, reports the Telegraph.Speaking at the World Economic Forum in Dalian, China, Brown said he believes that the world’s economy could fall into a 1930-like slump if matters continue in the same […]
Gordon Brown: Euro Crisis Is Even Worse Than Lehman
Markets

All Of Europe Is Going Through The Roof

The euro is making a huge recovery against the dollar after the ECB announced coordinated dollar liquidity measures with the Federal Reserve, the Bank of England, the Bank of Japan, and the Swiss National Bank.
All Of Europe Is Going Through The Roof
Markets

Britain Suing The ECB!

Britain will sue the European Cental Bank to prevent it from implementing a new policy that would drive London’s financial services sector to the Continent, according to the FT.
Britain Suing The ECB!
Markets

A Quote From Merkel That Pretty Much Guarantees The Failure Of The Euro

[credit provider=”AP”] Slow growth is embedding itself solidly into the US economy and the bond mayhem in Europe continues. The external environment for China is getting worse. This will almost certainly make China’s adjustment – when Beijing finally gets serious about it – all the more difficult. With still weak […]
A Quote From Merkel That Pretty Much Guarantees The Failure Of The Euro
Markets

Why The rumoured Brazil Bailout Of The Eurozone Is Outrageous

[credit provider=”Team at Carnaval.com Studios / flickr” url=”http://www.flickr.com/photos/aforum/3028414320/”] Amid a rumour-filled day, one that stood was the chatter about the BRICS nations possibly working together to bail out Europe.The rumours seemed to be emanating out of the Brazil camp, but there were also rumours relating to China and Russia, so […]
Why The rumoured Brazil Bailout Of The Eurozone Is Outrageous
Markets

How To Trade The Euro When You Have No Idea What Happens Next

Way back in the mid 70s I was a Snake trader for a bank. This was a period before the EURO was adopted. The European currencies had established trading bands of 2-3% against each other. This was pre computer days, so figuring out where markets where vis a vis the […]
How To Trade The Euro When You Have No Idea What Happens Next
Markets

Jim Rogers: Buy All The Euros You Can If Greece Defaults

[credit provider=”Wikimedia Commons” url=”http://en.wikipedia.org/wiki/File:Jim-rogers-madrid-160610.jpg”] A Greek default may lead to a default in Italy, Spain and elsewhere, causing massive selling in the euro.Jim Rogers says in this likely scenario — which could begin this weekend — you should buy the dip. He told CNBC yesterday (via @_alea):
Jim Rogers: Buy All The Euros You Can If Greece Defaults
News

As The Euro Crumbles, Cameron Confirms UK Won’t Join

As the euro faces an existential crisis, David Cameron has moved to reassure the British public that his country will not be joining, Sky News reports.Maybe it was the nasty stuff UBS said about the currency yesterday that swayed him. Or, it could be the Euro’s own architect describing it […]
As The Euro Crumbles, Cameron Confirms UK Won’t Join
News

Something Big Is About To Happen In Europe

[credit provider=”flickr / jurjen_nl” url=”http://www.flickr.com/photos/jurjen_nl/5271842133/”] The European Union is finally approaching a much postponed moment of decision. Will the EU turn into a true USE (United States of Europe) or will it subside into something looser and less ambitious — a new Holy Roman Empire of loosely confederated but uncoordinated minor […]
Something Big Is About To Happen In Europe
Markets

Dutch Statesman Says Help For Greece Should Be On Condition That It Leave The Euro

[credit provider=”http://www.gahetna.nl” url=”http://www.gahetna.nl/collectie/afbeeldingen/fotocollectie/zoeken/weergave/detail/q/id/ace35288-d0b4-102d-bcf8-003048976d84″] A former leader of the Dutch liberal party Frits Bolkestein (who is now out of office) voices (yet another) angle on the Greek aide question.Via NRC.nl (via Google Translate)
Dutch Statesman Says Help For Greece Should Be On Condition That It Leave The Euro
Markets

The Big Forex Stories Of The Fall

The news stream continues to push the edges of the narrative outline here earlier.  US mired in slow growth, but not contracting (here in Q3).  A fiscal and monetary response is likely to be forthcoming in the next few weeks. The euro zone slowed dramatically and Q3 is off to […]
The Big Forex Stories Of The Fall
Markets

Slowdown In Germany Could Actually Save The Euro

[credit provider=”Flickr” url=”http://www.flickr.com/photos/tupwanders/4964020690/”] Believe it or not, Germany’s financial slowdown is a blessing in disguise.At least that’s what Alberto Alesina and Francesco Giavazzi write in an editorial published today.
Slowdown In Germany Could Actually Save The Euro
Markets

UPDATE: There’s Not Much To The Report That Greece Considered Leaving The Euro

[credit provider=”UPTRAIN via Flickr” url=”http://www.flickr.com/photos/uptrain/3428589576/”] UPDATE: After speaking to Cleary Gottlieb and a reporter from the Greek newspaper Eleftherotypia, we have found that an early report out of Greece was insignificant.A paper on the legal issues involved with a country leaving the Euro was presented at an academic conference held […]
UPDATE: There’s Not Much To The Report That Greece Considered Leaving The Euro
News

In the Netherlands, Euros Are Falling From The Sky

[credit provider=”patola via flickr” url=”http://www.flickr.com/photos/patola/67905802/sizes/m/in/photostream/”] Dutch drivers were treated to a bailout today when a package containing a large amount of money fell from a truck, spilling euros everywhere.According to the AP there was a “dangerous scramble” for the bills with people running away with handfuls of cash. No one […]
In the Netherlands, Euros Are Falling From The Sky
Markets

The Eurobond Is Doomed

Eurobonds are being touted as the silver bullet to resolve the Eurozone crisis. This column argues that the Eurobonds proposal fails on legal, political, and economic grounds. It says that, whatever the variant, Eurobonds only make sense in a political union—and given the vast differences in national political systems and […]
The Eurobond Is Doomed
News

Europe’s a Mess, So Why Is the Euro So Strong?

[credit provider=”patola via flickr” url=”http://www.flickr.com/photos/patola/67905802/sizes/m/in/photostream/”] The millions of American tourists travelling to Europe this summer face a rude awakening as soon as they clear customs: The dollar doesn’t go very far against the euro. Recently, it’s been trading in a range near $1.44 to the euro. (10 years ago, a […]
Europe’s a Mess, So Why Is the Euro So Strong?
Markets

Greenspan: “The Euro Is Breaking Down”

[credit provider=”AP”] Some dramatic comments from former Federal Reserve Chairman Alan Greenspan.”The euro is breaking down and the process of its breaking down is creating very considerable difficulties in the European banking system,” Greenspan said today, according to Bloomberg.
Greenspan: “The Euro Is Breaking Down”
Markets

CDS MARKET TO EURO BANKS – This Is Worse Than 2008

One of the many enjoyable acronyms that became household names in 2008 was CDS – credit default swap.  As most investors know by now, these instruments were created to protect bondholders from default.  Of course, what we found out in 2008 was that they really just shifted the risk from […]
CDS MARKET TO EURO BANKS – This Is Worse Than 2008
Markets

MONEY GAME DEBATE: Is “Fiscal Convergence” The Only Way Out Of The Euro Crisis?

[credit provider=”www.time.com” url=”http://www.time.com/time/covers/0,16641,20110822,00.html”] This weekend Herman Von Rompuy of the European Council said that creating eurobonds to end the EU’s debt crises would be impossible without fiscal convergence. Similar statements have been made by many, including German Finance Minister Wolfgang Schaeuble, who warned of an “inflation community” if fiscal policies […]
MONEY GAME DEBATE: Is “Fiscal Convergence” The Only Way Out Of The Euro Crisis?
Markets

Everything You Need To Know About The Swedish Flight To Safety

[credit provider=”jeaneem via Flickr” url=”http://www.flickr.com/photos/jeaneeem/990306103/sizes/l/in/photostream/”] Capital preservation has once again has become mantra. The safety offered by Japan and Switzerland are meeting resistance from policy makers. As the market looks for alternatives, the Swedish krona has much to offer, including a relatively robust economy, low public debt and a current […]
Everything You Need To Know About The Swedish Flight To Safety
Markets

Father Of The Euro: It’s “On The Edge Of A Precipice”

[credit provider=”Πρωθυπουργός της Ελλάδας on Flickr” url=”http://www.flickr.com/photos/primeministergr/5566180660″] Jacques Delors — one man responsible for ushering in the European Economic and Monetary Union — told Swiss newspaper Le Temps that Europe and the euro risk falling from “the edge of a precipice.””To avoid falling, the choice looks straightforward to me: either […]
Father Of The Euro: It’s “On The Edge Of A Precipice”
Markets

How Europe Went From Bad To Worse In The Course Of A Summer

[credit provider=”Dominik Golenia on Flickr” url=”http://www.flickr.com/photos/dominikgolenia/2255767532/”] Over the course of a news-packed summer, Europe has gone from bad to worse.What was being addressed as a Greek problem three months ago has now turned into a European problem of epic proportions — in fact, since the Greek bailout in late July, […]
How Europe Went From Bad To Worse In The Course Of A Summer
News

Politics In 60 Seconds

Good morning. Here’s the news:1. Stock index futures point to a sharply lower open on Wall Street today. Asian markets took a beating overnight. European markets are down on the day so far. Global growth prospects and the ongoing crisis of the eurozone seem to be the “macro” concerns. 
Politics In 60 Seconds
Markets

The Most Important Points From Merkel And Sarkozy’s Joint Announcement

[credit provider=”AP”] In a meeting that was supposed to yield very little, German Chancellor Angela Merkel and French President Nicolas Sarkozy actually signalled some significant developments in addressing the sovereign debt crisis in the euro zone.On the other hand, neither proposed a systematic solution to the euro’s problems, which could […]
The Most Important Points From Merkel And Sarkozy’s Joint Announcement
News

A Timeline Of The Eurozone, And The Crisis

[credit provider=”flickr / jurjen_nl” url=”http://www.flickr.com/photos/jurjen_nl/5271842133/”] The euro was introduced in 2002 as the single currency of the European Union–consolidating the largest trading area in the world and soon rivaling the dollar for global supremacy.But the accumulation of massive and unsustainable deficits and public debt levels in a number of peripheral […]
A Timeline Of The Eurozone, And The Crisis
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