News

IMF: Taxpayers and Democracy Must Bail Out Eurozone Banks

[credit provider=”Ralph Orlowski / Getty”] Why is it that 17 nations have to fundamentally reorganize themselves and shift sovereignty away from national parliaments to new layers of transnational, beyond-control bureaucracies that can extract untold wealth from taxpayers—just to save the banks?That’s what the Eurozone has to do, or else banks […]
IMF: Taxpayers and Democracy Must Bail Out Eurozone Banks
Markets

Germans Sound Increasingly Depressed About The Future Of The Eurozone

[credit provider=”www.youtube.com” url=”http://www.youtube.com/watch?v=TITLqWtxLPk”] Euros entered circulation on January 1, 2002, and for six years, they were practically growing on trees in southern Europe. But the bubble got pricked. Since then, the monetary union has been in crisis—almost half of its existence — until late last year, when it was decided […]
Germans Sound Increasingly Depressed About The Future Of The Eurozone
Markets

Democracy Has Become The Biggest Threat In The Eurozone

[credit provider=”Fabrizio Goria” url=”https://twitter.com/FGoria/status/303954748602712064″] “I’m appalled that two clowns have won,” said Peer Steinbrück about the Italian election, referring to former comedian, now hot politician, Beppe Grillo, head of the 5 Star movement, and former Prime Minister Silvio Berlusconi.One of them is “a professional clown who doesn’t mind being called […]
Democracy Has Become The Biggest Threat In The Eurozone
Markets

The Biggest Lie They Keep Telling Themselves In Europe

[credit provider=”flickrfriendsofeurope” url=”http://www.flickr.com/photos/friendsofeurope/6244928468/”] In the just-concluded Italian election, the big loser was Mario Monti. The outgoing Prime Minister only garnered 10% of the vote, which has to be one of the worst showings for any incumbent in the history of elections.Monti came into power in late November 2011, when surging […]
The Biggest Lie They Keep Telling Themselves In Europe
Markets

A Successful Taxpayer Revolt Against Bank Bailouts In the Eurozone

[credit provider=”AP Images”] Bank bailouts in the Eurozone, like bank bailouts elsewhere, have made owners of otherwise worthless bank debt whole through a circuitous process where, in the end, taxpayers transferred their money to investors.Even in Greece, investors were coddled. Even Proton Bank that had siphoned off $1 billion in […]
A Successful Taxpayer Revolt Against Bank Bailouts In the Eurozone
Markets

Why Europe Just Got Its First ‘Rebellion’ Of The Crisis Era

[credit provider=”Joe Weisenthal, Business Insider”] The most dramatic moment in last night’s Italian election came from the second in command in the centre-left PD party.He announced to a room of reporters that voters had staged a “rebellion” and that the country would likely be ungovernable.
Why Europe Just Got Its First ‘Rebellion’ Of The Crisis Era
Markets

11 Members Of Eurozone Agree To Implement The ‘Robin Hood Tax’

[credit provider=”YouTube via LadyAmaltheaUnicorn”] Eleven members of the Eurozone have finally agreed to adopt a financial transaction tax often referred to as a ‘Robin Hood tax’ first discussed in September 2011.The tax will apply at the rate of 0.1 per cent on stock and bond transactions and 0.01 per cent […]
11 Members Of Eurozone Agree To Implement The ‘Robin Hood Tax’
Markets

Odds Of A Country Leaving The Eurozone Collapse

Citi’s call for Greece exiting the EMU in the next 12 to18 months with a 60% probability (see discussion) looks even more out of sync with current expectations. The latest survey from Barclays shows that 70% of investors do not expect any nation to drop the euro next year. This […]
Odds Of A Country Leaving The Eurozone Collapse
Markets

EICHENGREEN: Keep The European Union, Scrap The Euro

[credit provider=”Andreas Rentz/Getty Images”] Europe’s crisis has entered a quiet phase, which is no accident.The current period of relative calm coincides with the approach of Germany’s federal election in 2013, in which the incumbent chancellor, Angela Merkel, will be running as the woman who saved the euro.
EICHENGREEN: Keep The European Union, Scrap The Euro
Markets

The Amazingly Scary Depth Of The EU Recession

The below graph is from the latest Eurostat GDP release for the EU area.  Let’s consider the following information to illustrate the depth of the EU problem. 1.) The EU 17 and 27 have both contracted YOY for the last two quarters.  With the exception of the .1% Q/Q growth […]
The Amazingly Scary Depth Of The EU Recession
Markets

SocGen: Here’s What The World Will Look Like In 2013 And Beyond

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Earth-Erde.jpg”] As we prepare for the holidays, Societe Generale’s Michala Marcussen and her team are out with their latest update on the global economy.Policy uncertainty was a big factor in dragging down growth this year.
SocGen: Here’s What The World Will Look Like In 2013 And Beyond
Markets

Spain Puts A Moratorium On Evictions For ‘Vulnerable Homeowners’ After Spike In Suicides

[credit provider=”Twitter / @paaiiss” url=”http://www.twitter.com/paaiiss”] In response to a shocking spike in the number of suicides by evicted homeowners, the Spanish government will implement a two-year eviction moratorium for “the most vulnerable homeowners unable to keep up with mortgage payments,” AFP reports.Deputy Prime Minister Soraya Saenz de Santamaria told reporters […]
Spain Puts A Moratorium On Evictions For ‘Vulnerable Homeowners’ After Spike In Suicides
Markets

Why The Most Prosperous Cities In The World Are STILL In Europe

[credit provider=”flickr/ MorBCN” url=”http://www.flickr.com/photos/bcnbits/2101901830/”] Despite being in the midst of the worst financial crisis since the formation of the European Union, Europe is still home to the world’s most “prosperous” cities.A new report from the United Nations Human Settlements Program (U.N.-Habitat) ranked the world’s cities on a unique prosperity metric, and 19 […]
Why The Most Prosperous Cities In The World Are STILL In Europe
Markets

ZULAUF: China Is Actually Growing At A 3% Rate

[credit provider=”GoldMoney Foundation via YouTube” url=”http://www.youtube.com/watch?v=JSfJR6yR7p0″] Swiss hedge fund manager Felix Zulauf believes everyone is overestimating China’s growth rates while underestimating its problems.Speaking at an investor conference sponsored by the CFA Institute in Prague, Zulauf said China is actually growing at a 3 per cent rate.  This is according to […]
ZULAUF: China Is Actually Growing At A 3% Rate
Markets

LAGARDE: Global Jobless Rates Are ‘Terrifying’

[credit provider=”Drudge”] Christine Lagarde has called for decisive action from world leaders to end uncertainties in the global economy that are prolonging “terrifying and unacceptable” levels of unemployment.Rounding on Europe and the US in particular, the managing director of the International Monetary Fund said this week’s annual meetings in Tokyo […]
LAGARDE: Global Jobless Rates Are ‘Terrifying’
Markets

GOLDMAN’S COHN: Only A ‘Small’ Chance The Euro Area Sticks Together

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Gary_D._Cohn_-_World_Economic_Forum_Annual_Meeting_Davos_2010.jpg”] Oct. 11 (Bloomberg) — Goldman Sachs Group Inc. President and Chief Operating Officer Gary D. Cohn sees a “small” probability that the euro area will stick together, saying it’s more likely that some countries will exit to pursue growth.”In federalism, you create a unified Europe, where […]
GOLDMAN’S COHN: Only A ‘Small’ Chance The Euro Area Sticks Together
Markets

European Markets Tanked

[credit provider=”Jamie McDonald/Getty Images)” url=”http://www.gettyimages.com/detail/news-photo/spain-fan-is-pictured-with-a-flag-ahead-of-the-uefa-euro-news-photo/81760846″] Markets in Europe got slammed today. However, they closed off of their lows.England’s FTSE 100 down 0.4%.
European Markets Tanked
Markets

The Idea Of A Eurozone Budget Gains Traction Ahead Of EU Summit

[credit provider=”Ralph Orlowski/Getty Images” url=”http://www.gettyimages.com/detail/news-photo/the-symbol-of-the-european-common-currency-the-euro-stands-news-photo/127296927″] BRUSSELS (Reuters) – Debate about the idea of creating a separate budget for euro zone countries is intensifying in the run up to an EU summit later this month, with less opposition to the proposal than many officials first expected, diplomats say.At a private dinner […]
The Idea Of A Eurozone Budget Gains Traction Ahead Of EU Summit
Markets

The Dismal Truth About Spain’s Desperate Economic Situation

[credit provider=”AP Images” url=”http://www.apimages.com/OneUp.aspx?st=k&kw=protest&showact=results&sort=date&intv=24h&sh=10&kwstyle=and&adte=1348659842&pagez=60&cfasstyle=AND&rids=9511f2e7b3ec40ac9a58e6bf756a65b7&dbm=PThirtyDay&page=1&xslt=1&mediatype=Photo”] While Europe watches and waits for Spain to submit a formal bailout request to the EU and the ECB, the economic situation on the ground there continues to deteriorate.Huge protests against austerity measures engulfed Madrid recently as angry voters displayed their discontent in the streets.
The Dismal Truth About Spain’s Desperate Economic Situation
Markets

Greece Is Feeling The ‘Straightjacket’ More Than Ever

[credit provider=”marcus_jb1973 on flickr” url=”http://www.flickr.com/photos/marcusjb/432600086/”] Awful as Greece’s GDP has been, it doesn’t do justice to the economic fiasco.Take new vehicle registrations: in August, they plunged 46.7% from prior year. Only 3,886 new vehicles were sold. A collapse of 80% from August 2008 at the cusp of the crisis. For […]
Greece Is Feeling The ‘Straightjacket’ More Than Ever
Markets

Five Looming Dangers That Could Tear The Eurozone Apart

[credit provider=”Abysim at www.flickr.com” url=”http://www.flickr.com/photos/abysim/4860128797/”] SpainSpanish prime minister Mariano Rajoy has battled for months to avoid the indignity of applying for a formal bailout from his European partners.
Five Looming Dangers That Could Tear The Eurozone Apart
Markets

This Is A Bad Sign For Europe

Earlier this morning, Markit published its Flash Eurozone PMI, a key indicator of economic activity.  And it was ugly.  The composite index fell to 45.9 from 46.3 in August.  This is a 39-month low.
This Is A Bad Sign For Europe
Markets

The European Debt Crisis Is No Longer The Biggest Worry Among Money Managers

[credit provider=”Wikimedia Commons” url=”http://en.wikipedia.org/wiki/File:StateLibQld_1_100348.jpg”] For the first time in over a year global investors think the U.S. fiscal cliff is more of a risk to the global economy than Europe’s sovereign debt crisis. This is according to a survey conducted by Bank of AmericaAnd more of them think the economy […]
The European Debt Crisis Is No Longer The Biggest Worry Among Money Managers
Markets

Ray Dalio On The Massive Deleveraging And The Dreadful Future Facing Europe

[credit provider=”CFR screengrab”] Hedge fund god Ray Dalio, who runs the highly successful Bridgewater Associates, spoke at the Council on Foreign Relations this morning with CNBC anchor Maria Bartiromo.The discussion covered a gamut of issues with Dalio giving long-winded answers on topics such as the U.S. debt, gold, China and the eurozone […]
Ray Dalio On The Massive Deleveraging And The Dreadful Future Facing Europe
Markets

JIM O’NEILL: Anyone Forecasting The Death Of The Euro Zone Should Consider 3 Things

[credit provider=”CNBC” url=”http://video.cnbc.com/gallery/?video=3000079936″] In his latest Viewpoints note, Jim O’Neill addresses the intense pessimism toward the Euro zone.”Amongst many arguments the bears understandably make, is one that whatever the determination of the ECB (and perhaps others), the underlying fundamentals for economic growth in the Euro zone are so negative that […]
JIM O’NEILL: Anyone Forecasting The Death Of The Euro Zone Should Consider 3 Things
Markets

It Looks Like Animal Spirits Are Being Unleashed In Europe

[credit provider=”coda on flickr” url=”http://www.flickr.com/photos/coda/1479423/in/photostream”] Is this what it looks like when animal spirits finally get unleashed? It appears that the desire to take a chance is coming back.Optimism seems to be breaking out all over the place.
It Looks Like Animal Spirits Are Being Unleashed In Europe
Markets

Former ECB President Trichet Explains His Plan To Save Europe

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Trichet_SGS.png”] The creation of Europe’s economic and monetary union is unique in the history of sovereign states.The eurozone constitutes a “society of states” of a completely new type, one that transcends the traditional Westphalian concept of sovereignty.
Former ECB President Trichet Explains His Plan To Save Europe
Markets

Eurozone Headed For Recession As Economic Rot Spreads

[credit provider=”en.wikipedia.org” url=”http://en.wikipedia.org/wiki/File:DecayingPeachSmall.gif”] The eurozone looks destined for its second recession in three years, as business surveys showed the economic rot is even spreading to Germany, the region’s largest and strongest economy.Markit’s Flash eurozone composite PMI, which measures manufacturing and services activity, edged up to 46.6 in August.
Eurozone Headed For Recession As Economic Rot Spreads
Markets

The Best Sentence You’ll Read About Ending The Eurozone Crisis All Day

[credit provider=”spanaut on flickr” url=”http://www.flickr.com/photos/cs___/203099199/”] A new note out from Citi’s Steven Englander tries to assess the latest state of play with regardes to ECB bond buying, the Greek situation, and so forth.It’s all solid, but the red highlighted line at the end is fantastic.
The Best Sentence You’ll Read About Ending The Eurozone Crisis All Day
Markets

The Outcome Of The Upcoming Dutch Elections Could Be Big For The Eurozone

[credit provider=”Andreas Rentz/Getty Images” url=”http://www.gettyimages.com/detail/news-photo/german-chancellor-angela-merkel-welcomes-dutch-prime-news-photo/106963948″] In Europe, attention is increasingly turning to the September 12 general election in Netherlands.The election bears more than just national importance because it could impact the handling of the eurozone crisis. 
The Outcome Of The Upcoming Dutch Elections Could Be Big For The Eurozone
Markets

Mark Your Calendar For These Global Market Moving Events In 2012

[credit provider=”Flickr / Nick Sherman ” url=”http://www.flickr.com/photos/nicksherman/540157227/sizes/m/in/photostream/”] Stocks and commodities are increasingly impacted by macro and geo-political events.We drew on Alastair Newton’s latest calendar of political events to pick the important ones to watch for the rest of the year.
Mark Your Calendar For These Global Market Moving Events In 2012
Markets

Merkel Ally Says No More Concessions On Greek Bailout Terms

[credit provider=”Sean Gallup/Getty Images” url=”http://www.gettyimages.com/detail/news-photo/german-chancellor-angela-merkel-awaits-the-arrival-of-heads-news-photo/145449139″] On Friday reports emerged that German chancellor Angela Merkel was preparing to ease concessions on Greek bailout terms.But a senior ally of Merkel, Volker Kauder, head of Merkel’s conservative bloc has told Der Spiegel that Greece cannot be offered any more concessions on the bailout. […]
Merkel Ally Says No More Concessions On Greek Bailout Terms
Markets

ROUBINI: The Eurozone Is Betting The House To Save The Garage

[credit provider=”flickr/World Economic Forum” url=”http://www.flickr.com/photos/worldeconomicforum/6770844689/”] NYU economist Nouriel Roubini is worried that Europe may be throwing good money after bad as it hooks up peripheral banking systems to ECB life support.In a new piece on Project Syndicate, Roubini points out that while European leaders are currently busy buying time while […]
ROUBINI: The Eurozone Is Betting The House To Save The Garage
Markets

German Businessmen Are Already Freaking Out About Possible Hyperinflation

[credit provider=”Magyar Nemzeti Múzeum Történeti Fényképtára, Budapest” url=”http://mek.oszk.hu/01900/01906/html/index1433.html”] BERLIN (AP) — An influential German business organisation is warning that proposals to allow the European Central Bank to buy up bonds of struggling euro countries could seriously damage the single currency.The ZDH, which represents some 5 million skilled craftsmen, said Friday […]
German Businessmen Are Already Freaking Out About Possible Hyperinflation
Markets

The Showdown Between Italian PM Monti And Germany Is A Lot Deeper Than You Think

[credit provider=”Guido Bergmann/Bundesregierung – Pool/Getty Images” url=”http://www.gettyimages.com/detail/news-photo/in-this-photo-provided-by-the-german-government-press-news-photo/147356183″] Analysts have been paying close attention to the relationship between Italian Prime Minister Mario Monti and German leadership since June.That’s when Monti and Spanish PM Mariano Rajoy refused to go along with EU summit plans unless German Chancellor Angela Merkel and other EU […]
The Showdown Between Italian PM Monti And Germany Is A Lot Deeper Than You Think
Markets

How The German Bundesbank Flouted Its Own Rules And Did QE

[credit provider=”Wikimedia Commons” url=”http://upload.wikimedia.org/wikipedia/commons/thumb/2/27/Hamburg_Bundesbank_Skulptur.jpg/635px-Hamburg_Bundesbank_Skulptur.jpg”] Bundesbank President Jens Weidmann has been one of the most outspoken critics of European Central Bank President Mario Draghi’s plan to buy sovereign bonds, a form of quantitative easing.Ironically, the Bundesbank itself side-stepped its mandate to buy public bonds on the open market back in 1975.
How The German Bundesbank Flouted Its Own Rules And Did QE
Markets

Now It’s ‘The Dissolution Of Europe’ At Risk, Not Just The Eurozone

[credit provider=”Flickr via bobalicious” url=”http://www.flickr.com/photos/bobaliciouslondon/5251504994/sizes/m/in/photostream/”] It has been an onslaught. Eurozone heads of state, top politicians, unelected kingpins, and bureaucratic honchos threatened everyone in sight with the demise of the euro, or promised to do “everything” or “whatever it takes” to save it even if it violated treaties or the […]
Now It’s ‘The Dissolution Of Europe’ At Risk, Not Just The Eurozone
Markets

For The European Crisis To End, This Is What Now Needs To Happen

[credit provider=”National Library of Scotland, Flickr” url=”http://www.flickr.com/photos/nlscotland/4699056915/”] Last week, European Central Bank President Mario Draghi laid out the framework for the next developments he wants to see in Europe.Considering how important the ECB has been in slowing the crisis, it is likely that the ECB will get what most of […]
For The European Crisis To End, This Is What Now Needs To Happen
Markets

REPORT: The ECB Is Extending Emergency Loans To Greece

[credit provider=”AP Images” url=”http://www.apimages.com/OneUp.aspx?st=k&kw=draghi&showact=results&sort=relevance&intv=None&sh=10&kwstyle=and&adte=1343871142&pagez=60&cfasstyle=AND&rids=b352ba1f7340497f9b076c821ae1401b&dbm=PY2011&page=1&xslt=1&mediatype=Photo”] BERLIN (Reuters) – The European Central Bank (ECB) has saved Greece from bankruptcy for the time being by securing it interim financing in the form of additional emergency loans from the Bank of Greece, German newspaper Die Welt said on Saturday.The ECB’s Governing Council agreed at […]
REPORT: The ECB Is Extending Emergency Loans To Greece
Markets

Draghi Just Staged A Dramatic Powerplay That Could Change Everything In Europe

[credit provider=”DrivingtheNortheast on Flickr” url=”http://www.flickr.com/photos/drivingthenortheast/7177307591/”] A lack of tangible action from European Central Bank President Mario Draghi yesterday sent markets hurtling downward.Today, however, they’ve rebounded after some analysts realised there was an upside to the remarks.
Draghi Just Staged A Dramatic Powerplay That Could Change Everything In Europe
Markets

REPORT: There Was Massive Internal Disagreement At The ECB Over Bond-Buying

[credit provider=”AP/Riccardo De Luca”] German newspaper Handelsblatt reports that seven members of the ECB’s Governing Council initially opposed President Mario Draghi’s plan to buy sovereign bonds in the open market, according to Marketwatch.Draghi outlined the ECB’s intent to step into the bond markets and purchase sovereign bonds in distressed countries […]
REPORT: There Was Massive Internal Disagreement At The ECB Over Bond-Buying
Markets

Spain Is Basically Cut Off From The Debt Markets

Spain held an auction today. It sold just over a billion of 10 year bonds, at what looks like an average price of 94.45. It sold 2 billion of other issues, but this is the most interesting one. The pricing was in line with where they were trading on the […]
Spain Is Basically Cut Off From The Debt Markets
Markets

EUROPE: What Happens Now

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:20091128_Loutra_Thermes_Xanthi_Thrace_Greece_2.jpg”] European Central Bank President Mario Draghi disappointed investors hoping for more central bank action to mitigate the effects of the sovereign debt crisis on Italy and Spain.Basically, he failed to announce any definitive measures at a press conference this morning.
EUROPE: What Happens Now
Markets

ECB KEEPS RATES UNCHANGED—All Eyes Ahead To Press Conference

[credit provider=”European Commission” url=”http://ec.europa.eu/avservices/photo/photoDetails.cfm?sitelang=en&ref=P-018816/00-08#0″] UPDATE: The ECB left its target rate unchanged at 0.75 per cent today.Believe it or not, this is just the prelude to a press conference later today, when the central bank could announce more potent policy measures.
ECB KEEPS RATES UNCHANGED—All Eyes Ahead To Press Conference
Markets

The ECB’s Game-Changing Solution To The Euro Crisis That’s Getting Closer And Closer

[credit provider=”Ralph Orlowski/Getty Images” url=”http://www.gettyimages.com/detail/news-photo/mario-draghi-new-president-of-the-european-central-bank-news-photo/131244333″] The European Central Bank will release its latest monetary policy decision tomorrow, and it’s likely to take some action to keep the financial system afloat for at least the next few month or so.A flurry of headlines recently suggest that EU leaders are working on […]
The ECB’s Game-Changing Solution To The Euro Crisis That’s Getting Closer And Closer
Markets

How To Know Instantly If Tomorrow’s ECB Decision Will Be A Disaster

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:D-BW-Jubilaeumsweg_Bodenseekreis-att001.jpg”] While analysts have been clamoring over a monetary policy decision from the Federal Reserve today, the more important decision will come from the European Central Bank tomorrow.The ECB Governing Council will meet in Frankfurt to discuss the bank’s latest policy action on Thursday, and according to […]
How To Know Instantly If Tomorrow’s ECB Decision Will Be A Disaster
Markets

MISH SHEDLOCK: Global Trade Will Collapse If Romney Wins

[credit provider=”Oli Scarff/Getty Images”] As markets continue to yo-yo and commentators deliver mixed forecasts, investors are faced with some tough decisions and have a number of important questions that need answering. On a daily basis we are asked what’s happening with oil prices alongside questions on China’s slowdown, which commodities […]
MISH SHEDLOCK: Global Trade Will Collapse If Romney Wins
Markets

Spain Released Some Awful Numbers Today

[credit provider=”Getty”] Spain’s banking system has suffered massive outflows of cash as investors become worried that the country will need a bailout and fragile banks count more and more troubled assets on their portfolios.The latest news from Spain isn’t reassuring.
Spain Released Some Awful Numbers Today
Markets

MORGAN STANLEY: Here’s Our Grim Outlook For Europe’s Key Economies

[credit provider=”Ralph Orlowski/Getty Images”] Morgan Stanley chief European economist Elga Bartsch and her team released updated forecasts for every major economy in and around the euro area today, and the future as seen through their eyes looks pretty dark for Europe.The continent, plagued by the ongoing euro crisis, is feeling […]
MORGAN STANLEY: Here’s Our Grim Outlook For Europe’s Key Economies
Markets

Europe Could Be Setting Itself Up For Massive Disappointment

[credit provider=”flickr/proimos” url=”http://www.flickr.com/photos/proimos/4199675334/sizes/o/in/photostream/”] Headlines generated by some promising statements from European Central Bank President Mario Draghi late last week have stirred investor belief that European leaders—and in particular the ECB—are about to announce some game-changing crisis-averting measures. Such action could happen as early as Thursday, when the ECB makes its latest […]
Europe Could Be Setting Itself Up For Massive Disappointment
Markets

The Future Of the Euro Remains Very Much In Doubt

[credit provider=”Mammal” url=”http://www.flickr.com/photos/mammal/3455272493/”] Last week Mario Draghi, the president of the European Central Bank, declared that his institution “is ready to do whatever it takes to preserve the euro” — and markets celebrated. In particular, interest rates on Spanish bonds fell sharply, and stock markets soared everywhere.But will the euro really […]
The Future Of the Euro Remains Very Much In Doubt
Markets

Germany Just Rejected The Idea That The European Bailout Fund Would Buy Spanish Debt

[credit provider=”AP/Manu Fernandez”] BERLIN (AP) — Germany’s finance minister is rejecting talk of a possible application from Spain for the eurozone’s bailout fund to buy the struggling country’s bonds, a newspaper reported Saturday.This week, European Central Bank head Mario Draghi promised to do “whatever it takes” to preserve the euro. […]
Germany Just Rejected The Idea That The European Bailout Fund Would Buy Spanish Debt
Markets

Reports Of Talks Between Mario Draghi And Bundesbank Head Signal That ECB Measures Are For Real

[credit provider=”AP Images”] Reports from Bloomberg that European Central Bank President Mario Draghi and Bundesbank President Jens Weidmann will meet to discuss new crisis-averting measures by the ECB suggest that rumours of new intervention are indeed real.Investors began speculating that Draghi was likely to restart a controversial bond-buying program and/or […]
Reports Of Talks Between Mario Draghi And Bundesbank Head Signal That ECB Measures Are For Real
Markets

GOLDMAN: The Creators Of The Euro Knew It Was Doomed From Day One

[credit provider=”Goldman Sachs” url=”http://www.goldmansachs.com/our-thinking/view-from/a-view-from-europe/index.html”] Goldman Sachs Chief European Economist Huw Pill exposes a terrible irony about the eurozone in a video filmed this month: at the signing of the Maastricht Treaty, both those who loved and hated the prospect of a European Monetary Union actually thought that the euro would […]
GOLDMAN: The Creators Of The Euro Knew It Was Doomed From Day One
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