The ECB will act to avoid a deflationary spiral
Whatever the case, the ECB will have to act in order to avoid the dangers of a deflationary spiral, which could take the Eurozone years (or even decades) to exit.
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Yearly Archives
2013
On Latvia and Ireland as austerity models
Earlier in the week, ECB German board member Jörg Asmussen delivered a speech on the challenges of the economic crisis for countries in Central and Eastern Europe. The part which caught most people's eyes was his commentary on Latvia and…
Enrico Letta’s Italy
The first left-right coalition in Italy since 1946 has survived its first confidence motion in both chambers. As difficult as it may have been to break the political logjam, the hard work lies ahead for Prime Minister Letta.
Slovenia cut to junk by Moody’s; outlook negative
Moody's Investors Service released the following statement in conjunction with a ratings action it took today on Slovenian sovereign debt.
On the Italian Prime Minister’s view of austerity
Italy's new Prime Minister Enrico Letta is touted as a man who could change the politics of the EU. The Daily Telegraph in the UK even headlines his initial policy speech as "Italian PM Enrico Letta urges move from austerity to growth". But…
On why the German EU positions will change after the German General Elections
A recent FT article points out that the electoral campaign positioning has already started. And it has the Social Democrats in bed with the Green Party to an unusual degree. The way the Greens and the SPD are talking makes me believe it…
Spain: Running from the Bulls?
There have been three recent developments in Spain: the new record high unemployment, the earnings reports of several large banks, and the government's new fiscal forecasts and strategy.
Spanish 10-year yields continued to trend lower…