2013

Moody's Investors Service has today affirmed the Republic of Ireland's Ba1/Not Prime government bond ratings and negative outlook.

"With the current policy, will need force to keep it going against the interests of the people. You do not need to be a eurosceptic to conclude that such a monetary union is also deeply immoral." - Wolfgang Manchau, Eurozone Break-Up Edges…

News links for 28 Mar 2013

By Edward Hugh According to the Economist’s Buttonwood, “desperate times require desperate measures”. I am sure this is right, times in Spain are certainly getting desperate and many of the measures being implemented in Brussels, far from…

News links for 25 Mar 2013

Here are some quick points on the Cyprus deal which the Eurogroup agreed to last night. The agreement outline is very much along the lines of what I have been recommending regarding bail-in guidelines and is therefore a much fairer deal…

The Cyprus bailout deal has the following terms as approved by the Eurogroup:

Editor's Note: The Eurogroup released the following statement moments ago in connection with the banking and sovereign debt crisis in Cyprus. The Eurogroup has reached an agreement with the Cypriot authorities on the key elements necessary…

News links for 24 Mar 2013

It occurs to me that the sovereign debt levels in Cyprus are unsustainable. As I have said previously, I believe this will lead to a government bond default. And given that capital controls already exist, the move to eurozone exit is much…