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Yearly Archives
2013
The Economy in the United States and the United Kingdom
Quick note here on the US and the UK to change things up a bit from the Cyprus obsession.
De Grauwe: Euro area in ‘deep trouble’
Paul De Grauwe, a professor at the London School of Economics, told Tom Keene on "Bloomberg Surveillance" today that the euro area is at risk because "so many big mistakes have been made." De Grauwe went on to say that the "ineptitude of…
When do we call it a solvency crisis?
This post is extracted from my newsletter sent out four weeks ago, at a time when the mood in Europe was much better than now and when there was even a sense that the crisis was in the process of being resolved. I mention this to remind…
On why the ECB is cutting off Cyprus on Monday
The latest information on Cyprus is that the ECB has told the Cypriots it could no longer extend the ELA facility being used by the now bankrupt Cypriot financial institutions. Cyprus has until Monday to find the funds to support their…
Full text: European Commission statement on Cyprus
The European Commission issued the following press release after the Cypriot Parliament rejected a proposed bank levy to recapitalize its banking sector.
US small and medium-sized banks hit by interest rates
According to an analysis by Reuters, small and medium-sized banks in the US have started to take on risk as the squeeze in net interest margins is beginning to hurt profitability. The goal is to boost returns despite the low-interest rate…