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Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

Daily

Daily: On Amazon’s reach and Apple’s aggressive moves to stop Android

Edward Harrison Jul 13, 2012

The FT has a great story on Amazon out today that is a must-read. It chronicles how deeply Amazon has become embedded in the architecture of the retail world in today's digital age. In the other bit of tech news that I thought noteworthy,…

Daily

Daily: Data not really pointing to recession outside of Europe

Edward Harrison Jul 12, 2012

Most of the links are about Europe as usual but I think the breadth of news today is good. I would like to highlight the conflicting economy stories out there. While Europe remains mired in recession, the rest of the world is still…

Members

On euro weakness and capital flight out of the euro zone

Edward Harrison Jul 11, 2012

The large increases in Target2 imbalances at the heart of the euro zone's banking system are widely considered not just a risk to national governments in the event of a eurozone breakup, but also a sign of capital flight. We have seen the…

Monetary System

Europe will need to accelerate implementation of its bail-in and bank resolution scheme

Edward Harrison Jul 11, 2012

As I wrote regarding the Spanish bank bailout just now, large losses at European financial institutions likely mean that equity will be wiped out. Government will then need to decide how the losses will be paid for. In Spain's case, the…

Members

Following the US bailout model will create losses for Spanish bank preferred and sub debt

Edward Harrison Jul 11, 2012

In Spain, it is well-known that many of the financial institutions need more capital. However, the question is how much capital. Spain has run dubious quality stress tests that say the banks need less than 40 billion euros. Others believe…

Economy

Where Achuthan does explicitly say the recession would begin in Q3 or Q4 2011

Edward Harrison Jul 11, 2012

I would love to see ECRI explain why they have changed the date when they felt recession would begin and whether this means they were wrong in forecasting recession in 2011. yesterday, I said " I don’t think Achuthan is changing his story…

Members

Why the Spanish Memorandum of Understanding is a disaster for Spain and Europe

Edward Harrison Jul 11, 2012

We now know that Spain has received a standard bailout package like Greece, Portugal and Ireland before it despite attempts by the Spanish government to dress this bailout up as something different. Below is a quick analysis of just what…

Daily

Daily: More on the unravelling of Europe’s summit agreement

Edward Harrison Jul 11, 2012

The European Summit which saw an agreement in principle to recapitalise Spain's weakest banks has unravelled in an alarming way. This setback for the Spanish economy and the Spanish government will mean a loss of market funding for Spain.…

Economy

Rajoy’s humiliating defeat to Merkel narrows options to sovereign bailout, monetisation or…

Edward Harrison Jul 11, 2012

German Chancellor Angela Merkel is a brilliant political tactician. After the latest EU Summit, it seemed she had capitulated after being rounded on by France's Hollande in an effort by Italy's Monti and Spain's Rajoy to prevent the market…

Economy

Is ECRI changing its story on predicting a US recession?

Edward Harrison Jul 10, 2012

I have Bloomberg copy and a video of a recent performance by ECRI's Lakshman Achuthan on Tom Keene's show. A lot of people have been pouring scorn on business cycle forecaster Achuthan because of his company's recession forecast. I suspect…

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