Author

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.

Political Economy

Rogoff sees ECB monetisation followed by recapitalisation or seigniorage and currency depreciation

Edward Harrison Nov 3, 2011

Harvard Economist Kenneth Rogoff has a post up at Project Syndicate which does a good job in laying out the conundrum that Europe faces in the sovereign debt crisis. He theme is exchange rates and currency revulsion. But the underlying…

Political Economy

If Greece left the euro zone, it would have to leave the EU

Edward Harrison Nov 3, 2011

"The treaties indeed confirm what we have been saying here: the treaty doesn't foresee an exit from the euro zone without exiting the EU, so indeed that is the current situation." -European Commission spokeswoman Karolina…

Economy

How austerity in Europe works

Edward Harrison Nov 3, 2011

This post describes how austerity works in the European Monetary System where the euro is used as a currency. I will start by framing the difference between currency users and currency creators, then move to how central banks and government…

Monetary System

The money scoreboard

Edward Harrison Nov 3, 2011

This post is intended to be a hopefully brief synopsis of how the monetary system works using an Austrian framing with MMT terminology. If you don’t know what that means, you’ll see what I mean as I proceed. MMTers like to say that money…

News

News Links: Euro stability more important than Greece

Edward Harrison Nov 3, 2011

Euro stability more important than Greece, says Angela Merkel | Business | The Guardian Merkel said: "We would rather achieve a stabilisation of the euro with Greece than without Greece, but this goal of stabilising…

Political Economy

In October, Greek officers stormed defence ministry

Edward Harrison Nov 3, 2011

I had been willing to dismiss the rumours that Greece was forestalling a military coup. Others have since said the change in top brass is standard protocol for a Greek government preparing for its potential loss of power and that the…

Political Economy

An outline of critical events affecting Greek Referendum

Edward Harrison Nov 3, 2011

Now that we have had a chance to digest the information from last night, there are a number of developments to report on the Greek situation which are relevant to unravelling likely scenarios going forward. Here is my synopsis of what has…

Economy

Sixty percent of China’s rich want to leave the country

Edward Harrison Nov 2, 2011

Sixty percent of the rich Chinese people have said they intended to migrate from China in a recent poll. What would that mean for FX reserves, interest rates and the economy?

Political Economy

France and Germany to withhold aid, Greece to be ejected?

Edward Harrison Nov 2, 2011

This move puts a whole train of future moves in motion, in my view. The Greek people will be apoplectic at this tactic. They will reject the bailout in a referendum out of spite. Greece and its banks will be insolvent. Meanwhile, the run on…

Business

Video: My Blackberry is not working

Edward Harrison Nov 2, 2011

Stuff like this is a very bad sign for Research in Motion as their share of the mobile handset market has plummeted to 9%. Shares are at a seven-year low.

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