The Exciting Adventures of Middle Man
For you political junkies, I ask: doesn’t this have the ring of truth to it?
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Willem Buiter: The EU must increase the size of its bailout fund
In the last post on the EU, I said that the EFSF is too small. Basically, only the ECB has unlimited liquidity in its arsenal to deal with contagion to Spain and Italy. Willem Buiter agrees and has spoken to Bloomberg about his analysis of…
Google Plus Growth
Remember when I said that Google would get to scale "much,much faster than Facebook? Well this chart shows you this quite vividly. Wow!
Countries most exposed to Greece
France and Germany have the greatest exposure to Greece and their banks are expected to be the one’s with the lion’s share of the losses in the voluntary debt exchange deal. Here is a chart from the BBC below, detailing the exposure to…
What the European Greek debt deal means
This step will calm markets – for how long is anybody’s guess. Nevertheless, the budget cuts that this deal requires must be rapid in order to try to calm markets by maintaining the fiction that Greece is not insolvent and that the…
The Eurozone debt crisis statement
The full statement from the EU without commentary
Links 07/22/2011
Greece to default as EU agrees €159bn bailout - Telegraph
tags: Greece bailout sovereign-debt-crisis
Germany and France agree bond buyback plan for Greece, but rule out tax on banks - Telegraph
tags:…
The Sovereign Debt Crisis and Currency Sovereignty
This post is a prelude to a BBC interview on the sovereign debt crisis. I am not going to answer financial Armageddon questions about "what oif it all goes pear-shaped" here because to understand where things are headed you need to know how…
Worrying weak macro trends in China, US and Europe
Economic growth warning signs are evident all around in recent data from the US, Europe and China. This should mean negative earnings surprises by Q3 earnings season.