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Browsing Category
Political Economy
Europe is headed to a blood in the streets outcome
My takeaway from two days in DC is that Europe is headed to a blood in the streets outcome. While ECB funding remains ongoing even as it’s uncertain, in any case, the underlying theme remains austerity. There is no plan B.
More on what I think will happen in Europe
The prevailing view amongst euro area policy makers seems to be that saving Italy from default is necessary and that the only politically justifiable way to effect this rescue is to move to fiscal integration. All of the statements by…
The ECB is Open to Extending Its Role in Debt Crisis
Mario Draghi has become explicit about what it will take for the ECB to have a more active role in the European sovereign debt crisis.
Managing the 99 Percent
The McCourtny Consulting Group: We are witnessing a simmering backlash in the face of the widening class distinction. It is wise to address the fundamental issues behind the backlash and consider approaches to deal with the problem,…
France and Germany want the stability and growth pact hurdle to move to zero percent by 2016
According to Spanish website Cinco Dias, France and Germany want to move from a 3% deficit target to balanced budget by the year 2016. This aim points to a clear intention by the two countries to present a deal on fiscal integration and…
Likely policy path for European sovereign debt crisis
Given the flurry of activity this past weekend in the euro zone, it seems clear that the Europeans have pushed the panic button. I anticipate that some sort of systemic response is likely in order to deal with Italy (and Spain), two large…
More Thoughts on Euro Zone End Game Scenarios
The euro zone finance ministers meet today and tomorrow. Approval of the next tranche of aid to Greece and an agreement on EFSF leveraging is sought. Yet the real deal is still a week away and that is EU summit.
A year ago, we…
Video: Mockumentary Presents: Politics in America
An in-depth (and cynical) look at the current political environment in America, from the Occupy Wall Street protesters to the President's reaction to the Republican Primary via Omid Malekan, creator of the Quantitative Easing Explained and…
Why the IMF thing works for the euro
Editor’s note: the IMF musings would be difficult politically, especially in the US. And any deal for Italy would also have to involve Spain too. However, Perhaps most important, operationally, the ECB lending to the IMF, which then lends…