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Links: On price stability, mobile competition and the European crisis
Links from the past couple of days featuring articles on price stability, mobile competition and the European crisis and much more.
Daily: Europe moving from smaller bailouts plus austerity to bigger bailouts plus austerity lite
Germany, Spain, Italy and France have met to hammer out a unified front ahead of the upcoming European summit and Spanish bailout. This is likely a fleshed out version of the G-20 plan that Barack Obama was privy to. Their answer is the 120…
Full text: Moody’s downgrades firms with global capital markets operations
Editor's note: Moody's released the following press release in relation to actions it took on banks with global capital markets operations today.
Daily: Does Microsoft have its mojo back?
In the tech world the big news is Microsoft's unveiling of the Surface Tablet and Windows Phone 8 on back to back days. There is a lot of positive buzz around these two initiatives. The question, of course, is whether it will vault…
The ECB’s Bagehot Rule Policy
This week I am doing the weekly newsletter in two parts, both outside the paywall. This is part two. Previously, this column argued that it was folly for the euro zone to take the bailout and austerity approach because it risked breaking…
Why Germany cannot save the euro
This week I am doing the weekly newsletter in two parts, both outside the paywall. This is part one. As Charles Wyplosz has recently written, the euro zone's rescue strategy adopted in May 2010 has failed. Like his column, this column…
The Eurozone’s May 2010 bailout strategy is a disaster
The EZ rescue strategy adopted in May 2010 failed to restore debt sustainability, avoid contagion, or reduce moral hazard. This column argues that a volte face is needed. The debt of Greece, Portugal and Italy – and perhaps Ireland, Spain…
QE wouldn’t have made any difference because lower rates won’t fix the economy
The big news in the US today was the Federal Reserve's Open Market Committee's decision to extend its simultaneous purchase of longer-dated Treasuries and sale of shorter-dated ones. This effort, dubbed Operation Twist, was set to expire at…
Daily: Android’s standard bearer is the new Samsung’s Galaxy S3
Tomorrow, the Samsung Galaxy S III goes on sale. There has been a lot of hubbub about the phone and all of the reviews have been positive. Likely, this will be a monster sales driver for Samsung.
Debating growth in China
Perceptions have certainly changed a lot in the last few months. As recently as three years ago there were so few analysts who were skeptical about the sustainability of Chinese growth that we rarely disagreed among ourselves. Now, however,…