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The Dutch join the Germans in rejecting bailout of Greece
The Dutch have now also signalled a firming opposition to a bailout of Greece, adding to the chorus of voices in Germany which are categorically against such a move. While I had previously said some sort of support could be…
Chart of the Day: Banking Compensation
Source Banking Compensation – St. Louis Fed
Mauldin: Between dire and disastrous
I will be away all week, so I will have a number of guest contributions in that time. Here is a great one from John Mauldin, who I frequently publish. At the bottom is a blurb on how to subscribe to his newsletter. It is worth…
Just what is the real level of government debt in Europe?
This is a post by Edward Hugh, who also blogs at Global Economy Matters. “If you don’t fully understand an instrument, don’t buy it.” To the above advice from Emilio Botín, Executive Chairman of Spain’s Grupo Santander, I would simply…
Greece: How to induce yet more capital flight
Update: 2010-02-24. The Wall Street Journal has picked up on this theme. See Wealthy Greeks Send Money Abroad. The point is that the taxation rules are not necessarily going to increase taxes. They will, however, increase capital flight.
Few Surprises As Greece’s Economic Contraction Accelerates
Edward Hugh here. Well, I may say there were no surprises, but in fact the Greek economy contracted more than many observers expected in the fourth quarter, while downward revisions to the rest of 2009 converted the present recession into…
Links: 2010-02-13 – FDIC, Iceland, LA bankruptcy and more
Debt sustainability: Not so risk-free | The Economist Spain's economic stagnation: The zapping of Zapatero | The Economist Race in America: Move your shadow | The Economist Greece must follow Ireland to solve fiscal woes —…
The week in review at Credit Writedowns: 2010-02-13
Most Read Roach: "weak, anaemic, fragile, potential vulnerable to a double dip” Chandler: Policy makers are repeating the mistakes of the 1930s Unprecedented moral suasion from regulators on small businesses lending John…
Eurozone Q4 GDP Growth Disappoints
Claus Vistesen here with a first post on Credit Writedowns. GDP releases are, by their very nature, lagging indicators and thus do not tell us a whole lot about the current momentum in an economy. Moreover, the immediate focus of attention…
The Long Run Dollar Outlook
The great Lebanese poet Kahlil Gibran once wrote that sometimes the mountain is clearer from the plane than the summit. This insight may be applied to the foreign exchange market. Currencies in the modern era, not backed…