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Greek financial debacle threatens Swiss banks
There are a lot of interlocking threads in the Greek saga. One consistent theme that ties all of the different threads together is the fragility of complex systems. In our globalized and complex world of finance and banking, every major…
Video: Stiglitz and Hendry debate the Greek bailout
Part 1 below is background and analysis Part 2 is where Hendry and Stiglitz talk bailout with the Spanish Ambassador to the UK. Sparks do fly.
The Atlantic: A new jobless era is transforming America
The Atlantic has an epic piece on employment trends in America in this month’s issue. This is a must-read piece of journalism, not just for the anecdotes and analysis of this particular downturn, but also for its statistics and…
Handelsblatt: Bilateral aid and EU aid to Greece off the table
The EU is working feverishly to solve the Greek sovereign debt crisis. Yesterday, in an article in the German-language Financial Times Deutschland, CDU/CSU Bundestag Fraktionschef Michael Meister (the equivalent of Nancy Pelosi in America)…
Chandler: Uncertainty and contagion at work with Greece
Marc Chandler had some good comments on the Greek debt crisis this morning. The main issues, he believes, are contagion and uncertainty, especially as it pertains to sovereign debt infecting the private sector and vice versa. He said:…
Obama: bank executives making millions "is part of the free-market system”
President Obama made a couple of comments in an interview with Bloomberg BusinessWeek that, while potentially true, point yet again to someone out of touch with populist rage in America. It seems that Obama is still courting big…
Links: 2010-02-10 – Greece, Google and Germany
I have read a number of accounts in European newspapers. I am surprised at how many of them simply parrot the Financial Times Deutschland article about Germany bailing out Greece – a line which was later denied by the Germans. Some…
Latvia’s economy contracts almost 18 percent in Q4 2009
This post was originally published at A Fistful of Euros. Well, as we say in English, it never rains but it pours. Latvia, which has had the deepest recession of all 27 European Union member states, contracted by nearly 18 per cent in the…
Snowed in in Snowmaggedon: time lapse version
I have shovelled snow for three days straight now. We got over 20 inches (50 cm) on Friday and Saturday. Yesterday morning, I went out for a brief drive to the grocery store. I was astounded how badly the major roads were plowed. There were…
Links: 2010-02-09 – Greek debt, Brazilian bonds, Chinese currency and more
Greek banks' short-term funding options narrow | Reuters Huge Nexus One ETF Magically Shrinks As FCC Investigates - The Consumerist Berlin will Griechenland retten - FTD.de Unforced Error at Salon : CJR Anatomy of a Euromess - Paul…