austerity

Foreign-language economic and finance links for 26 November

Pacific Investment Management Co.’s Chief Executive Officer Mohamed A. El-Erian told Bloomberg TV’s Betty Liu and Dominic Chu this morning that U.S. economic conditions are “terrifying” as the nation struggles to recover from recession.…

While Spanish Prime Minister-elect Mariano Rajoy was preparing for continued austerity in Spain, his Popular Party colleague, Former Spanish Prime Minister Jose Maria Aznar, was talking to Bloomberg Television about the outlook for his…

New governments in Greece and Italy have brought no real relief to the financial markets. There are forces in motion that are not about which personality or interest group is implementing the various austerity programs. Spain is…

Need to Create? Get a Constraint | Wired Science | Wired.com One of the many paradoxes of human creativity is that it seems to benefit from constraints. Although we imagine the imagination as requiring total freedom, the reality…

Marshall Auerback was on Fox Business talking about the European sovereign debt crisis. He said he is very concerned not just about the national solvency problem in the euro zone but also about the debt deflationary policy remedies now…

Pressure is mounting on Spain. The 10-year yield today is essentially back to where it was when the ECB broadened its sovereign bond purchase scheme to include Spanish and Italian bonds. On Oct 27, the 10-year yield was near 5.33%. Today it…

As for Italy itself, the country runs a primary fiscal surplus. As George Soros has noted: “Italy is indebted, but it isn’t insolvent.” Its fiscal deficit to GDP ratio is 60% of the OECD average. It is less than the euro area average. Its…

I continue to predict that Europe will move to change its constitution to include greater fiscal integration but also include explicit mechanisms for countries to leave the euro area.

This is a translation from a Handelsblatt interview with Amgela Merkel. MUST READ.