bailout

On Tuesday night, I spoke to Amanda Lang and Kevin O'Leary about Greece. The question was whether they were going to default and leave the euro zone. My response is that the euro zone is not ready politically for a default and so I think…

The US dollar continues to rally as uncertainty over the fate of Greece boosts demand for safety as the Greek tragedy is spinning into a farce.

I am not particularly shocked or worried about the cancelled European finance ministers meeting. I still think this bailout gets done because Europe and the markets are not prepared for a disorderly default and politicians cannot risk the…

Despite the Greek parliament's approval of austerity measures, there is still considerable uncertainty in the Greek situation. This post outlines many of the issues still up in the air.

This post is a continuation of the ideas for a Greek exit for the euro zone that I published on Friday incorporating specifics that Marshall Auerback has laid out in a separate post and demonstrating why exit is the likely option.

The austerity regime being adopted throughout Europe, by surplus and deficit countries alike, amid deleveraging, begs the question of where will aggregate demand come from? Moreover, iIf Greece can lower its debt burden by transferring some…

The decision for Europe’s bosses is this: they must ultimately confront the consequences of their policy choices. They can destroy the eurozone by continuing with the same failed mix of policies or by salvaging it by adding what has been…

This is how it's going down in Greece right now. The sentiment is very Anti-German on the eve of the austerity/bailout decision. The debt haircut and writedowns coming of upwards of 50% is a default in everything but name. Technical default…

the banks now browbeat governments – not by having ready cash but by threatening to go bust and drag the economy down with them if they are not given control of public tax policy, spending and planning. The process has gone furthest in the…

We think markets are getting too bulled up on the IMF headlines today. As the saying goes, “Show me the money!” Until then, we remain skeptical that the IMF will be able to obtain the extra funding it desires. Even if the IMF does get the…