The Eurozone debt crisis statement
The full statement from the EU without commentary
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Browsing Tag
bailout
The Sovereign Debt Crisis and Currency Sovereignty
This post is a prelude to a BBC interview on the sovereign debt crisis. I am not going to answer financial Armageddon questions about "what oif it all goes pear-shaped" here because to understand where things are headed you need to know how…
Europe: Don’t Forget about the Sixth Man
Speculation of some agreement has helped lift the euro, peripheral bonds, and generally has underpinned the risk appetite in recent days. This leaves the market vulnerable to disappointment or a "buy the rumor sell the fact" type of…
Blanchflower: Contagion may spread to France
Contagion in the sovereign debt crisis has already spread to Spain and Italy. David Blanchflower believes it may spread yet further to France. On Bloomberg, Blanchflower led off saying this would not be surprising, pointing to the dithering…
Sources: Euro bailout package must be doubled for Italy
Multiple news sources are reporting about a secret meeting due to take place on Monday amongst European officials to discuss the deepening sovereign debt crisis that has now spread to Italy. Below is my translation of an article in German…
The European project is doomed without reform
Europe is in a dire situation. If it doesn't address the underlying causes of the Greek crisis quickly, Europe's political project will face the same fate as communism and the US Confederacy, writes James K. Galbraith.
What Happens Next?
The question is not whether Greece will default but what will happen once it has. If Greece defaults but stays in the euro, not only will it not solve the underlying lack of competitiveness, but markets will immediately turn their attention…
Now What?
As had been anticipated, the Greek parliament has approved the austerity measures along party lines. The parliament will vote on the implementation bill tomorrow. This may be a bit stickier, but it too is likely to pass. Assuming so,…
My Thoughts on the French Restructuring Plan for Greece
I want to take a look at the latest news concerning the Greek situation using the political framework I laid out earlier in the month.On the whole, things are proceeding pretty much as anticipated.
Plus ça change – LDC edition
This blurb from Paul Krugman and Robin Wells' review of Jeff Madrick's book on the credit crisis sums up why the busts keep getting bigger