bailout

The unscheduled meeting between several euro zone finance ministers, Eurogroup head Juncker, EU Monetary Affairs Commissioner Rehn, ECB President Trichet and a few other senior officials was important. It marks the official recognition that…

Voters in Iceland have rejected their government’s attempt to foist on them the costs of bailing out foreign creditors. Should voters in Ireland too?

Below is a PDF copy of the Portuguese Memorandum of Understanding for the EU - IMF bailout. Portuguese interest rates have fallen somewhat on the news of the bailout, to the lowest levels in fifth months.

The Fed chairman is now crafting the Fed's public image just as politicians do. The press conference is a part of that pubic relations campaign. What should we expect then?

I can no longer say that not a single senior executive of one of the major nonprime lenders whose frauds hyper-inflated the housing bubble and caused the Great Recession has been convicted of his frauds. A single senior executive of one of…

Over the last three decades the US financial sector has grown six times faster than nominal GDP. This column argues that there comes a point when the financial sector has a negative effect on growth – that is, when credit to the private…

In the wake of a sovereign debt ratings downgrade by the rating agency Moody's, Portuguese five-year bonds are trading with a yield of 10%. As a result, Portugal has leapt over Ireland into fourth place on the credit default swaps list of…

I was on CNBC's Power Lunch yesterday talking about European debt markets in the wake of the Irish stress tests. I certainly think the Irish stress tests were a significant event. But the Euro Crisis is really all about Spain.

In September 2008, the Federal Reserve let banks turn more than $118 billion in junk bonds, defaulted debt, and other securities into cash. The role of a central bank in a crisis is to act as a lender of last resort by helping market…

After more than a year since the European debt crisis began, officials have still failed to resolve it. They raised expectations for a “grand bargain” only to crash them on the shoals of political reality. The March 24-25 Summit was to…