bailout

Yesterday, Paul Krugman wrote: Portugal’s government has just fallen in a dispute over austerity proposals. Irish bond yields have topped 10 percent for the first time. And the British government has just marked its economic forecast…

The resilience of the euro in the face of seemingly incontrovertible evidence that Portugal will need to get assistance and that very same program and approach has not been enough to stabilize the Greek and Irish situation is amazing.…

Today it was revealed that last week the Federal Reserve rejected Bank of America's plan to increase its dividend from its token penny a share in the second half of 2011. Clearly, the Fed is sending a message that it does not believe the…

Reuters has reported that the parliament in Portugal will likely reject the socialist government's austerity budget, a move which will precipitate the collapse of that government, new elections and a likely bailout by the European Union.…

This is just in from Bloomberg: The Federal Reserve must disclose details of emergency loans it made to banks in 2008, after the U.S. Supreme Court rejected an industry appeal that aimed to shield the records from public view.…

European officials have reached an agreement in principle that falls well shy of the “comprehensive plan” officials had promised and is unlikely to provide investors with a sense of closure to the debt crisis that began in late 2009. Yet…

Portugal does not appear to have had the boom that Ireland and Spain had. Portugal's problem is the chronic grind loss of competitiveness due to high costs and low productivity. We note that Portugal's latest inflation reading of 3.6% in…

The German strategy appears to be rudderless at the moment. It is not clear what concessions it can elicit in exchange for offering a "comprehensive" solution to the debt crisis. Getting rid of wage indexing,a constitution amendment to…

By Win Thin Portugal remains in the market spotlight as its 10-year yield remains above 7% for the 10th straight day. Furthermore, today Portugal’s 5-year yield broke above 7% for the first time and continues the pattern that we saw with…

Noam Scheiber's recent article on Tim Geithner is a good piece for understanding Geithner's thinking. He wants American banks to penetrate emerging markets and get even bigger. How this benefits the U.S. economy is unclear, however. It…