bailout

The Slovaks have apparently balked at the Greek aid package hammered out in crisis this past weekend.  While they have not formally rejected the package, the Slovak Prime Minister has said he cannot grant Greece a loan before it…

While Angela Merkel is off trying to sell the Greek aid package to German voters in the run-up to a crucial regional election in Germany, the markets have already voted on the 110 billion Euro EU/IMF deal: thumbs down. Win Thin of Brown…

The results are in from the poll on Greek sovereign bond default. To the question of "Will Greece default?" a plurality said "Yes, but they will stay in the euro-zone after a managed restructuring." Another 26% answered…

The EU-IMF package came in at 110 billion euros (80 from the EU and 30 from the IMF). It is designed to see Greece through to 2014 for the stability and growth pact 3% deficit hurdle, not 2012 as had been anticipated by many. After news of…

Regular readers know that, while I have a little of what Marshall Auerback calls deficit terrorism in my DNA, I fully support fiscal stimulus as a means to arrest a deep downturn.  The horrendous Keynesian nightmare My move into…

David Rosenberg is sick and tired of what I call the all bailouts all the time mentality. He writes in today's Breakfast with Dave piece: Ban the Bailout First we have governments bailing out banks (and auto companies and mortgage…

he money that the government spends on a failed modification goes to banks, not homeowners. Typically, the government will have substituted an FHA insured mortgage for the original mortgage issued by a bank. This means that when a…

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Highlights The US dollar has surrendered earlier gains that pushed the euro lows not seen in nearly a year, just above $1.3200, before reports spurred speculation that Greece will seek to activate the backstop facility.  The euro…

Are 'Austrians' Self-Hating Keynesian Economists? - Coordination Problem Greek Bailout, Lehman Deceit, And Tim Geithner - The Baseline Scenario Lehman Used ‘Alter Ego’ to Transfer Risks - NYTimes.com World oil demand to hit record high…