bailout

I am off again this week and doing short duty on the blog. But I want to say a few words about the ECB and its impending monetisation plans given Mario Draghi's decision to pull out of the Jackson Hole event sponsored by the Kansas City…

By Sober Look As expected, more of Spain's regions are asking for a bailout. The program to help the regions was set up in July (see discussion) to create Spain's internal version of the "Stability Bond". With the regional fiscal problems…

Note: I missed a few articles here, so I may be updating this post with them later today. Or I may put them in the next daily links post As I said last year about the Troika's coming occupation of the periphery, none of these countries is…

I just wrote up a post on Goldman's thoughts on coming ECB policy moves. Goldman's musings are credible because the author is their chief European economist, who was until a year ago at the top of the ECB's Monetary Policy Stance Division.…

Editor's Note: this post has been corrected to reflect a different interpretation of the Goldman analyst's remarks. Ex-ECB economist Huw Pill agrees with many of us that the ECB is unlikely to engage in explicit rate targeting when it…

The big theme in today’s links is the ECB yet again. With the interview with Joerg Asmussen out, backing Mario Draghi’s previous statements, it is now more clear than ever where this is headed in Europe. The lead story here from Ambrose…

A while ago I posted a translation of Joerg Asmussen's Frankfurter Rundschau interview and my interpretation of his commentary. Here is the rest of the translation and some commentary. There are to be bond purchases once more. What makes…

An extremely important interview with ECB board member Joerg Asmussen was carried in the Frankfurter Rundschau recently. Below is a translation with key bits highlighted. Afterward I will interpret his remarks in light of ongoing…

This week's second weekly-length post is just another review of the Price Waterhouse Coopers study that is big news in the German press. I have now seen the numbers in a bit more granular detail and I wanted to run through them for me…

Some maintain that Italy and Spain risk losing market access for their sovereign bonds despite drops in yields. A recent Vox column by Francesco Giavazzi suggested that Italy could and should avoid a bailout. This column argues that in…