crisis

Bundesbank President Weber has been the most candid to date about what the ECB could do in case Greece is downgraded again, especially by Moody's.  Recall the problem:  Prior to the crisis, the ECB would take as collateral only…

We have a bit of a divide developing between the EU and the U.S. on banking and bank reform. The most significant move in this tiff has come in retaliation for Wall Street’s role in helping countries like Greece hide their debt burdens.…

I have taken a less optimistic view of the credit crisis’ workout phase as evidenced by recent posts like Wood: “The endgame will be a systemic government debt crisis in the western world” and The mindset will not change; a depressionary…

One of the more surprising announcements of support for a bailout of Greece comes from none other than Theodor Waigel, the former German Finance Minister who invented the Stability and Growth Pact. While Greece was able to successfully roll…

Detroit homes sell for $1 amid mortgage and car industry crisis | Business | The Guardian Aides say Coakley will seek reelection as attorney general – The Boston Globe Depression’s Upside – NYTimes.com Bankruptcy looms, Greek PM…

The following is a Wall Street Journal video on the sovereign debt crisis in Greece. Also see the associated article in the Wall Street Journal: Greece Set to Outline New Austerity Measures Wednesday.

The Wall Street Journal is reporting that a plan to bail out Greece to the tune of $41 billion is now being formulated by Germany and France. It might seem as if a bailout is inevitable and that the terms of such a bailout are the only…

A parable about how one nation came to financial ruin. – By Charles Munger – Slate Magazine New York State of Disrepair – WSJ.com Liz Pulliam Weston: Broke? Calculate your debt ratios – MSN Money Federal Reserve talk belies likely…

The following is a post by Marc Chandler, head of Brown Brother Harriman’s Currency Strategy Team. For more of BBH’s currency views, visit the website here. Pessimism pervades discussions of Europe today.  Optimists are not to be…

Also see Greece in turmoil over austerity from the FT.