crisis

I referenced Matt Taibbi’s latest work at Rolling Stone “Wall Street’s Bailout Hustle” recently when talking about a movie on Ponzi schemes and fraud that aired on 60 Minutes. I liked the piece and recommend you read it – fully aware of the…

Yves Smith and I received a tip at the weekend from a friend who reads the German press regularly about credit default swaps (CDS) on Greek government debt. Read Yves’ piece based on that article here. Below is mine. Previously, I had…

This post originally appeared at Global Economy Matters. The Eurozone's current problems are not mainly a result a of profligate and reckless spending of government resources in the Eurozone periphery . Even Nobel laureate Paul Krugman…

I wanted to highlight a few articles on Greece below. Due to time constraints, I cannot translate this Dagens Nyheter article (Borg tror inte Greklands plan räcker - DN.se). But the general gist is one of Sweden’s premier Borg supporting…

Marshall Auerback warns that unchecked speculation and fraud are threatening the European Monetary Union. Marshall Auerback here with a post which I originally published at New Deal 2.0 Surprise, surprise: Wall Street tactics akin to the…

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. Relatively constructive US economic data in the form of a better than expected…

The Dutch have now also signalled a firming opposition to a bailout of Greece, adding to the chorus of voices in Germany which are categorically against such a move.  While I had previously said some sort of support could be…

Update: 2010-02-24. The Wall Street Journal has picked up on this theme. See Wealthy Greeks Send Money Abroad. The point is that the taxation rules are not necessarily going to increase taxes. They will, however, increase capital flight.

Edward Hugh here. Well, I may say there were no surprises, but in fact the Greek economy contracted more than many observers expected in the fourth quarter, while downward revisions to the rest of 2009 converted the present recession into…

Below is the text of the brief EU statement on Greece debt crisis. All euro area members must conduct sound national policies in line with the agreed rules. They have a shared responsibility for the economic and financial stability in…