currencies

Short of a fiscal union, there are other measures which the Greeks could adopt to make their bonds more attractive to external investors, thereby preventing the markets shutting the country down and refusing to extend further credit to a…

As had been anticipated, the Greek parliament has approved the austerity measures along party lines. The parliament will vote on the implementation bill tomorrow. This may be a bit stickier, but it too is likely to pass. Assuming so,…

In Montier’ view, “value investing is the only risk-averse way of investing” that addresses tail risk. He identifies, value risk, fundamental risk and financial risk as three main risk characteristics value investing captures. The subtext…

I want to take a look at the latest news concerning the Greek situation using the political framework I laid out earlier in the month.On the whole, things are proceeding pretty much as anticipated.

As the Q2 winds down, it may be useful to review the recent correlations between some of the major currencies and the US S&P 500. The correlation calculations are conducted on the basis of percentage change of the currency and the…

Slovenia’s problems highlights the fundamental deflationary bias of the euro system and all fixed exchange rate systems more generally.

If the EU/IMF does this for Greece why not Ireland and Portugal? It is difficult to envision Ireland being able to go back to the markets next year as originally intended. Therefore, it too will likely require another round of assistance.…

This is the second in a two-part essay on the origins of the sovereign debt crisis. Here the emphasis is on the present situation within the euro zone and the imbalances between the core, dominated by Germany, and the euro zone periphery.

This is the first in a two-part essay on the origins of the sovereign debt crisis. Here the emphasis is on Germany’s central role in the last century and a half of European history and in the formation of the euro

Dollar broadly mixed as the uncertainty over the Greek persist; German IFO beats expectations. News of a Greek austerity deal with EU-IMF are positive but risk surrounding austerity vote remain. China said efforts to stem inflation are…