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Greece and the IMF appear to be pushing for as much as a 75% loss on NPV basis, while the banks, many of whom have written down 50% of their Greek holdings, appear willing to accept a 60-65% hit on the NPV basis. Participating in the…

With the long-awaited euro zone downgrades by S&P now out of the way, we thought it would be useful to assess just how close current ratings are now to our own sovereign ratings model.

With the long-awaited euro zone downgrades by S&P now out of the way, we thought it would be useful to assess just how close current ratings are now to our own sovereign ratings model.

Continuing from part 1 of the Willem Buiter interview with het Financieele Dagblad

The countries of the eurozone will eventually emerge from the sovereign debt crisis -- with pain and difficulty.

The countries of the eurozone will eventually emerge from the sovereign debt crisis -- with pain and difficulty. That is what Citigroup chief economist Willem Buiter, on a visit to Amsterdam on Friday during a roadshow, expects. Spain and…

European sovereigns return to the capital markets more substantially next week as 2012 issuance gets under way. Between bills and bonds, around 35-40 bln euros will be sold. Maturing issues and coupon payments will cover about…

As always, I present you Byron Wien’s Ten Surprises for 2011. He is bullish yet again - on both the US and emerging markets.

News links for 9 December 2011 including posts on the European sovereign debt crisis, politics and elections in the US and Russia, and the situation at MF Global

Germany and France are pushing for treaty changes. Under normal conditions treaty changes are a long drawn out process, subject to horse trading and vulnerable to domestic political considerations and the outcome is far from guaranteed.…