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Due to its size and importance, Germany has taken all of the criticism for enforcing a hard line on the austerity quid pro quo which allowed the euro zone bailouts to proceed. However, policy makers from a number of other countries share…

from the BBH Currency Strategy Team The European financial crisis is of historic proportions and it remains unresolved as the year draws to a close. The resolution remains elusive, but there seems to be a finite number of ways that the…

Muddling through isn’t working. This column argues that troubled Eurozone nations should simultaneously open restructuring talks while continuing to service their debts normally. Germany, France, and other core Eurozone nations would have…

Despite its large size relative to the small Irish economy, the bailout of Ireland is not working. Risk premiums continue to rise. This column argues that part of the problem lies in a seemingly innocuous provision in the rescue facility…

Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many…

Undaunted by falling municipal bond prices, rising yields, and withdrawal of funds, research reports by large brokerage firms still mollify the majority of clients and fund managers with numbers and assertions: "General obligation bonds do…

I have been in meetings with Very Serious Texas Politicians where secession was earnestly discussed 15 years ago. Do I think that could happen? No. The Fed will never choose hyperinflation, and I do not think you can find 60 Senators to…

Market participants are already making their bets that the ECB will "print money". Below John Brynjolfsson tells Bloomberg why he thinks the ECB will monetise the sovereign debt problem. His firm is selling core Europe and buying the…

from BBH colleague Win Thin We’re not sure why there is even any debate in the market about private sector burden sharing with regards to peripheral debt. Of course there will be haircuts involved. Looking at the current euro zone problems…

This morning, BBH's Marc Chandler noted: In today’s European trading session, Ireland sold €100 of bills with an average yield of 2.23% with a maturity set for April 18, 2011. On the whole, Ireland auctioned €400M of bills, less than…