Europe

Greece needs to default too. The right thing to have happen is for Greece to default in a hard restructuring as part of a comprehensive credible plan. The goal is to right the ship by getting all of the biggest debtors within the Maastricht…

Market cautiously optimistic amid hopes of China bond purchases and Merkel, Sarkozy conference. Moody’s downgrades two French banks; EUR resilient off the back of potential policy response. Brazilian retail sales stronger than expected;…

That was the question that RT's Lauren Lyster was asking last night. My short answer is not necessarily. The long answer is that policy makers have a lot of ways to continue the ball rolling. They can allow Greece to default and…

The dollar remains supported in choppy markets; French banks under pressure amid funding concerns. Euro zone risk premium continues to widen; Greece dances with default, tepid Italian bond auction. Banco de Mexico is likely to cut by at…

Implicit in my post explaining that Germany is preparing for Greek bankruptcy is the view amongst European policy makers that default does not equal euro zone exit. I think I should reiterate this because a lot of people are acting like an…

Marshall here. That was an impressive rally into the close in New York. Stocks ended up across the board. Yves Smith, who was off the grid today, asked “was there any news driving” the rally into the close or was it just tape painting.…

Jeff Sommers and Michael Hudson in Russia discussing the Euro future with journalist Matthew Lynn.

Greece’s chance of default in the next five years has soared to 98 percent. The day of reckoning is now close at hand.

David Blanchflower believes that Europe’s dithering has been fatal to the EMU. In an interview with Bloomberg Television, he said that Europe had an opportunity to get ahead of the sovereign debt crisis when it was just Greece. But now he…

EUR/USD breaches 1.35 (new trend low) and stocks hit 26-month low amid Greece default concerns. This week is likely to be dominated again by European headlines and US economic data reports. China data support soft landing scenario; Central…