Europe

The June Flash PMI reports, which were out on Thursday, do not make for agreeable reading, in the sense that while the French and German economies both continued to expand during the month, their rate of expansion, and in particular in the…

This article was published in the NYT more than 20 years ago, forecasting precisely what has happened in Russia

The fact that this withdrawal of liquidity has already begun, though, does make the situation more acute. The question is what to do about it. It seems to me that the present path is not instilling a sense of confidence in investors.

Only a referendum can commit the Greek government to repay new debts imposed under austerity. Only a referendum can prevent property that is privatized from being re-nationalized. Such a transfer is not legitimate under commonly accepted…

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.

The following report by Fitch from Tuesday highlights the cross-Atlantic channel through which credit market volatility could spread. US money markets have significant exposure to the European banking system. The worry is that a Greek…

Here is a bit more detail courtesy of Fitch, the ratings agency, outlining exposure to the European 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…

Young people and the elderly throw incendiary devices and yogurt to protest Greece's proposed austerity measures.