European breakup

It is far from clear that the current level of Estonian CDS prices risk in in any more satisfactory way than they did at the height of the crisis, since membership of the Eurozone has brought with it both positives and negatives. The 0.28%…

The point is EMU is a political construct and unworkable in its present state. The question is whether the Europeans want to take the political steps like Eurobonds or fiscal integration that are necessary to support a stable currency…

Last month I wrote an article called “The ECB is the difference” which claimed the ECB was the pivotal institution in the European sovereign debt crisis. I presented two options that the European Central Bank had in relieving pressure on…

In the audio clip below, Ambrose Evan-Pritchard explains why he is a eurosceptic and why he believes a breakup in the eurozone is inevitable.

In America everyone has been bellyaching about the S&P ratings downgrade like its an affront to the greatness of America. This is absolute rubbish. It’s pure denial and economic nationalism. Do you think the Germans would threaten to…

It would easy to say something like, “The euro is an abomination and the peripherals should simply leave or be tossed out of the euro zone.” But, we are here now. The political imperatives for closer European ties that created the single…

Felix Zulauf spoke to Barron’s Alan Abelson about his thoughts on the European sovereign debt crisis now that Greece has received its second 100 billion euro bailout. Here I discuss what Abelson says about the conversation and why I think…

This post is a prelude to a BBC interview on the sovereign debt crisis. I am not going to answer financial Armageddon questions about "what oif it all goes pear-shaped" here because to understand where things are headed you need to know how…

Guilio Tremonti, the Italian Finance Minister, last week compared Germany and its small-minded Chancellor Angela Merkel to a first-class passenger on the Titanic. To repeat: this is not a problem confined to the periphery. The sovereign…