fiscal

European politicians have revealed that a European Monetary Fund is already in the planning phase. The reports suggest that this fund may be the mechanism through which the Eurozone will defend the sovereign debt of members and impose…

The following is a post by Marc Chandler, global head of Brown Brother Harriman’s top ranked Currency Strategy Team. For more of BBH’s currency views, please visit the BBH FX website here. Highlights The US dollar was largely weaker…

The Wall Street Journal is reporting that a plan to bail out Greece to the tune of $41 billion is now being formulated by Germany and France. It might seem as if a bailout is inevitable and that the terms of such a bailout are the only…

The following is a post by Marc Chandler, head of Brown Brother Harriman’s Currency Strategy Team. For more of BBH’s currency views, visit the website here. Pessimism pervades discussions of Europe today.  Optimists are not to be…

Also see Greece in turmoil over austerity from the FT.

Former New Jersey Governor Jon Corzine talks with Bloomberg's Deirdre Bolton and Erik Schatzker about his concerns about the U.S. budget deficit and stimulus-spending strategy.

This is just in from the FT: Germany recorded a budget deficit of 3.3 per cent of gross domestic product last year, one point more than the most recent forecasts, but still well below the level for most of Europe’s larger economies.…

I said: "Here’s my question: when does this affect the Greek sovereign credit rating? That has to be next because the scenario I just scoped out would indeed suggest lower tax revenue and more budgetary pressure. Sure sounds like a death…

Marshall Auerback here with a post which I originally co-wrote at New Deal 2.0 with Randall Wray. In recent weeks, there has been much discussion about what to do about Greece. These questions become all the more relevant as the country…

In another blow to a quick resolution of the Greek sovereign debt crisis, reports are surfacing that multiple banks may have arranged swap contracts with Greece to hide their fiscal shortfalls. Bloomberg is now reporting that up to fifteen…