Greece

Things are getting heated in the Greek sovereign debt crisis – with the main battle lines being drawn between Greece and Germany. There are a lot of stories in the German press about Greek profligacy and cheating (see German-language links…

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.

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.…

By now, you know about the much-discussed swaps that Greece used to conceal it’s debt load.  While the amount of debt concealed is low relative to the total, the mere fact that Greece attempted to conceal its true fiscal position is…

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…

Yves Smith and I received a tip at the weekend from a friend who reads the German press regularly about credit default swaps (CDS) on Greek government debt. Read Yves’ piece based on that article here. Below is mine. Previously, I had…

This post originally appeared at Global Economy Matters. The Eurozone's current problems are not mainly a result a of profligate and reckless spending of government resources in the Eurozone periphery . Even Nobel laureate Paul Krugman…