Iceland

Officials have been trying to come up with some way to avoid the weekend referendum in Iceland but it looks likely those efforts have been in vain.  Polls show that nearly three-quarters of the Iceland voters will reject the deal that…

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The latest piece of big news in the sovereign debt crisis comes, remarkably, from Iceland. The country collapsed into depression after its experiment as an open economy with a large banking sector went pear shaped. After a debt-fuelled…

This comes from Bloomberg News: Estonia is set to meet its goal of adopting the euro in 2011 because of the Baltic country’s work on fulfilling fiscal requirements, European Union Economic Affairs Commissioner Joaquin Almunia said.…

The last I had heard about a prospective Gulf currency union came yesterday morning in a note by Marc Chandler who is the Chief Strategist at Brown Brothers Harriman’s FX group.  He indicated that he was more optimistic about a Gulf…

The headline at Bloomberg reads “Ireland, Greece May Leave Euro, Standard Bank Says.”  Before I even started reading this I was sceptical.  The Telegraph’s Ambrose Evans-Pritchard makes calls like this, but his Euro-sceptic views…

Columbia University Professor and former Federal Reserve official Frederic Mishkin wrote a much-discussed Op-Ed in the Financial Times yesterday. In it, he asks Are potential asset-price bubbles always dangerous? He answers this…

Today, Moody’s warned that Iceland, Latvia and Hungary were stabilizing but that their economies remained fragile. The problem is high debt levels, which is restraining consumer spending. Recovery in the Eurozone has been the main aid to…

From the FT. Iceland’s bid to join the European Union received a boost on Monday when the 27-nation bloc’s foreign ministers agreed without delay to ask the European Commission for its opinion. The swift decision means that Iceland,…

Ambrose Evans-Pritchard has a good piece on Iceland out today at the Telegraph. The main point of his article is that Iceland is emerging from crisis and depression in a relatively healthy state due to a fifty percent currency…