IMF

Here’s a good all-encompassing Bloomberg TV video with Morgan Stanley’s Stephen Roach from Friday. He is not impressed with the IMF plans that the Europeans are working on, calling the numbers “chump change”. Roach also talks about the US…

Mario Draghi has become explicit about what it will take for the ECB to have a more active role in the European sovereign debt crisis.

Below are the five ways now being discussed to tackle the euro zone sovereign debt crisis. I should say that overall, it is still unclear how far along European leaders are in defining a mutually agreeable outcome. Just this morning, I have…

Editor’s note: the IMF musings would be difficult politically, especially in the US. And any deal for Italy would also have to involve Spain too. However, Perhaps most important, operationally, the ECB lending to the IMF, which then lends…

News links for 28 November 2011

According to Austrian daily Der Standard, Italy is to receive a 600 billion euro bailout courtesy of the IMF. Note: the article has what I assume to be a typo, referring to 600 million euros instead of 600 billion. I have fixed that in the…

Many observers are confused. They cry for the ECB to "man up" and "do what it is supposed to do" and be the lender of last resort. It does have that function for banks, not for sovereigns. The lender of last resort to sovereigns is the…

BofA Clash With Fannie Mae Escalates Over Loan Buyback Stance - Bloomberg Bank of America Corp. (BAC) told Fannie Mae it refuses to cooperate with the U.S. mortgage firm's new stance on loan buybacks, setting the lender up for a…

By Claus Vistesen (see source of image at end of post) I have recently spent a few days in New York talking to clients as well as sneaking in a bit of marathon watching and a visit to the Guggenheim museum. Flying across the big pond…

I thought I should flag this since it a cornerstone of the present European sovereign debt crisis strategy.