nationalization

The existence of capital controls eliminates contagion and makes it possible to bail-in deposits that would normally be considered to have systemic consequences. The more I look at it, the less benign this bailout deal appears. Indeed it…

The shareholders and subordinated bond holders of SNS Reaal are now fighting an alleged expropriation at the Dutch Council of State. In addition, these stakeholders are contesting the Dutch government's position that shareholders and…

Nationalised Dutch lender SNS Reaal, the fourth largest bank in the Netherlands has recently been nationalised despite a reported 13 percent Tier 1 capital level in the most recent round of banking stress tests in Europe. Clearly, the…

In yesterday's links, I pointed to two links showing that Ireland had regained bond market access. Here is more evidence that Ireland is regaining bond market access.

That a couple of Latin American countries have recently announced the expropriation of foreign investors in the energy sector seems hardly like new news. After all, cycles of nationalization and privatization have unfolded for more than…

A look at the fundamentals shows why Fernandez is engaging in such visible theatrics, which also includes recent vitriol regarding the Falkland Islands. Simply put, we think economic stresses are intensifying. How deep the stresses will get…

I ran across three separate articles on peak oil at well-regarded financial news sites today: The Economist, The Financial Times and Le Figaro. I thought I'd give you a run down of what they were saying and what it means for the economy and…

The rump Dexia now owned by the Belgian government is a structurally loss-making enterprise that will cost the Belgian government 2 billion in deficits every year from 2014.

I think this should be obvious to everyone by now, but peak oil is a clear factor in the Argentina/Spain oil crisis. Here's what happened.

Spain is involved in two stories today that point to the difficulties that surround sovereign governments that are overindebted in foreign currency. There are a ton of Spanish-language links for that reason.