sovereign debt crisis

I'm back from vacation! The links are light today so let me give you an added few tidbits from this week's Gold member post on the euro zone.

In the German press, there have been a number of stories recently that indicate that the German government will not commit any more money to bailouts in the euro zone. Specifically, the reports of greatest interest have to do with Germany's…

And going beyond April, the political arithmetic of a post Monti government looks complicated, making the kind of stability needed to advance what the population may well see as “harsh” reforms unlikely. In other words, as Monti says, when…

I am going to try a different format for the daily today because I have a number of foreign language articles. This time, I am going to give a brief synopsis of each article rather than just having a main talking point at the outset. This…

Ireland was hit hard by the financial crisis in 2009 - before Greece and Portugal came on the scene. It took a complete recapitalization of the banking system via "bad bank" structure called Irish Bank Resolution Corporation (IBRC) that…

Everyone of course assumes that the ECB has put together some type of plan to change its policy course. But did this statement come from the ECB (similar to the announcements of the FOMC) or is Draghi trying to do this on his own? Did the…

Mario Draghi has a specific plan in mind for how the ECB will be able to arrest the sovereign debt crisis. Two Bloomberg central bank sources told the news agency that ECB President Draghi will have talks with Bundesbank President Jens…

Mario Draghi's comments earlier today showing the ECB's commitment to the euro to do whatever it takes to keep the single currency intact were greeted by most with a sense of relief. In Germany, there was consternation within the German…

The Euro is the national currency of a country that does not exist. Though there is a continent of Europe, as there is of America, there has never been a country of the United States of Europe, and there probably never will be. The Euro is…

I want to revisit Richard Koo's comments three weeks ago after his meeting with a number of German policymakers. I think they are illuminating in terms of why Euro crisis policy is as it is. And given the downturn in German economic…