sovereign debt crisis

Current-account deficits have caused problems in several Eurozone countries, but surpluses are also an issue. This column argues that surpluses are detrimental to the welfare of the population to the extent they are driven by structural…

This morning I made the argument that the global economy is growing across the breadth of developed and developing economies. I still have a problem with Europe though as I believe the risk is to the downside. Basically, the policy response…

Summary: Pippa Malmgren discusses the eurozone with Bloomberg below, calling attention to the diverging interests within the eurozone as a critical factor adding stress despite the relative calm we have witnessed in markets of late. Her…

The Eurozone’s tangle of conflicting goals – a series of ‘trilemmas’ – is not without precedent. This column argues that it is reminiscent of the interwar situation. The interwar slump was so intractable not just due to financial issues,…

What follows is an interview I did over the summer with the Madrid based publication The Local.

Remember how French President Hollande was saying a month ago that the euro crisis is over? Well, he was wrong. Today portugal's yields on 10-year paper vaulted to as high as 7.9% before settling back down again.

The ECB's forward guidance last week was begun with unanimous support including the German contingent. I think this is a very significant development in the European sovereign debt crisis because it moves the ECB that much closer to full…

In the past two weeks, a lot has happened in Europe. I would say the general tenor of the news flow has been downbeat. Nevertheless, I am mostly positive on Europe. I don't see an imminent eurozone breakup, nor do I see a further dip into…

One of the reasons that it is been so hard for a lot of analysts, even trained economists, to understand the imbalances that were at the root of the current crisis is that we too easily confuse national savings with household savings. By…

I have been posting for a while now that I think Greece provides the greatest upside potential. Greece's sovereign bonds outperforming was one of my ten surprises for 2013 three months ago. And with bond yields now falling below 10%, Morgan…