sovereign debt crisis

Portugal is going to market with a 10-year sovereign bond issue, its first since 2011. I think this is a pretty big deal. Think of it as a complete return to public market access for the Portuguese government, one of the critical…

Moody's Investors Service released the following statement in conjunction with a ratings action it took today on Slovenian sovereign debt.

I am not going to say a whole lot here in this post because I have been writing non-stop about Europe of late. I just want to share the European links with you. I think what the links show is that the European paradigm is in transition from…

Here is the video of an interview I did with Max Keiser on the situation in Europe. A lot of our discussion revolves around why the Germans actually do want a cohesive Europe but feel compelled to pursue the present policy path. We also…

In all of the bailed out nations of the euro zone, sovereign default is the worry as this can create a cascading knock-on effect like the failure of Creditanstalt in 1931 that ushered in the banking crisis of the Great Depression. We see…

Over the past weekend, Italy's caretaker cabinet formally approved plans to begin paying its overdue bills to domestic suppliers and service providers. Its official arrears have aggravated underlying problems, such as access to credit by…

In the short term, though, a continuation of the currently lax monetary policy is likely to lead to higher assets prices. The investor mindset is very much in risk-on mode at the moment, as documented by the surprisingly calm reaction to…

Back to the Willem Buiter interview in Financiëele Dagblad. Here Buiter continues with some comments on Jeroen Dijsselbloem's admission that bail-ins will be the preferred vehicle for conducting rescues going forward so as not to burden the…

Here are some quick points on the Cyprus deal which the Eurogroup agreed to last night. The agreement outline is very much along the lines of what I have been recommending regarding bail-in guidelines and is therefore a much fairer deal…

The Cyprus bailout deal has the following terms as approved by the Eurogroup: