sovereign debt crisis

The narrative has shifted recently with regards to Greece. Greece had been portrayed by many as a small economy one tenth the size of Germany whose debt problems could be solved by throwing EU/IMF money at it. Now, Greece appears to have…

Guest Author Polyvios Petropolous argues that the European Union must put in place the contingency plans for a Greek debt restructuring in secret before the plan is announced and executed. To end bailouts without such a plan in place would…

The following editorial by Timo Soini, the head of the True Finns party in Finland, on perceived corporatism in the EU bailouts of the eurozone periphery appeared in Monday's Wall Street Journal. We are reprinting it here because the…

Systemic risk is not driven by close macro integration. If this were the case, US states would have far higher exposure to systemic credit risk. Instead, systemic exposure is very high for European sovereigns. The roots of systemic risk lie…

Dollar stronger on the day for the fourth day in a row. Stories are flying about a possible new Greek aid package, causing choppy currency markets. Swiss CPI well below expectations; Norway CPI above expectations

Almost a week before S&P’s move, Fitch cut the outlook for China’s yuan debt to negative from stable. Media coverage was almost non-existent and there has hardly been any commentary. Frankly, most observers don’t even seem to know it…

Dollar selling resumes as equities and commodities recover after US employment report Euro moves back near $1.44 after EU officials discussed further aid to Greece Dollar likely to remain on back foot this week; Growth currencies likely…

The unscheduled meeting between several euro zone finance ministers, Eurogroup head Juncker, EU Monetary Affairs Commissioner Rehn, ECB President Trichet and a few other senior officials was important. It marks the official recognition that…

It bears remembering that the German banks are very exposed to the periphery as we contemplate the Spiegel article on Greece's alleged desire to defect from the euro zone.

This is my translation of an article from the German magazine Der Spiegel which says: "The debt crisis in Greece is getting worse. According to information available to SPIEGEL ONLINE, the country's government is considering leaving the…