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Tag Archives: eurozone
Greece €400 Million Short For Wage And Pension Payments, Rushes To Pass Troika-Friendly Laws
Greece €400 Million Short For Wage And Pension Payments, Rushes To Pass Troika-Friendly Laws There was a brief bout of Greek risk-on euphoria following yesterday’s latest twist in the winding road to the Greek insolvency, in which the Greek finance minister Varoufakis became the latest sacrificial scapegoat to be “Nav Sarao-ed” to the angry gods […]
Is Greece About To “Lose” Its Gold Again?
Is Greece About To “Lose” Its Gold Again? When it comes to the topic of Greece, most pundits focus on two items: i) when will Greece finally run out ofconfiscated cash, and ii) will Greece fold to the Troika (and agree to another bailout(s) with even more austerity) or to Russia (and agree to the passage […]
The Weak Suffer What They Must: Yanis and the End of Europe
The Weak Suffer What They Must: Yanis and the End of Europe From southern Europe to the far north, matters are shifting, sometimes slowly, sometimes faster. There are moments when it seems all that goes on is the negotiations over the Greek dire financial situation and its bailout conditions, but even there nothing stands still. […]
“The Mother of All Bubbles” in Stocks and Bonds: Bank CEO
“The Mother of All Bubbles” in Stocks and Bonds: Bank CEO The first quarter was hot across the Eurozone. The euro has gotten purposefully crushed by the ECB’s currency war. QE, first promised then implemented, became all the rage. And stocks surged: the Stoxx Europe 600 was up 16%; Italy’s FTSE MIB index up 22%; […]
Greece Prepares To Leave
Greece Prepares To Leave Speculation and expert comments are thrown around once more – or still – like candy on Halloween. Let me therefore retrace what I’ve said before. Because I think it’s really awfully simple, once you got the underlying factors in place. But first, if one thing has become obvious after Syriza was […]
Next Up: China Will Be Joining The Global Currency Wars
Next Up: China Will Be Joining The Global Currency Wars Japan and the Eurozone have already (re-) discovered the power-button of their printing presses, but these countries might soon be joined by China. China’s prime minister has announced on Sunday he thinks it will be very difficult for China to keep its economic growth rate at the […]
Is Japan Zimbabwe?
Is Japan Zimbabwe? Is Japan Zimbabwe? How preposterous: Japan is an advanced economy that cannot possibly suffer the same fate as Zimbabwe. Right? Or could Japan get hyperinflation? Below I explain why Japan, and with it investors’ portfolios, might be at risk. The other day, when I was on a panel discussing unsustainable deficits in […]
Are Greek Capital Controls Now Inevitable?
Are Greek Capital Controls Now Inevitable? While the trading algos are blissfully honing their headline-scanning skills (it should take no longer than a few nanoseconds to find whether “patient” and “international” are in the FOMC statement) ahead of tomorrow’s Fed announcement and avoiding any macro developments from around the globe, the biggest international news hit […]
Thomas Piketty on the Euro Zone: ‘We Have Created a Monster’
Thomas Piketty on the Euro Zone: ‘We Have Created a Monster’ SPIEGEL: You publicly rejoiced over Alexis Tsipras’ election victory in Greece. What do you think the chances are that the European Union and Athens will agree on a path to resolve the crisis? Piketty: The way Europe behaved in the crisis was nothing short of disastrous. Five years ago, […]
Humiliated Greece eyes Byzantine pivot as crisis deepens
Humiliated Greece eyes Byzantine pivot as crisis deepens Neither side holds the upper hand in the strategic game of chicken which could still see Greece forced out of the euro Greece’s new currency designs are ready. The green 50 drachma note features Cornelius Castoriadis, the Marxisant philosopher and sworn enemy of privatisation. The Nobel poet […]
What will Germany pay for not compromising with Greece?
What will Germany pay for not compromising with Greece? You could argue that the very public nature of the disagreement between Germany and Greece, over the terms of the latest attempt by Greece to avoid financial collapse, is good for the reputation of the eurozone. In that at least colossal sums of taxpayer’s money aren’t […]
How Germany Is Blowing Up The European Union
How Germany Is Blowing Up The European Union As Germany is set to reject a Greek loan extension request (and no, international press, that is not the same as an extension of the bailout program), Steve Keen uses proprietary numbers issued by the OECD – which is supposed to be on Germany’s side?! – to […]
Game theory and the king’s new clothes
Game theory and the king’s new clothes I’ll admit to being a bit obsessed with Syriza and the Eurozone at the moment (here and here): it is by some way the most interesting development at the moment in both politics and economics. And I’m also interested in the idea that Yanis Varoufakis’ background teaching game theory might have […]
Cheaper oil will not boost global growth, says Moody’s
Cheaper oil will not boost global growth, says Moody’s Lower oil prices will fail to give a “significant boost” to global growth in the next two years, Moody’s has said. The ratings agency said any boost from cheaper oil would be offset by the eurozone’s economic woes as well as slowdowns in China, Japan and […]
