Home » Posts tagged 'default' (Page 14)
Tag Archives: default
China Soars Most Since 2009 After Government Threatens Short Sellers With Arrest, Global Stocks Surge
China Soars Most Since 2009 After Government Threatens Short Sellers With Arrest, Global Stocks Surge Here is a brief sample of some of the measures the Chinese government and the PBOC have unleashed in just the past ten days to prop up the crashing market include: a ban on major shareholders, corporate executives, directors from […]
Germany Crushes All Hope Of Greece Getting Debt Relief
Germany Crushes All Hope Of Greece Getting Debt Relief As the Grexit debate is falling into the background a new, far more powerful conflict emerges: one between Germany on one side, and the IMF, France, Italy, and perhaps even the US, when it comes to the all important issue of debt relief. As a reminder, […]
Financial Nonsense Overload
Financial Nonsense Overload Kelly Hensing “Those whom the gods wish to destroy they first make mad” goes a quote wrongly attributed to Euripides. It seems to describe the current state of affairs with regard to the unfolding Greek imbroglio. It is a Greek tragedy all right: we have the various Eurocrats—elected, unelected, and soon-to-be-unelected—stumbling about […]
The Greece and Eurozone Crisis Made Simple
The Greece and Eurozone Crisis Made Simple One can go into long convoluted explanations but, as I see it, there are two basic problems, one leading into the other. The more superficial problem is that in a single currency zone without the option of devaluation purchasing power will drain to the more competitive countries. To […]
Greece Didn’t Refuse Austerity: They Refused Further Debt Slavery to the EU
Greece Didn’t Refuse Austerity: They Refused Further Debt Slavery to the EU Did you hear the news? “Greece Says No to Further Austerity Measures!” Did you shake your head and say, “Wow, the nerve of those people refusing to cut their expenses in the face of all that debt”? I’m no financial expert, but I […]
Ragin’ Contagion: When Debtors Go Broke, So Do Mercantilist Exporters
Ragin’ Contagion: When Debtors Go Broke, So Do Mercantilist Exporters Papering over the structural imbalances in the Eurozone with bailouts or bail-ins will not resolve the fundamental asymmetries in trade. Beneath the endless twists and turns of Greece’s debt crisis lie fundamental asymmetries that doom the euro, the joint currency that has been the centerpiece of […]
There is Only One Way Out For Greece
There is Only One Way Out For Greece Brussels has been dead wrong. The stupid idea that the euro will bring stability and peace, as it was sold from the outset, has migrated to European domination as if this were “Game of Thrones”. Those in power have misread history, almost at every possible level. The […]
It Begins: ECB Hikes Greek ELA Haircuts; Full “Depositor Bail-In” Sensitivity Analysis
It Begins: ECB Hikes Greek ELA Haircuts; Full “Depositor Bail-In” Sensitivity Analysis Earlier today we reported that as Bloomberg correctly leaked, the ECB would keep its ELA frozen for Greek banks at its ?89 billion ceiling level last increased two weeks ago. However we did not know what the ECB would do with Greek ELA […]
Greece Fallout: Italy and Spain Have Funded a Massive Backdoor Bailout of French Banks
Greece Fallout: Italy and Spain Have Funded a Massive Backdoor Bailout of French Banks In March 2010, two months before the announcement of the first Greek bailout, European banks had €134 billion worth ofclaims on Greece. French banks, as shown in the right-hand figure above, had by far the largest exposure: €52 billion – this was 1.6 […]
The German Siege Of Greece Begins (No, This Is Not A Repeat From 1941)
The German Siege Of Greece Begins (No, This Is Not A Repeat From 1941) Did you notice that Greece’s creditors are not rushing to offer the Greeks a new deal in the wake of the stunning referendum result on Sunday? In fact, it is being reported that the initial reaction to the “no” vote from top European […]
The Biggest Winner From The Greek Tragedy
The Biggest Winner From The Greek Tragedy Long after Greece has left the Eurozone and Germany is using the Deutsche Mark as its currency, the people of the two nations, antagonized to a level unseen since World War II, will be accusing each other of benefiting more from the brief but tumultuous period of the […]
Welcome to Blackswansville
Welcome to Blackswansville While the folks clogging the US tattoo parlors may not have noticed, things are beginning to look a little World War one-ish out there. Except the current blossoming world conflict is being fought not with massed troops and tanks but with interest rates and repayment schedules. Germany now dawdles in reply to […]
Greece Votes NO – Let The Chaos Begin…
Greece Votes NO – Let The Chaos Begin… The result of the referendum in Greece is a great victory for freedom, but it is also threatens to unleash unprecedented economic chaos all across Europe. With almost all of the votes counted, it is being reported that approximately 61 percent of Greeks have voted “no” and […]
Greek Citizens Vote “No” on a Bailout Offer that no Longer Exists
Greek Citizens Vote “No” on a Bailout Offer that no Longer Exists An exercise in futility has just ended in Greece, with its population voting down an offer that has expired almost a week ago already. Given the futility of the referendum, its outcome was actually irrelevant from a formal perspective – once the verdict […]
Russia Taking Full Advantage Of Greek Crisis
Russia Taking Full Advantage Of Greek Crisis With Greece’s debt situation spiraling downwards, the European project is showing some cracks. The July 5 referendum could amount to a vote on whether or not Greece stays in the euro. In the meantime, the turmoil offers an opportunity for Russia to advance its interests. Of course, the […]
