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Greece: Greenspan predicts exit from euro inevitable
Greece: Greenspan predicts exit from euro inevitable The former head of the US central bank, Alan Greenspan, has predicted that Greece will have to leave the eurozone. He told the BBC he could not see who would be willing to put up more loans to bolster Greece’s struggling economy. Greece wants to re-negotiate its bailout, […]
Greece Gambles On “Catastrophic Armageddon” For Europe, Warns It “Only Has Weeks Of Cash Left”
Greece Gambles On “Catastrophic Armageddon” For Europe, Warns It “Only Has Weeks Of Cash Left” One of the bigger problems facing the new, upstart Greek government, which has set before itself the lofty goal of overturning 6 years of oppressive European policies and countless generations of Greek cronyism, corruption and tax-evasion is not so much […]
Greece and the EU – Nothing But Political Theater?
Greece and the EU – Nothing But Political Theater? Varoufakis’ Tour of Europe Greece’s new finance minister Yanis Varoufakis has toured Europe, trying to drum up support for – actually, we’re not quite sure what for exactly, as the precise nature of the Greek government’s demands is currently in flux (this is a parallel […]
More euro-tragedy
More euro-tragedy Despite the uncertainties ahead of the Greek general election, the European Central Bank (ECB) went ahead and announced quantitative easing (QE) of €60bn per month from March to at least September 2016. What makes this interesting is the mounting evidence that QE does not bring about economic recovery. Even Jaime Caruana, General Manager […]
ECB Threatens Athens With Bank Funding Cutoff If No Deal In One Month: February 28 Is Now D-Day For Greece
ECB Threatens Athens With Bank Funding Cutoff If No Deal In One Month: February 28 Is Now D-Day For Greece As Deutsche Bank’s George Saravelos politely puts it, “Developments since the Greek election on Sunday have moved very fast.” And indeed, so far the new Tsipras cabinet, and here we focus on the words and […]
Draghi’s Dangerous Bet: The Perils of a Weak Euro
Draghi’s Dangerous Bet: The Perils of a Weak Euro The recent decision by the European Central Bank to open the monetary floodgates has weakened the euro and is boosting the German economy. But the move increases the threat of turbulence on the financial markets and could trigger a currency war. The concern could be felt everywhere […]
ECB Euro QE Won’t Succeed
ECB Euro QE Won’t Succeed The European Central Bank (ECB) leaked the information beforehand to test the waters and this time followed through on their promise: Money printing galore in the form of 60 billion euros per month ($69 billion). ECB president Mario Draghi has been talking about it since 2012 and now finally got […]
Huge Madrid march in support of anti-austerity party Tens of thousands take to the streets of Spanish capital in support of Podemos. Tens of thousands of people have marched in Madrid in support for anti-austerity party Podemos, whose surging popularity and policies have drawn comparisons with Greece’s new Syriza rulers. On Saturday, protesters chanted “Yes […]
ECB warns Greek funding access hinges on keeping bailout
ECB warns Greek funding access hinges on keeping bailout (Reuters) – Greek banks’ access to European Central Bank funding beyond February will depend on Athens successfully completing a final bailout review and reaching a deal on a follow-up plan with its EU/IMF lenders, the ECB said on Thursday. The statement was the clearest warning yet […]
Grexitology – A Mexican Standoff
Grexitology – A Mexican Standoff The Greek Conundrum As you can see above, we have created a new term describing deliberations regarding the possibility of a Greek default combined with an exit from the euro area. The reason why the time for the term “Grexitology” has come is that opinions on Greece’s future in the […]
Operation Helicopter: Could Free Money Help the Euro Zone?
Operation Helicopter: Could Free Money Help the Euro Zone? It sounds at first like a crazy thought experiment: One morning, every resident of the euro zone comes home to find a check in their mailbox worth over €500 euros ($597) and possibly as much as €3,000. A gift, just like that, sent by the European Central […]
