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The Delusional Leaders of the Eurozone
The Delusional Leaders of the Eurozone I was looking forward to chilling with family and friends in Sydney this New Years Day, but Phil Dobbieruined it for me with this tweet: I had forgotten that this was the 20th anniversary of the start of the Euro. But the Eurocrats in Brussels hadn’t. Some hours before […]
The Brewing European Debt Crisis
The Brewing European Debt Crisis Macron is pushing for the European Finance Minister to raise money by selling EU bonds and then distribute the money to the 19-member Eurozone. France is very heavily indebted and here once again we have simply the goal to raise more money rather than reform. Because of the riots in […]
The Big Bet Against Italian Banks
The Big Bet Against Italian Banks The eurozone’s third-largest economy, Italy, is marooned in a deep political and economic crisis, with seeming endless problems: an economy that has barely grown in decades, sky-high unemployment rates, ballooning national debt, an inability to form a stable coalition government and, lately, a looming showdown with the EU over […]
The Eurozone Banks’ Trillion Timebomb
The Eurozone Banks’ Trillion Timebomb Eurozone banks have fallen dramatically in the stock market despite the results of the stress tests carried out by the ECB, and the EU Banks Index is down 25% on the year despite year-long bullish recommendations from almost every broker. This should not surprise anyone because we have seen in […]
Europe In Panic Mode Over Economy As USA Soars
Europe In Panic Mode Over Economy As USA Soars The eurozone’s economic growth rate has slumped to a four-year low. The eurozone could not borrow from the momentum of the U.S. economy in the third quarter as economic growth slumped to a tepid 0.2%, the slowest rate in more than four years. With the 19-nation […]
How Italy Leaves the Eurozone, Step by Step
How Italy Leaves the Eurozone, Step by Step Earlier today, Italy told the EU where to go with it budget demands. Expect the EU to huff and puff. The EU demands Italy do something about its buildup of debt. In response, Italy dismisses ‘implausible’ EU forecasts, says budget is sound. “There are no grounds for […]
Why’s France so Worried about Italy’s Showdown with Brussels?
Why’s France so Worried about Italy’s Showdown with Brussels? The French megabanks are on the hook. France was just served with a stark reminder of an inconvenient truth: €277 billion of Italian government debt — the equivalent of 14% of French GDP — is owed to French banks. Given that Italy’s government is currently locked […]
French FinMin: The Euro Zone Is Not Prepared To Face A New Crisis
French FinMin: The Euro Zone Is Not Prepared To Face A New Crisis Europe finds itself at a troubling crossroads: while on one hand the official narrative emanating from Brussels and Berlin (and, of course, the ECB) is that there is no risk of contagion from Italy’s budget crisis in the European Union, on the […]
Eurozone will Collapse – There is No Other Choice Economically
Eurozone will Collapse – There is No Other Choice Economically QUESTION: Mr. Armstrong; I can see what you have been arguing about the faulty design of the euro. After the EU rejected Italy’s budget, is there any hope left for Italy? RS, Rome ANSWER: For those who do not follow Europe closely, the European Union […]
Italy Openly Defiant of Eurozone Stability Pact, Deliberately and Knowingly
Italy Openly Defiant of Eurozone Stability Pact, Deliberately and Knowingly Eurozone officials and the ECB are in a quandary over Italy’s deliberate defiance of budget rules. There is a fundamental irony in Italy’s open defiance of Eurozone stability rules. Both France and Germany did the same in 2003. Eurointelligence reports Italy Formulates First Fundamental Challenge […]
ECB Hands Italy An Ultimatum: ‘Obey EU Budget Rules Or We Won’t Save You’
ECB Hands Italy An Ultimatum: ‘Obey EU Budget Rules Or We Won’t Save You’ With the Washington Post stepping up to put a floor under US stocks Thursday afternoon by reporting that President Trump would meet Chinese President Xi Jinping at next month’s G-20 summit (while the headline soothed the market, it doesn’t change the […]
Lega Popularity Rises With Each EU Confrontation: Major Event Coming
Lega Popularity Rises With Each EU Confrontation: Major Event Coming The EU conspiracy to oust Berlusconi succeeded because his popularity was on the skids. Lega is a far different story. Eurointelligence has an interesting on rising Italian yields, Italy’s budget deficit, and the inability of the EU and ECB to do any thing about it. […]
Trader: Italy’s Situation Is Truly Unprecedented
Trader: Italy’s Situation Is Truly Unprecedented If Italy is going to avoid a full-blown euro zone debt crisis that’s capable of causing turmoil in global financial markets, communication will be key. Much of the investor complacency toward the threat from Italy’s debt crisis is the fallacy that worse scenarios have been survived elsewhere before. Let’s […]
Italy’s Debt Crisis Flares Up, Banks Get Hit, as Showdown with the EU Intensifies
Italy’s Debt Crisis Flares Up, Banks Get Hit, as Showdown with the EU Intensifies Who will blink first? A serious showdown is brewing in the Eurozone as Italy’s anti-establishment coalition government takes on the EU establishment in a struggle that could have major ramifications for Europe’s monetary union. The cause of the discord is the […]
