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Europe Preparing Greek Bankruptcy Loan “In Event Of Grexit”
Europe Preparing Greek Bankruptcy Loan “In Event Of Grexit” Earlier today, we learned that, contrary to what Greek government officials had been implying for the better part of a week, Athens did not have enough money to make a €750 million payment to the IMF on Tuesday. Instead, Greeceborrowed most of the money (€650 million according […]
Greece Is Now Just A Political Issue
Greece Is Now Just A Political Issue Greece paid off the IMF yesterday with its IMF reserves. Is that a big deal? Whatever you may want to read into this, it’s been obvious for years that Greece needs major debt restructuring if it wants to move forward and have a future as a country -let […]
Will Austerity Be the Straw that Breaks the EU AND the UK?
Will Austerity Be the Straw that Breaks the EU AND the UK? From where we’re sitting, the biggest victory in the May 7 British election will turn out to be not that of the Conservatives, but of the SNP, the Scottish nationalists. The party took 56 out of 59 Scottish seats in the United Kingdom’s […]
The Choice Before Europe
The Choice Before Europe Washington continues to drive Europe toward one or the other of the two most likely outcomes of the orchestrated conflict with Russia. Either Europe or some European Union member government will break from Washington over the issue of Russian sanctions, thereby forcing the EU off of the path of conflict with […]
Greek Debt Crisis
Greek Debt Crisis Is Default or Exit Inevitable? This past week, April 24, European finance ministers met in Riga, Latvia. High on the agenda was the topic of Greek debt negotiations. Two months after the February 28 interim agreement between Greece and the EU ‘troika’—the IMF, European Commission, and European Central Bank—in which both sides agreed to […]
Fierce Opposition? Heck, EU Lets Fracking in through Back Door
Fierce Opposition? Heck, EU Lets Fracking in through Back Door In Europe these days, the pace of legislative change is dizzying, as Brussels continues its blitz-like power grab. Last year saw the birth of the banking union. This year, it’s Energy Union. With the European Commission determined to push through an ambitious consolidation of the continent’s disparate energy […]
Is May 9 The Grexit Date?
Is May 9 The Grexit Date? Yes, more Greece, ever more Greece. Well, the focus is still very much there. It’s not the only topic, obviously, China warrants interest too, certainly with things like Tyler Durden quoting Cornerstone Macro as saying China’s true economic growth rate was just 1.6% in Q1 2015, not the official government […]
Is Mario Draghi Stupid, Crooked Or What?
Is Mario Draghi Stupid, Crooked Or What? Europe is surely at the top of the heap among today’s raging financial market lunacy. It seems that Ireland has now broken into the negative interest rate club, investment grade multinationals are flocking to issue 1% debt on the euro-bond markets and, if yield is your thing, you can get all of 3.72% on the Merrill […]
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. […]
Negative Yields and the End of Deposit Insurance
Negative Yields and the End of Deposit Insurance The Madness of Negative Bond Yields As we have frequently discussed in these pages, time preference must always be positive on a society-wide basis – it is a praxeological law that future goods and/or satisfactions are valued at a discount to identicalpresent goods. We emphasize “identical” here because […]
No Longer Quiet on the Eastern Front (Part 3)
No Longer Quiet on the Eastern Front (Part 3) Writing a short series of articles about geopolitics carries some risks – namely, that current events can unfold faster than I can hit the ‘send’ button on my next edition. It appears that I am releasing this missive in the nick of time, as the coming […]
Is Greece planning to print energy?
Is Greece planning to print energy? Over the past couple of months the story keeping many people on the edge of their seats has been the ongoing dilemma of Greece’s detested debt burden, its Great Depression-worthy 25% contraction of its economy, and its voluntary or even forced withdrawal from the eurozone – the fabled “Grexit.” For […]
Sustainable Companies Are Using Trade Associations That Undermine EU Climate Policy
Sustainable Companies Are Using Trade Associations That Undermine EU Climate Policy Many major multinational companies with strong sustainability policies, such as Facebook andMicrosoft, are also members of trade associations that are actively lobbying against European climate policy, a new study released this week finds. According to the report by the Policy Studies Institute (PSI) at the University of Westminster, businesses use trade […]
Is Greece About to Play its Geopolitical Trump Card and Ignite a Chain Reaction Across Europe?
Is Greece About to Play its Geopolitical Trump Card and Ignite a Chain Reaction Across Europe? If the EMU powers persist mechanically with their stale demands – even reverting to terms that the previous pro-EMU government in Athens rejected in December – they risk setting off a political chain-reaction that can only eviscerate the EU […]
