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Rich Man’s Bank Hit by Bank Run, Collapse, “Bail-In”

Rich Man’s Bank Hit by Bank Run, Collapse, “Bail-In” In Europe nary a day seems to go by without some mention or rumor of a bank run or bank closure. Ground Zero of the current troubles is Greece, whose broken financial system is now wholly dependent on regular infusions of euros from the ECB. The […]

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German DAX Surges Over 12,000 On Greek Optimism, But The Money Has Run Out

German DAX Surges Over 12,000 On Greek Optimism, But The Money Has Run Out Moments ago, the German DAX roared gingerly back over 12,000 dragging US equity futures alongside it, with the catalyst cited as the somewhat optimistic tone following the three hours of talks held late last night to try to break an impasse […]

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History In the Balance: Why Greece Must Repudiate Its “Banker Bailout” Debts And Exit The Euro

History In the Balance: Why Greece Must Repudiate Its “Banker Bailout” Debts And Exit The Euro Now and again history reaches an inflection point. Statesman and mere politicians, as the case may be, find themselves confronted with fraught circumstances and stark choices. February 2015 is one such moment. For its part, Greece stands at a fork in the road. Syriza can […]

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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 […]

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EU Showdown: Greece Takes on the Vampire Squid

EU Showdown: Greece Takes on the Vampire Squid Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday” if they “vote wrong.” But they have been bullied for too long and are saying “no more.” […]

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Greece Is About To Dance A Wild Sirtaki

Greece Is About To Dance A Wild Sirtaki On January 22, the ECB has another meeting, and investors – as well as EU governments – are still thinking Draghi will announce full-blown QE. With the Germans resisting the way they consistently have for years now, I wouldn’t count on it. It’ll be extremely hard to […]

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IMF holds back Cyprus bailout funds | World news | theguardian.com

IMF holds back Cyprus bailout funds | World news | theguardian.com. The International Monetary Fund has said it will not release a further €88m (£69m/US$108m) in bailout money for Cyprus on Friday after the country’s parliament delayed a key foreclosure law that was due to take effect at the end of December. “Following today’s suspension […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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