Just how low can European governments go in their desperate courtship of London-based banks?… Read More One Sole Aim: “Steal Away” Global Finance from London
Jeroen Dijsselbloem, the president of the Euro Group (for now), has managed to offend just about every man of drinking age from Southern Europe… Read More Euro Group President Just United the Whole of Southern Europe (Against Him)
In Greece and Cyprus, two of the Eurozone’s most bailed out economies, virtually half of all the bank loans are toxic… Read More Deepening EU Banking Crisis Meets Euro-TARP on Angel Dust
To the ECB’s barely contained glee, inflation is back, alive, kicking and biting, in the Eurozone.… Read More ECB Trapped in its Own “Doom Loop” as Inflation Surges
As soon as any major country exits the Eurozone (and possibly some lesser ones), a cascade of defaults, unparalleled in history, will commence… Read More Massive Cascade of Eurozone Defaults Coming Up
The ECB would do so at its own peril… Read More Are Germans About to Be Made to Pay for Their Love of Cash?
There’s an air of furtive desperation about the proceedings… Read More Are We About to See a “European Monetary Fund?”
The leaders of the lower chambers of parliament of Germany, Italy, France, and Luxembourg have called for a European “Federal Union” in an open letter published in Italian newspaper La Stampa on Sunday.… Read More EU Lawmakers Urge “Federal Union” For European States… Or Else
Many of Europe’s and America’s biggest banks have begun begging, cap in hand, for a new, innovative way of raising vast sums of dirt-cheap debt on Europe’s financial markets.… Read More Is that the Smell of Desperation Hanging Over Europe’s Banking System?
Vast liabilities are being switched quietly from private banks and investment funds onto the shoulders of taxpayers across southern Europe. It is a variant of the tragic episode in Greece, but this time on a far larger scale, and with systemic global implications.… Read More Unpayable Debts and an Existential EU Financial Crisis – Are Eurozone Central Banks Still Solvent?
The mushing together of “fake news” and what the Times describes as “anti-European Union propaganda” is insidious. The first relates to consciously fabricated stories; the second involves criticism of a political institution, the E.U,, which is viewed by many Europeans as elitist, remote and disdainful of the needs, interests and attitudes of average citizens.… Read More NYT’s Fake News about Fake News