Draghi and the ECB Are Pumping Up Europe’s Economy—Will it Work?
Mario Draghi and the European Central Bank president’s announcement of new monetary measureslate last week is a shrewd contribution to the fight against sluggish growth and the now-chronic threat of deflation. The markets had figured for weeks that Mr. “Whatever…
Why a Drop in the Overvalued Yuan Won’t Start a Currency War
A week of mayhem in the financial markets, grandstanding lawmakers on Capitol Hill accusing China of “rigging the rules again”—all because the overvalued yuan depreciated toward a market rate in three dramatic trading sessions. Could we see some evidence of…
To the Brink: Why It’s Time for Greece to Call the Euro Quits
The wind whistling past Alexis Tsipras’s ears must be a deafening howl. The crisis facing the Greek prime minister now mutates by the hour—deteriorating markedly over the past several days. As of Sunday evening Greek time: After emergency meetings with…
Big banks run everything: Austerity, the IMF and the real story about world economy that the media won’t tell you
If you want to understand what’s really happening in Greece and Ukraine, just follow the money. Fascinating to watch the International Monetary Fund as it fronts for the U.S. Treasury and international lenders in the Greek and Ukrainian debt crises….
Post-Austerity Europe Gropes for a Game Plan
In Spain, King Juan Carlos proposes to give up his 136–foot yacht (although there is bickering over who should get it). In France, President Francois Hollande just raised $390,000 by selling 1,200 bottles of wine from the Élysée Palace cellars…
The Eurozone Deal Cyprus Could Not Refuse
At last there is a deal on the table to avert financial and economic collapse in Cyprus, a threat to the euro, and bank runs elsewhere in the European Union. At this writing, the terms Cypriot President Nicos Anastasiades negotiated…
Has Britain Recovered or Simply Faked a Recovery?
Two recession strategies are competing ever more openly in Europe—two growth models and two economic philosophies that Americans should watch carefully. Just as the choice ahead could change the map of the European Union so could the election on November…
EU Crisis: Protect the Euro or Ensure Stability?
Most of us thought the crisis in Europe had to do with holding the euro together. It is not so simple after last week’s tumult—in Greece, in Portugal, in Spain, even in Germany. What is at issue now is not…
Europe Got the Buyout but Will It Get the Buy In?
The best that could be hoped for: That is the obvious way to look at the European Central Bank’s new plans to buy up the bonds of troubled members of the European Union. The markets loved the announcement last Thursday:…
As Merkel Goes, So Goes the European Union
The European Union is likely to take a step to finalize the Continent’s economic and financial recovery strategy. And make no mistake: We all have an interest in this phase of Europe’s protracted struggle to reshape itself. This Thursday, Mario…
Recent Comments