If either France faces an economic bailout or the UK votes to leave, the EU likely will begin to disintegrate.
Documental de Paul Mason (BBC) sobre el colapso económico de España.
At the end of the day, tens of billions of fresh loan tranches will have authored another nasty act in the cruel theatre of horrors that is the Greek bailout.
The repercussions of this short-sighted agreement are grave not only for Greece but for the Eurozone, and indeed the European Union, more broadly.
The concern today, especially for Washington, is to keep the European utopia alive for as long as possible.
Spaniards are now rejecting the cynical confiscatory policies that aim to bailout an insolvent system managed by morally-insolvent politicians.
The ECB is now on a slippery slope from which it may have difficulty extricating itself, especially if the ECB balance sheet swells substantially due to OMT.
Despite the overwhelming evidence that money printing doesn’t work, the Eurozone overlords will to do it anyway.
In the past, the German Constitutional Court has not shown itself to be a political pushover.
Will the ECB stop buying as conditions have not been met or will it justify further purchases since the market demands higher premia, because of increased – but intolerable – convertibility risk?
The current high prices of precious metals, in the face of possibly deep economic recession, indicate that the prospect of a sudden and catastrophic financial collapse is very real.
Higher taxes for those on higher incomes and the wealthy to finance the costs of the crisis and cut budget deficits are being debated in the euro area – including Germany. Several countries have already taken action. If countries decide in favour of the state imposing such taxes, they face a difficult balancing act. Beside the fiscal and distributional targets and hopes, it has to be borne in mind that attention is to be paid to the risks to economic growth, which may result from negative incentive effects, and balance them against the former.