Articles on the eurozone crisis.
I continue to believe that longer dated Spanish and Italian bonds are poised for a significant sell-off.…
The question is not whether to give priority to fiscal austerity or economic growth but to find the optimal degree of austerity and structural reforms for the maximisation of confidence.…
Increasingly, the future of the euro appears to be influenced not just by debt default, but also by the politics of bailouts and austerity.…
Interview with CNN's Christian Amanpour on the the theme of Europe’s slow suicide by inane austerity.…
The ECB’s two LTROs had vastly lifted market sentiment and made refinancing at reasonable rates possible again for EU banks.…
The implications of the present situation in Spain could be more far reaching than is currently anticipated and the contagion it represents could lead to a fundamental change in the world's monetary order.…
The ECB’s non-standard monetary policy measures were taken to deal with problems in the financial sector and not to extend monetary policy easing beyond interest rate cuts.…
The high levels of debt and the lack of competitiveness in some southern European states are partly due to inefficient structures of government operation and public administration. Structural improvements in these areas are essential for political reforms and economic stability. Temporary “technocratic” governments in some countries could represent an intermediate stage. The principle which should apply is that it is not necessarily less state intervention that helps to solve problems but more efficient administrative structures. Europe can only remain united in diversity in the long term if the ability to achieve political reforms is guaranteed.…
Only in Greece, can you wipe out €100 billion of debt, and have the new debt that replaces it trade at 20% of face value...…
The Greek crisis is being used to find out how far finance can drive down wages and privatize the public sector.…