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Italy is more dangerous than Brexit: Europe's next crisis could be systemic

Georges Ugeux | Posted 07.15.2016 | Business
Georges Ugeux

The noise about Brexit, as historically and politically significant as it could be, has, over the past three weeks, allowed Italy to hide. However, wh...

Faltering Thursday - Draghi's Brexit Fears Push EuroStoxx Back Below 3,000

Phil Davis | Posted 06.09.2016 | Business
Phil Davis

Things are turning ugly again. We are now officially short on the market and just in time, it seems as the EuroStoxx index is down 0.666% for the ...

Fake Market Thursday - OPEC, ECB and the S&P 500

Phil Davis | Posted 06.02.2016 | Business
Phil Davis

No one was trading yesterday. The markets may as well have been closed based on the volume trading on the S&P's ETF (SPY) and, as you can see, the...

Manic Monday - Waiting for the BOJ, Fed

Phil Davis | Posted 03.15.2017 | Business
Phil Davis

2:30 AM. That's what time tomorrow the Bank of Japan will have their press conference to announce their rate decision as well as, potentially, any...

Europe, Japan and the Fallacy of Negative Interest Rates

Richard Finger | Posted 03.11.2017 | Politics
Richard Finger

Working too many hours in a light deprived office painted mental hospital beige can skew the judgement for even the most talented. Econometric forecas...

The ECB Should Not Purchase Italian Nonperforming Loans

Georges Ugeux | Posted 02.17.2017 | Home
Georges Ugeux

The ECB has no place and no legal right to purchase such assets. For the Italian Treasury to negotiate with the ECB is equivalent to negotiating with itself. Mario Draghi did run the Tesoro for many years. The Governance of the ECB is increasingly questionable.

Thursday Fervor -- Draghi Catches the Markets as They Fall

Phil Davis | Posted 01.21.2017 | Business
Phil Davis

So the Nasdaq and the S&P are the only major indexes not to have gone negative (so far) but both are on the edge and, if they fail to hold their Must Hold lines - there's no reason to think they aren't going to join their brother indexes in stock market Hell.

Was 2015 The Year Of The Mural?

Jaime Rojo & Steven Harrington | Posted 12.16.2015 | Arts
Jaime Rojo & Steven Harrington

Was 2015 the "Year of the Mural"? A lot of people thought so, and the rise of commercial festivals and commissioned public/private mural programs p...

Brooklyn Street Art's 15 Most Popular Murals Of The Year

Jaime Rojo & Steven Harrington | Posted 12.09.2015 | Arts
Jaime Rojo & Steven Harrington

People's street art preferences can be very hard to predict. On social media we can reliably tell you that opinions are unreliable. Murals that we are...

An End To Austerity?

Harlan Green | Posted 11.09.2016 | Business
Harlan Green

The result of such austerity policies has been lost output and overall wealth that several economists say could last for years--and may even be permanent--hurting both jobs and economic output.

Another Shot of Steroids From the Central Bank Doctors

Sara Zervos | Posted 10.26.2016 | Business
Sara Zervos

Back in 2008, the global economy was severely injured, and policymakers have been struggling to provide the right medicine to heal it.

Draghi Fever Thursday - Are You Fed Up with the BS Yet?

Phil Davis | Posted 10.22.2016 | Business
Phil Davis

I've got Draghi fever, she's got Draghi feverWe've got Draghi fever, we're in debtShe's gone Dollar crazy, I've gone Euro hazy Are we still taking...

China's Miracle Economy Goes from Illusion to Nightmare?

Ambassador Muhamed Sacirbey | Posted 08.18.2016 | Business
Ambassador Muhamed Sacirbey

If there was one virtue that China projected, it was an economy that could handle like a BMW, and go from 0 to 7.5 percent growth in 3 months.

Greek Voters Present Obstacle to Unelected Authorities' Efforts to Transform Europe

Mark Weisbrot | Posted 07.09.2016 | Politics
Mark Weisbrot

By voting "No" with a large margin (61-39 percent), Greek voters demonstrated several important things. First, that they were not easily intimidated. Second, that despite a massive propaganda campaign by what the New York Times described as "the oligarch-dominated news organizations," they were not easily fooled.

Zach Carter

Why Obama Is Leaving Greece To Fend For Itself Against Germany | Zach Carter | Posted 07.08.2015 | Politics

WASHINGTON -- The Obama administration is effectively sitting out the contentious talks over the festering economic crisis in Greece, despite increasi...

Greece Has Reached Its Threshold of Pain

Daniel Wagner | Posted 07.06.2016 | Home
Daniel Wagner

It should not have come as a surprise that the majority of Greek voters opted not to accept more externally-imposed austerity, by voting "no" in Sunda...

What Will Save the Euro?

Harlan Green | Posted 07.06.2016 | Business
Harlan Green

Now that Greece has voted "no" on the latest proposal by the European Commission, the European Central Bank, and the International Monetary Fund (the so-called "troika"), will Greece stay in the eurozone? If so, Greece may save the euro.

Markets Around the World Drop 2-4% on Greek Worries.

Natalie Pace | Posted 06.29.2016 | Business
Natalie Pace

The announcement that the banks and stock market in Greece would be closed was made by the Greek Prime Minister on Sunday, June 28, 2015. Within 24 hours, markets around the world declined in value. There wasn't any country you could escape to for safety.

The EU, the Grexit, and Market Failure

Daniel Wagner | Posted 06.26.2016 | Home
Daniel Wagner

An orderly unwinding of Greece's and Europe's debt is possible. If it could be done in the U.S., when a third of all savings and loans associations failed in the 1980s and 1990s, something similar can be done in Europe.

Act III of the Greek Tragedy

Richard Finger | Posted 06.22.2016 | Politics
Richard Finger

What is about to happen in Greece could be another Sophocles sequel.

Merkel Says Greek Bailout Deal Still Possible If Athens Shows The Will

Reuters | Posted 06.18.2016 | Home

By Paul Carrel and Angeliki Koutantou BERLIN/ATHENS, June 18 (Reuters) - German Chancellor Angela Merkel said on Thursday a deal betwe...

Are European Officials Pushing for Regime Change in Greece?

Mark Weisbrot | Posted 06.22.2015 | Home
Mark Weisbrot

While the Greek government cannot do anything to replace its negotiating partners with people more to their liking, the European officials on the other side seem to believe they can do exactly that. And it is becoming increasingly clear that this is their current strategy.

Why Europeans Are Trying to Burn Down Their Central Bank

Mark Dawson | Posted 06.13.2015 | Home
Mark Dawson

BERLIN -- Great crises often produce enduring images. For the Israeli-Palestinian conflict, this has often been a terrified child cowering behind protective parents; for 9/11 it was brave firemen rushing headlong into collapsing buildings. Last month saw what could become one of the lasting images of Europe's unending crisis: the sight of burning cars and buildings after riots outside the European Central Bank.

Are the European Authorities Destroying the Greek Economy in Order to 'Save' It?

Mark Weisbrot | Posted 06.08.2015 | Politics
Mark Weisbrot

There is a tense standoff right now between the Greek government and the European authorities -- sometimes known as the Troika because it includes the European Commission, the European Central Bank (ECB), and the International Monetary Fund (IMF).

Is the Eurozone Drifting Apart?

Stefan Bielmeier | Posted 05.26.2015 | Business
Stefan Bielmeier

It now falls to Europe's politicians to act resolutely to stop the union drifting apart. Their present approach of endless negotiations and compromise formulas risks losing the last vestige of popular support.