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IOU 240 Euros, It's My Problem; IOU 240 Billion Euros, It's Your Problem!

Terry Connelly | Posted 02.18.2015 | Business
Terry Connelly

The first thing to know is that nobody should sell or buy a lot of US stocks or bonds because of the unfolding late-inning melodrama between the new g...

Who's Extorting Whom? It's All About Coercion

Mark Weisbrot | Posted 02.17.2015 | World
Mark Weisbrot

The Economist's Feb. 6 cover displayed the Venus de Milo statue pointing a revolver, with the headline "Go ahead, Angela, make my day." In the editors' upside-down world, Greece is threatening Europe, or at least Germany. Really?

ECB Paddles Both Ways in the Rubicon

Stephen G. Cecchetti | Posted 02.09.2015 | Business
Stephen G. Cecchetti

On January 22, the ECB crossed the Rubicon twice -- but in opposite directions. In an effort to combat deflation and years of anemic growth, the central bank announced a sustained program of large-scale asset purchases.

ECB Steps Up Financial Pressure On Greece To Reach Deal

Reuters | Posted 02.05.2015 | World

By John O'Donnell and Jan Strupczewski FRANKFURT/BRUSSELS, Feb 4 (Reuters) - The European Central Bank abruptly canceled its accept...

Swexit: How Switzerlands' Prudent Economic Policies Got It Into Trouble

OpedSpace | Posted 01.29.2015 | Business
OpedSpace

On January 15, the Swiss National Bank (SNB) shocked international markets by abandoning the 3-year-old exchange rate floor of 1.20 Swiss Franc (CHF) per Euro (EUR). Put simply, this means that the SNB stopped spending billions of Swiss Francs to buy euro-denominated bonds.

The ECB's Not-So-Sweet 16th

Kermit Schoenholtz | Posted 01.13.2015 | Business
Kermit Schoenholtz

If the ECB is willing to use all its available tools without limit, there is little reason to doubt that it can hit its inflation target of close to 2%. However, making that policy commitment credible remains a great challenge because of the controversy and dissent about acquiring risky government debt.

Why a Greek Exit Should Be Feared

Gemma Godfrey | Posted 01.06.2015 | Business
Gemma Godfrey

A Greek exit from the Eurozone could be catastrophic. The country would be shunned from international markets, with a new/old currency that would devalue severely. Nevertheless, the bigger risk for investors is that the turmoil spreads to larger neighboring countries.

Ben Walsh

Tim Geithner: The 3 Words That Saved The Euro Were Ad-Libbed

HuffingtonPost.com | Ben Walsh | Posted 11.13.2014 | Business

TK TK

Europe Faces Winter on the Edge of the Abyss

Llewellyn King | Posted 01.11.2015 | Politics
Llewellyn King

There is another world crisis brewing -- and one for which President Obama cannot be blamed. The Europeans have made a mess of things, and now the wolves are at the door. The first snarling wolf is deflation.

The ECB Assessment of Eurozone Banks' Health Will Not Dissipate Fundamental Questions

Georges Ugeux | Posted 12.26.2014 | Business
Georges Ugeux

After months of waiting, we just received the results of the assessment of the health of Eurozone banks by their new supervisory authority: the European Central Bank. They were predictable, but the exercise has limitations.

25 European Banks Fail Stress Test

Reuters | By Laura Noonan and Eva Taylor | Posted 10.27.2014 | Business

FRANKFURT, Oct 26 (Reuters) - Twenty five of the euro zone's 130 biggest banks have failed a landmark health check and ended last year with a collecti...

The ECB Needs a Plan B for Its Monetary Policy

Jakob von Uexkull | Posted 12.08.2014 | Politics
Jakob von Uexkull

With the introduction of a negative interest rate on excess bank deposits, it has become clear that the ECB is running out of options. The institution's most important financial political tool - the interest channel - has failed in its objective to encourage lending for investment to curb deflation.

Draghi's Desperation

Milton Ezrati | Posted 11.30.2014 | World
Milton Ezrati

The European Central Bank (ECB) faces a desperate situation. Remarkably low inflation is stealing its ability to ease the euro zone's fiscal-financial strains and, consequently, its ability to buy time for the zone's governments to implement desperately needed budgetary and economic reforms.

The Beauty Of Scandinavia's Street Art Culture

Jaime Rojo & Steven Harrington | Posted 09.25.2014 | Arts
Jaime Rojo & Steven Harrington

It isn't just Nuart any more. Scandinavia is taking their mural festivals seriously thanks to buoyant economies, arts programming support, and a gr...

Europe's Austerity-Fueled Depression Keeps Getting Worse

The Huffington Post | Mark Gongloff | Posted 09.04.2014 | Business

Europe's central bank just slashed interest rates and launched emergency stimulus measures -- but six years too late, and not enough to counter the au...

What Is the Purpose of the ECB?

Jacques Attali | Posted 09.07.2014 | Business
Jacques Attali

The European Central Bank is today obliged to do exactly the opposite of what is set out by the Treaties: lending to States in order to finance their debts. And to do this just about the worst way: by providing the banks at almost no cost with the means to lend subsequently to States while they target higher lending margins.

Welcome To India's First Street Art Festival

Jaime Rojo & Steven Harrington | Posted 08.04.2014 | Arts
Jaime Rojo & Steven Harrington

n what is billed as India's very first street art festival the south Delhi neighborhood of Shahpur Jat hosted a collection of international and local artists this spring to paint murals while a public who is not quite acquainted with public art asked many questions.

5 Things You Need to Know to Profit in Europe

Gemma Godfrey | Posted 06.28.2014 | Business
Gemma Godfrey

As an investor, misunderstandings and overreaction can offer some of the best opportunities to profit. Here, five widely held beliefs are challenged and attractive investment strategies revealed.

Germany and Europe in 2014: A Conversation With Christoph Schmidt

Luka Orešković | Posted 05.05.2014 | Politics
Luka Orešković

Starting with the most heated topic of the moment, Schmidt's belief is that, although OMT has worked well so far, it is stretching the mandate of ECB too far, especially with the limitlessness of the transactions.

Weidmann at Harvard: The Sovereign-Banking Nexus

Luka Orešković | Posted 02.05.2014 | Business
Luka Orešković

Weidmann's "separatist" view clearly stems from the German concept of highly independent central banking, assuring price stability rather than trying to target other problems and ensure macroeconomic stability.

The Euro Zone Is In Big Trouble

Reuters | Posted 11.07.2013 | Business

FRANKFURT, Nov 7 (Reuters) - The European Central Bank cut its main interest rate on Thursday to a new record low of 0.25 percent, responding to a sur...

Unlucky Number 13: Is Slovenia Next in Line for a Bailout?

Luka Orešković | Posted 07.02.2013 | Business
Luka Orešković

While some hope of a miracle occurring in the coming months remains, so does the question of whether the new Slovenian government is willing to invest enough political capital to push through the necessary reforms before the capital markets decide to lock Slovenia out once again.

Mark Gongloff

ECB Rate Cut Is Too Little, Too Late

HuffingtonPost.com | Mark Gongloff | Posted 05.02.2013 | Business

European policy makers have rushed to the aid of their lifeless economy, cutting interest rates and promising that more help is on the way. Too bad th...

How to Read the Week's Economic and Market Signals

Mohamed A. El-Erian | Posted 06.27.2013 | Business
Mohamed A. El-Erian

Expect next week's policy meetings to signal that central bank stand ready to step in, once again, to maintain the disconnect between buoyant equity markets and sluggish economic conditions -- not as an end in itself but, given Congressional dysfunction, as virtually the only way today to support economic activity (and it is rather imperfect as the expected benefits come with growing costs and risks). Look for the Federal Reserve to alter the thrust of its policy narrative. Rather than advance its prior emphasis on tapering its monthly $85 billion purchases of market securities, it will seek to reassure markets by iterating its willingness to do more if needed. Across the Atlantic, the European Central Bank will face increasing pressure to cut its interest rate (currently at 0.75%) and liberalize the collateral requirements it imposes -- both meant to loosen monetary conditions.

Greece's Daily Torment

Justine Frangouli-Argyris | Posted 06.11.2013 | World
Justine Frangouli-Argyris

Trapped by the relentless demands of its northern European partners, Greece has become a disturbing model of idleness and stagnation.