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European Central Bank

Beyond the Eurocrisis: Is More Democratic Governance the Solution for Europe?

Luka Orešković | Posted 05.23.2013 | Politics
Luka Orešković

If invested with popular legitimacy, Europe's success will depend on balancing it with long-term focused meritocratic governance and avoiding capture by short-term and particular special interests. A middle Way between West and East is indeed necessary.

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...

Cyprus Bailout To Hit $30 Billion

AP | JUERGEN BAETZ | Posted 04.12.2013 | Business

BRUSSELS — The cost of bailing out Cyprus has swollen to 23 billion euros ($30 billion), with the crisis-hit country having to take on the lion'...

Crafting the Cyprus Deal: A Road Filled With Blunders

David Catalan | Posted 03.31.2013 | Business
David Catalan

The role of the Troika in bailing out governments and banks is nothing new, but the solutions put forward by EU leaders to improve the Cypriot crisis seem to be founded on little foresight, and without regard for the tragic mistakes of the past few years.

The Crisis Isn't Just in Cyprus

Terry Savage | Posted 03.27.2013 | World
Terry Savage

Could it happen here? It's unlikely that in America you'd see that kind of outright grab on the part of the government, for any reason, (unless you think back to the gold confiscation of the 1930s). And in America, we're very aware of our deposit insurance limitations.

3 Ways Cyprus Is a 'Game Changer' for Europe

Gemma Godfrey | Posted 03.27.2013 | Business
Gemma Godfrey

With the Fed likely to remain accommodative, bullish market sentiment may continue to overshadow concerns elsewhere. However, Cyprus has highlighted that we're far from an end to the crisis.

The Cyprus Deal Signals a Rise in the Far Right in Europe

Daniel Wagner | Posted 03.25.2013 | World
Daniel Wagner

News of the 10-billion-euro bailout for Cyprus should not be cause for celebration. Europeans are rightly insecure about what comes next, as they should be given the precedent that has been set.

Cyprus Reaches Bailout Deal With International Lenders

Reuters | Posted 03.25.2013 | Business

* Deal to shut Laiki bank, transfer insured deposits * Clinched hours before Monday deadline to seal EU bailout * Without deal banks faced colla...

Be Bullish! Bernanke Has Spoken!

Michael Farr | Posted 03.22.2013 | Business
Michael Farr

On the heel of Cypriot bank-deposit delirium, we suspect that the U.S. central bankers had more than enough concern to hold firm to the seemingly limitless flow of monetary easing.

ECB: Cyprus Is Four Days Away From Bankruptcy

AP | MENELAOS HADJICOSTIS and ELENA BECATOROS | Posted 05.21.2013 | Business

NICOSIA, Cyprus — Cypriot politicians moved Thursday to restructure the country's most troubled bank as part of a broader bailout plan that must...

On the Ground in Europe

Mohamed A. El-Erian | Posted 05.20.2013 | Business
Mohamed A. El-Erian

As they scramble to sort out the mess in Cyprus, European officials would be well advised to constantly remind themselves of a reality that I suspect extends across the continent: Despite all the happy talk about smaller deficits and lower sovereign credit spreads, citizens are yet to feel any notable improvement in their actual standard of living and in their prospects. Day in and day out, this situation undermines the population's confidence in the timely responsiveness of their elected representatives, the political system and traditional political parties. The longer this persists, the harder it will be to pivot to the type of policy reforms needed to decisively avoid more years of economic difficulties.

Implications of Europe's Stumble in Cyprus

Daniel Wagner | Posted 05.19.2013 | Business
Daniel Wagner

Cyprus has, for the first time, demonstrated there is in fact a limit to what northern European countries will do to preserve the illusion that Euro land can remain a cohesive and equal entity.

Blaming the Victims: Mario Draghi on Mass Unemployment in Europe

Robert E. Prasch | Posted 05.19.2013 | Business
Robert E. Prasch

Bankers -- and I kid you not, they do believe this -- are absolutely certain that they are victims of what has occurred, and for that reason are in no way or manner responsible for the ongoing crisis that is still destroying the economic prospects of tens of millions of people.

What You Should Know About the Cyprus Controversy

Mohamed A. El-Erian | Posted 05.17.2013 | World
Mohamed A. El-Erian

On Saturday, European officials stunned Cypriots (and many others) by announcing a rescue package for their country that involves a levy on all bank deposits. The news is spreading far and wide, causing quite a bit of controversy in the process.

From Rome With Love? The Three Issues to Watch for Italy and Global Markets

Gemma Godfrey | Posted 04.30.2013 | Business
Gemma Godfrey

The possible loss of eagerly anticipated labour reforms, financial restrictions and market contagion provide shorter term sources of turmoil. However, existing reforms are likely to continue, market retrenchment is healthy and to be exploited for longer term opportunities.

Stealing Greece From the Greeks

Evaggelos Vallianatos | Posted 02.20.2013 | World
Evaggelos Vallianatos

Greece set the foundations of our civilization primarily because of her legacy of knowledge. Homer, Plato, Aristotle and Archimedes, and a galaxy of ...

Good News For European Banks

Reuters | Posted 04.20.2013 | Business

* German banks' use of ECB funds drops to 49.5 bln end-Jan * Banks from euro zone core pay back 3-yr loans early * Itali...

Europe: Toward a More Perfect Union

Nemat Shafik | Posted 04.17.2013 | Business
Nemat Shafik

During the years that followed the euro's introduction, financial integration proceeded rapidly and markets and governments hailed it as a sign of success. But in fact, a lasting convergence in productivity did not materialize. So where do we stand, and what more is needed?

How Europe Is Building for the Future

Gay Mitchell MEP | Posted 04.06.2013 | World
Gay Mitchell MEP

To date the EU, which is still a work in progress, has shown remarkable resilience in dealing with the crisis. We have some way to go but let's at least acknowledge the progress that is being made.

Central Bankers Making New Moves To Spur Global Economy

Reuters | Posted 04.05.2013 | Business

* Draghi, Carney to hog spotlight * ECB, BOE firmly on hold but unease stir over euro strength * Trade data eyed for sig...

Eurozone Gets Some Good News

AP | By PAN PYLAS | Posted 04.03.2013 | Business

LONDON (AP) — Mention it quietly, but there were rare hopeful signs for Europe's struggling economy on Friday. Three pieces of econom...

What They Aren't Telling Us About European Unity

Gemma Godfrey | Posted 03.23.2013 | World
Gemma Godfrey

Huge strides forward in Europe and subsequent market rallies have raised hopes for the region. So is the road to recovery now clear or are significant risks still present? Crucially, what are the key areas of conflict we should be watching closely and which are 'red herrings'?

The Euro Will Not Collapse, Neither Will Greece Exit the Euro

Georges Ugeux | Posted 02.12.2013 | Business
Georges Ugeux

The road-map is there. The road remains arduous, full of ambushes and challenging. During that journey, the Euro will remain as the anchor of European economic integration and Greece will be part of the trip.

Greece Bailout Crisis a Warning for U.S. Politicians Facing the Nation's Fiscal Cliff

Sheldon Filger | Posted 01.21.2013 | World
Sheldon Filger

Greece is not only suffering appalling economic devastation. It is also presenting to the world a modern-day national Cassandra, with a prophetic warning that is especially relevant for American policymakers.

Mr. Draghi's Dangerous Confidence Game

Laurence J. Kotlikoff | Posted 01.08.2013 | Home
Laurence J. Kotlikoff

European Central Bank (ECB) Chairman Draghi has a very big agenda. Armed with only a printing press, he's pledging to directly bail out the GIIPS (Greece, Italy, Ireland, Portugal and Spain) and indirectly bail out their economies.