Euro Leaders Stumble, Central Bank Quiet Savior
Without a convincing political plan for short term relief, the European Central Bank continues to buy peripheral bonds.
European Central Bank
Bank Recapitalization Will Make Euro Crisis Worse
Recapitalizing banks after they bought worthless Greek debt when they should have known better isn’t just wrong; it won’t work.
Italy’s Berlusconi Reneges on Austerity Pact
Italy revokes €5 billion in planned austerity measures in order to appease regional political parties.
European Central Bank to the Rescue
Frankfurt moves to purchase Italian and Spanish sovereign bonds in an attempt to defuse the European debt crisis.
Is Austerity Failing?
Paul Krugman doesn’t tell the whole story when he points at Greece to argue against spending cuts.
ECB’s Recommendations for Sound Fiscal Policy
The European Central Bank points out that the effects of excessive stimulus spending have been negligible.
European Bank President Urges Budget Cuts
In the words of Jean-Claude Trichet, “monetary policy responsibility cannot substitute for government irresponsibility.” Europe has to cut spending.
World Critical of American Monetary Policy
From Europe to Russia to China, countries fiercely criticize the American Federal Reserve for its expansionary policy.
Saving the Euro
Bending the rules of euro management, European leaders and finance ministers agreed to an unprecedented effort to guarantee the stability of the eurozone with loans adding up to nearly $1 trillion (or €750 billion) this weekend. In spite of the multibillion euro rescue package previously pledged to Greece, investors continued to worry about the unsound […]
Euro Resentment Demands New Rules
Euroskepticism is abound anew. Where previously economist Paul Krugman argued that Greece could have weathered its fiscal crisis if it had retained its own currency, Judy Dempsey reports that Germans are increasingly nostalgic for their Deutsche Mark. “For Germans,” writes Dempsey, “the mark was more than just currency.” It represented the country’s postwar recovery, the […]