Eurogroup Ministers to Syriza: Drop Dead
Even though the US has waded into the Greece versus Troika impasse to press Eurozone officials to soften their position on austerity, the battle lines seem only to get harder.
Read more...Author Archives: Yves Smith
Geithner: “The End of Capitalism as We Know It”
Bill Black flags yet another Geithner moment that deserves to live in infamy.
Read more...Outlook Darkens for Syriza and Greece
Greece’s finances look to be more precarious than previously thought, which puts Syriza in an even weaker bargaining position.
Read more...Links 2/10/15
Obama, Treasury Pushing Back Against Troika Grexit Threats; Bernie Sanders Presses for Fed to Prod ECB
The Administration realizes the risk of Grexit is real and is trying to fend that off. But even if they succeed, don’t expect that to add up to much in the way of relief for Greece.
Read more...Wolf Richter: Wall Street Has a Dream About the Price of Oil
Is Wall Street’s upbeat take on the prospect for a continued recovery in oil prices credible?
Read more...Former CFTC Commissioner Michael Greenberger: “We’re Going to be Back Where We Were in 2008”
This interview with former CFTC Commissioner Michael Greenberger provides useful detail on why financial reform proved to be so weak.
Read more...John Helmer: Amazing Pentagon Weapon Penetrates Putin’s Brain Before He Was Born – President Reagan’s Brain Secret Confirmed, With Poroshekno’s and Nuland’s
If you’ve read The Men Who Stare at Goats, you already know that the defense establishment has a peculiar fondness for funding quackery. But this is still a doozy.
Read more...Is Syriza About to Score a Tactical Win Against the Troika?
Those who were hoping that Syriza would be cowed by the ECB’s aggressive moves to shut Greece out of bond markets and Eurozone finance ministers’ unified resistance to the new government’s proposals are no doubt frustrated by its refusal to capitulate. On Sunday, Greek prime minister Alexis Tsipras gave a rousing speech reaffirming Syriza’s plans.
Read more...Bernie Sanders Asks Janet Yellen to Explain Her Apparent Inaction on Greece
Last week, we wondered why the Fed was tacitly supporting the ECB shellacking of Greece. It appears the same thing occurred to Senator Bernie Sanders.
Read more...Links 2/7/15
Michael Pettis: Syriza and the French Indemnity of 1871-73
Get a cup of coffee. This is a fabulous, readable but nevertheless carefully argued and therefore long post on the drivers of the Eurzone crisis and what the parameters for a sensible resolutions are.
Read more...Bracing for Another Storm in Emerging Markets
This post dovetails with the Michael Pettis article today. Hot money is the bane of emerging markets, but the opposition to regulating capital flows remains fierce.
Read more...John Helmer: The Political Motivation of Chancellor Merkel’s Embrace of Yulia Tymoshenko, and War
Two-front wars in Europe aren’t good for Germany.
Read more...Greece Still Defiant After ECB Mugging
Some brief updates, with more on Monday.
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