Comparison of Greek and English Version of Kathimerini Scoop on Varoufakis Parallel Currency Plan
Filling in some details on a bombshell report about a call that Varoufakis had with hedge fund managers about a parallel currency.
Read more...Category Archives: Banking industry
Reducing Risk-Taking by Regulating Bonuses: EU vs US Dodd-Frank
Bankers whinge about how much tougher their lives are in the post-crisis world. That is no small degree to central banks’ efforts to prop them up having caught up with their bottom lines
Read more...Mario Draghi: The ECB Has No Mandate To Ensure Checks Clear Or Credit Cards Work
By Nathan Tankus, a writer from New York City. Follow him on Twitter at @NathanTankus Last week Mario Draghi held a press conference following the decision to raise ELA a paltry 900 million dollars for Greek banks. In that press conference he said many things but I’d like to focus on one passage that has gotten […]
Read more...Once Again on the IT Challenges in Converting to the Drachma
Why the left is not doing itself, or the Greek people, any favors by minimizing the difficulties in converting to the drachma.
Read more...Gaius Publius: Goldman Sachs – Masters of the Eurozone
Goldman Sachs wields more power in the Eurozone than you think. And it’s not hard to guess who benefits.
Read more...Dan Davies: Greek Banks Were Bigger Beneficiaries of the 2010 Bailout Than French and German Banks
Even though French and German banks benefitted from the 2010 Greek bailout, Greek banks did even more so.
Read more...Ugly Greek Bank Resolutions and Depositor Bail-Ins Coming Soon
Why the coming bank bail-ins in Greece are going to be far more costly in economic terms than most observers imagine.
Read more...New York Times DealBook Underplays Misconduct By Regulatory Fixer Promontory, Under Investigation by New York Department of Financial Services
Promontory Group, which plays a major role in helping financial firms tilt the regulatory playing field in their favor, is about to get a long-overdue comeuppance.
Read more...Bank IT, Grexit, and Systemic Risk
Why bank IT is more of a mess than you possibly imagined, and why that matters.
Read more...Greece and the Missing Banking Union
If the Eurozone had a proper banking union, Greek banks would not now be in crisis.
Read more...What’s Wrong with Inflation Targeting?
Macroeconomic policy focused on inflation targeting is likely to deliver neither macroeconomic stability nor economic development, aka sustainable growth.
Read more...Lagarde Distances the IMF From Implications of Leaked Debt Sustainability Report
By Nathan Tankus, a writer from New York City. Follow him on Twitter at @NathanTankus Earlier this week I did a detailed analysis of the way the media misreported Lew and Lagarde’s statements last week regarding Greece. Yesterday this type of misreporting reared its ugly head again when an update to the Debt Sustainability report […]
Read more...ECB Expected to Continue to Strangle Banks, Not Provide More ELA Funding Today, Despite Greek Parliament Passing Austerity Legislation (Updated: ECB Does Not Provide All of Requested Funding, Attaches New Strings)
The ECB is in full sack-of-Carthage mode if it fails to increase the ELA today to give Greek banks some hope of survival and more important for the economy, of providing payment services to citizens, businesses (particularly importers) and tourists
Read more...Greek Parliament Passes Bailout Legislation
The margin of victory, if you can call it that, was 229 out of 300.
Read more...Convert to the Drachma – Piece of Cake. Right…
Those who consider a Grexit, meaning reintroducing drachma, to be a sine qua non for Greece moving forward have no idea of what that entails.
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