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...Category Archives: Banking industry
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.
Read more...IMF Throws a Spanner in Proposed Greece Deal, Says Debt Reduction May Not Be Enough
The IMF has dropped a big shoe before the Greek government has passed any of the legislation required as part of its pending bailout. But if this development leads to more wrangling, that means an even longer delay before Greek banks get any liquidity, which means continued strangulation of the Greek economy.
Read more...Tentative Deal Strips Greece of Sovereignty, Makes Debt Relief Dependent on Compliance
The tentative deal deal with Greece and its creditors is simply vicious.
Read more...“Greece Brought a Latte to a Gunfight”
How Greece, and in particular, Yanis Varoufakis, grossly misunderstood German interests and how that led Greece to destroy itself and further German rule.
Read more...Greece Should Beware of Merchant Services Providers Bearing DDCs
Solving the mystery of how a hotel guest’s bill in Greece came to be (briefly) denominated in drachmas.
Read more...Perry Mehrling: China’s Rocky Road Ahead, Financial Liberalization versus Financial Stability
Will China’s renminbi transition smoothly to reserve currency status, or not? And should it?
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