The History of European Macroeconomics and Exchange Rate Policy
This is a very readable and important account of how Europe came to embrace some of the key elements of its current monetary policy and exchange rate straitjacket.
Read more...Category Archives: Currencies
Odds Favor a Greece Deal Failure and Defacto Grexit
The odds now favor the tentative deal struck over the weekend to “rescue” Greece, which many have correctly depicted as a brutal economic colonization of Greece by its lenders, coming unraveled.
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...Greeks Rebel Against Bailout, Risk Collapse
Greek unions and other groups are mobilizing against the punitive deal tentatively agreed with Greece’s creditors. But can they really stand in its way?
Read more...The IMF’s Olivier Blanchard Writes a Greek Tragedy
The IMF’s research head, Olivier Blanchard, attempted to defend the IMF’s sorry record in Greece. What if any of his argument makes sense?
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 Has Made No Preparation for a Grexit
This is as bad as we’ve feared.
Read more...A Grexit Looks Almost Inescapable
Despite my generally dour outlook, I never thought we’d arrive at the insane juncture we are at now, that of a Grexit being all but baked in.
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?
Read more...“Tsipras Has Just Destroyed Greece”
Tsipras has managed to deliver to the neoliberals a victory more complete than they could ever have engineered on their own.
Read more...Grexit: Your Humble Guest Writer Talks to YSI INET
Nathan Tankus talks to YSI INET about a Grexit and Greece
Read more...Chinese Stock Market Rout Continues; Trading Halted in Over Half of Listed Stocks
The Chinese stock market meltdown is accelerating despite government intervention and is blowing back to commodities markets, including copper and oil, which are trading down based on concern that the stock market plunge is a harbinger of even more economic weakness. And the decline may represent the beginning of the end of the faith in China’s command and control economy.
Read more...Ambrose Evans-Pritchard: Tsipras Never Wanted to Win Referendum, is “Trapped” and “Depressed,” Syriza in “Turmoil” (Updated)
Ambrose Evans-Pritchard has a bombshell report: Syriza never wanted to win the referendum and is now desperately contending with events that are spinning out of his control.
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