Wolf Richter: When Betting on QE Suddenly Goes Wrong
Central banks think they’re omnipotent – until they aren’t.
Read more...Category Archives: Europe
Greece: An Endgame Finally in Sight?
The noose continues to tighten on Greece.
Read more...Michael Hudson: Ukraine’s “Operation Vulture” and Labor Protests
Hudson’s so-called “Operation Vulture,” the strip-mining of what little is left of a functioning economy in Ukraine, comes straight out of the neoliberal playbook.
Read more...Corruptionomics in Italy
As reader Li, an international road warrior, says, “America is getting to be just like Italy, except without the attractive men.”
Read more...A Parallel Currency for Greece: Part II
Yves here. I’m quite interested in reader reactions to this scheme. My big reservation is that the amount of the scrip devised by the authors, the TCC, has to be limited to the an amount of discount of future tax payments that is deemed to be credible. Given that Bill Mitchell has estimated that Greece […]
Read more...A Parallel Currency for Greece: Part I
A review of the pros and cons of various parallel currency options for Greece.
Read more...Ilargi: Mario Draghi’s Slippery Downward Slope
Mario Draghi is more and more visibly meddling in politics, yet another reminder that central bank “independence” is a fig leaf.
Read more...The Not-Brexit Negotiations as UK Referendum Looms
While virtually no one expects a Brexit, history suggests would be naive to expect the upcoming negotiations between the UK and EU to be a cakewalk.
Read more...Are The IMF and the EU at Loggerheads Over Greece?
An overview of the history of the economic dispute between the IMF and the Eurozone creditors over Greece, and what that means for the ongoing negotiations.
Read more...John Helmer: How Angela Merkel Has Been Abandoned By John Kerry, Victoria Nuland, And Vladimir Putin
How Merkel was sidelined in negotiations over Ukraine.
Read more...European Commission Tables Proposal on Greece to Break Logjam [Updated: EC Issues Denial]
More fog of reporting….did the European Commission lodge a proposal to break the Greek negotiating logjam? If so, it’s backpedaling at high speed.
Read more...Greece Cornered as IMF and ECB Refuse to Relent
A flurry of stories this weekend confirms that Greece and its creditors remain hopelessly at odds. The inertial path is to a Greek default
Read more...Greece’s Hot Summer
Figures confirm the pattern already observed last month, with a marked improvement in the primary balance achieved mostly via expenditure cuts and a more limited improvement in revenues.
Read more...“Why Syriza Will Blink”
Anatole Kaletsky has a cognent, forcefully argued new article at the Project Syndicate website, Why Syriza Will Blink, which independently comes to the conclusion we’ve reached, that the winning strategy for the creditors is to keep Greece in the sweatbox and use worsening economic and social conditions in Greece to crush domestic support for Syriza. Kaletsky goes further than we have, arguing that this is the course the Troika is taking, and the new coalition should have anticipated this as a likely strategy, since it’s the same one they used successfully against Cyprus two years ago.
Read more...Is the Push for Greater European Integration a Mistake?
The assumption among policy elites that more European integration will heal the union’s ills may be misguided.
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