Category Archives: Europe

The ECB’s Original Sin and Franco Modigliani’s Long View

Franco Modigliani foresaw how the ECB and the Eurozone architecture had an anti-growth bias and proposed remedies that were ignored.

Hard Times for Italian Banks

The overview: “They argue that rather than spending time revising rules that have already been agreed, alternatives should be considered to make the guarantee schemes as effective as possible.” Translation: “Time to go back to the drawing board.”

Anyone Want to Buy Deutsche Bank?

Some more reasons why Deutsche Bank looks like one to avoid

Michael Hudson Discusses the New Global Financial Cold War

Michael Hudson discusses his paper, The IMF Changes Its Rules To Isolate China and Russia, and how jockeying among the big power players is becoming more visible and higher stakes.

Will German Sovereign Debt “Bail In” Scheme Destroy the Eurozone?

Germany is keen on implementing a sovereign bail-in plan that is certain to precipitate a crisis, but more likely a banking crisis than a breakup.

Eurobanks: The Probable Point of Failure as Systemic Stress Rises

Why Eurobanks are the most likely fracture point if current economic stresses continue.

John Helmer: Strauss-Kahn Finds a New Way of Dropping His Pants

Strauss-Kahn demonstrates that even tarnished brand names can still be monetized.

New York Times’ Bank-Boosting, Neoliberal-Excusing Story of the Global Debt Hangover

A new story at the New York Times on the global debt overhang is an economically warped account that omits important policy options.

Why the Neoclassical Story About German Wage “Moderation” Causing the Eurozone Crisis is Wrong

Focusing on German wage “moderation,” as in restriction, leads to a neat, plausible, and wrong tale of what caused the Eurozone crisis.

Grexit Risk May Be Back Sooner Than You Think

Why Grexit is likely to be back on the table by summer.

Wobbly Italian Banks May Get “Bad Bank” Resolution Vehicle

Italian banks’ extend and pretend game may be coming to an end.

The Implications of Foreign Minister Lavrov’s Snub of Victoria Nuland

The reign of neocons, as symbolized by State Department Victoria Nuland’s “Fuck the EU” remark, may be past its sell-by date.

Former BIS Chief Economist Warns of Massive Debt Defaults, Need for Debt Jubilee; Fingers Europe as First in Line

Even though the former chief economist of the BIS calls for a debt jubilee, it’s only part of the medicine needed to get the economy out of the ditch.

How Europe Will Fail to Address the Migration Crisis in Early 2016

Explaining the reasons for Europe’s gridlock on its migration crisis.