Category Archives: Euro zone Crisis

Right now the Icelandic economic method looks a lot better than Euro area austerity

Today sees the Euro area Finance Ministers meet as the EuroGroup to discuss the bailout of Cyprus which is already looking something of a shambles. After the short-lived plan to haircut bank deposits which were supposed to be guaranteed we now … Read More

Posted in Euro zone Crisis, GDP, General Economics, Growth, Uncategorized | Tagged , , , | 25 Comments

Three years on from the original “rescue” Greece sees unemployment hit 27.2%. Some rescue!

This week has seen a reminder of Greece’s famous past as she issues commemorative coins to celebrate the 2400th anniversary of the founding of Plato’s Academy. However I somewhat doubt that coins will be minted anytime soon to celebrate the … Read More

Posted in Employment, Euro zone Crisis, GDP, General Economics, Greek Financial Crisis, Inflation | Tagged , , , , , | 22 Comments

France needs some economic growth rather than record low bond yields

The last few days have seen another addition to the world economic and financial scene and it is La Republique or France where it has been seen in full force. Its government bond market has since the beginning of April … Read More

Posted in Euro zone Crisis, General Economics, Quantitative Easing and Extraordinary Monetary Measures | Tagged , , , | 8 Comments

Portugal shows its resistance to reform as its economic depression deepens

Over the weekend the mainstream media caught onto the fact that there are serious problems in Portugal and her economy. The trigger for this is that the constitutional court had late on Friday rejected some 1.3 billion Euros of the … Read More

Posted in Euro zone Crisis, General Economics, IMF, Recession | Tagged , , , | 31 Comments

Slovenia and its economy should seek help but where can they get it from?

Those who have followed the Euro area crisis will have noted a mention of little Slovenia from time to time as reference was made to her contribution to the bailouts of several of her Euro area partners. One subject which … Read More

Posted in Banks, Euro zone Crisis, General Economics, Recession, Yield | Tagged , , , , | 25 Comments

In spite of Italy’s private wealth her economy is in danger falling into an economic depression

The Easter weekend has come and gone with no solution in sight to the logjam in Italian politics which leaves her rudderless in terms of a government. Back on the 27th of February I mused on whether this would be as … Read More

Posted in Euro zone Crisis, General Economics, Recession, Retail, Uncategorized | Tagged , , , | 22 Comments

Portugal’s economic situation illustrates the intellectual bankruptcy of Euro area austerity

Today is an epoch making day for the Euro area as it is the one where it is officially confirmed that it is no longer a single currency. The imposition of official capital controls in Cyprus where individuals can only withdraw … Read More

Posted in Euro zone Crisis, General Economics, Recession, Stagflation | Tagged , , , , | 39 Comments

The banking crisis in Spain has caused credit crunch mark two in lending and mortgages

The last few days have seen evidence of a banking collapse in Cyprus followed by Eurocrat incompetence in dealing with it. I have lost count of the retractions that the Dutch President of the EuroGroup Jeroen Dijsselbloem has ended up … Read More

Posted in Banks, Euro zone Crisis, GDP, General Economics, Interest rates | Tagged , , , , | 15 Comments

The bailout of banks in Cyprus will lead to economic collapse there

The last week has seen some extraordinary events as the supposedly mighty Euro area and the International Monetary Fund have struggled to deal with the economic problems of little Cyprus. By little I mean that it is 0.2% of Euro … Read More

Posted in Banks, Euro zone Crisis, General Economics, Growth, IMF, Quantitative Easing and Extraordinary Monetary Measures, Recession, Uncategorized | Tagged , , , , | 32 Comments

The economic convergence promised by the Euro founders has turned to dust

One of the themes of the Euro area crisis has been the incompetence of the Eurocrats and the political leadership on display. If we go back to the “shock and awe” claims of the “rescue” of Greece back in May … Read More

Posted in Euro zone Crisis, Financial crisis, GDP, General Economics, Growth, Recession, Yield | Tagged , , , , , , , | 30 Comments