Category Archives: Euro zone Crisis

When it comes to a choice between the Greek people and the banks the ECB chooses itself and the banks

Developments over the weekend concerning Greece and her parlous financial situation have dominated the news over the weekend. On the one hand some media organisations such as the BBC’s Newsnight and the New York Times tried to explain what reality is now … Read More

Posted in Banks, Euro zone Crisis, General Economics, Greek Financial Crisis, IMF, Quantitative Easing and Extraordinary Monetary Measures | 15 Comments

Greek deal is probably undeliverable, warns Pimco

Finally, after what must have been some of the most painful arm twisting in history, in a historic late night sitting, with the policemen outside the Greek Parliament dodging the flames from Molatov cocktails thrown by seriously angry protestors, the … Read More

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The price of oil has risen in 2012 and it is the Euro zone that is worst affected yet again!

Today I wish to go behind the news,or at least the news in the mainstream media, and take a look at a powerful influence on the world economy which only gets more than a passing mention when it moves to … Read More

Posted in Euro zone Crisis, General Economics, Gilts, Greek Financial Crisis, Inflation, Quantitative Easing and Extraordinary Monetary Measures, Stagflation, UK Inflation Prospects and Issues | 17 Comments

The Gap between the economies of Greece and Germany has widened by 10% in 2011. Currency union anyone?

Yesterday gave us a new development in the ongoing farce which of course is also a tragedy that is the Euro zones so-called rescue of Greece. In the early afternoon we had Commissioner Rehn telling us this. To my knowledge … Read More

Posted in Euro zone Crisis, GDP, General Economics, Greek Financial Crisis, Quantitative Easing and Extraordinary Monetary Measures | 34 Comments

How the necessary Greek devaluation and default should and hopefully would happen

Yesterday was a day of great shame for Greece. However I wish to distinguish myself from the rolling 24 hours news coverage of the protest and the separate riot and firebombing. For me the great shame was Greece’s Parliament approving … Read More

Posted in Banks, Euro zone Crisis, Greek Financial Crisis, IMF, Quantitative Easing and Extraordinary Monetary Measures | 71 Comments

Do not let Portugal and Spain become another Greece as they are all getting very near to a lost decade

The saga that is Greece resembles what is called car-crash television more and more each day. After yet more promises of a deal yesterday it turned out that instead we got groundhog day and no deal. However I wish to … Read More

Posted in Euro zone Crisis, General Economics, Greek Financial Crisis, Interest rates, Quantitative Easing and Extraordinary Monetary Measures, Stagflation | 13 Comments

The plans for European Central Bank Greek debt haircut involvement merely pass the parcel yet again

Today has opened with yet more news on the Greek debt haircut or private-sector involvement deal and this time we seem to have rumours of as new acronym which is OSI or Official Sector Involvement. In particular this revolves around … Read More

Posted in Banks, Euro zone Crisis, General Economics, Greek Financial Crisis, Quantitative Easing and Extraordinary Monetary Measures, Yield | 16 Comments

Who will be affected by the Baltic Dry Index’s fall? Europe’s banks and Greece lead the list yet again

Today opens with my subject of yesterday even more in the headlines as the various official bodies involved make even more of a mess of an already grim situation. However today I want to take a look at something which … Read More

Posted in Banks, Euro zone Crisis, General Economics, Greek Financial Crisis, Yield | 9 Comments

Greece must not sign the troika’s new deal otherwise she will revisit the 1930s with all that entails

Today is yet another day where deadlines for debt and bailout deals for Greece have come and gone with no resolution. It is also a day with a grim historical portent as on this day some 179 years ago a Bavarian … Read More

Posted in Euro zone Crisis, General Economics, Greek Financial Crisis, IMF, Yield | 54 Comments

Is austerity working in Ireland? Part two

Back on October 6th I discussed whether austerity was working in Ireland or not and it is time I feel to review again where she stands. In the meantime I have seen yet again commentators and the media veer between … Read More

Posted in Euro zone Crisis, General Economics, House Prices, IMF, Quantitative Easing and Extraordinary Monetary Measures | 15 Comments