5 Holes In The EU Summit Agreement

This late night European Union Summit had some achievements. France, Italy and Spain insisted on focusing on measures for the current crisis, and not only long terms visions. The leaders agreed on allowing the bailout mechanism to directly recapitalize banks

Map Shows Which States Are The ‘Greeces’ Of America

Earlier today, Angela Merkel issued a dramatic ultimatum about sharing debt loads with other Eurozone countries. We’ve often discussed how this would actually be something of a silver bullet to solving Europe‘s PIGS problem. Now, we have a map that helps illustrate the

Systemic Banking Crises Database: An Update

Systemic Banking Crises Database: An Update

The

IMF recently put out an update to their Systemic Banking Crises Database, a report that examines data from banking crises that have occurred between 1970 and today.

The paper takes a look at the frequency of banking crises over the last forty years.

It also examines how they relate to currency and sovereign debt crises and shows common policy responses to such events.

Greece as Victim

Ever since Greece hit the skids, we’ve heard a lot about what’s wrong with everything Greek. Some of the accusations are true, some are false — but all of them are beside the point. Yes, there are big failings in

GREXIT: A TRAGEDY IN THREE ACTS

GREXIT: A TRAGEDY IN THREE ACTS en.wikipedia.org Oedipus at Colonus, by Jean-Antoine-Théodore Giroust (1788) NEW YORK (AP) — The unthinkable suddenly looks possible. Bankers, governments and investors are starting to prepare for Greece to stop using the euro as its

Obama Tells Donors Europe To Blame For Weak Job Growth

President Barack Obama told campaign donors in Chicago and Minnesota that Europe’s sovereign debt crisis is largely to blame for the slowest month of U.S. employment growth in a year, seeking to counter an issue weighing on his re-election bid. “We’re not where

Euro Declines Most In 2012 On Deepening Turmoil In Spain, Greece

The euro had its biggest weekly loss since December against the dollar as Greece’s anti-bailout party gained in the polls and amid a deepening crisis in Spain. The shared currency fell for a fifth week versus the yen, the longest