Outfoxed by Club Med German Dominance in Doubt after Summit Defeat

Chancellor Merkel suffered a bruising defeat at last week’s Brussels summit after the leaders of Italy, Spain and France ganged up on her. Europe’s power relations have shifted as a result. It looks like Germany will no longer be calling

Greek diaspora tapped for donations to cancel debt

Vangelis Marinakis, the owner of Olympiakos Football Club – is said to have contributed 3,000 euros for each of the club’s 55 staff Greeks living abroad are being asked to contribute to a charity domiciled in Delaware that plans to

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.

12 Reasons Why The US Recession Has Already Arrived

US Manufacturing PMI Markit reports PMI signals weakest manufacturing expansion in 11 months Key points: PMI lowest since July 2011, suggesting slower rate of manufacturing expansion Rate of output growth broadly unchanged New orders rise at weakest pace in four months Input

The German Economy Has Cracked

  A significant economic event has taken place in Europe today… All through the crisis, the German economy has been stunningly resilient, despite the fact that all of its natural export markets were collapsing. The miracle run is coming to

Saving the Euro Europe Under Pressure to Fulfil G-20 Promises

dapd World leaders emerged from the G-20 meeting in Mexico satisfied that Europe is making progress on efforts to save the common currency from collapse. But now the euro zone must come up with a concrete plan. Expectations are high

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Key to a Stronger Recovery: A Bolder Fed

  In testimony to Congress on Thursday, Federal Reserve Chairman Ben S. Bernanke was careful not to commit himself to further monetary stimulus. We’re thinking about it, he said, presenting a minutely evenhanded review of the arguments for and against. The Fed ought to

Four years after the onse…

Four years after the onset of the Great Recession, a second and possibly worse global slump is starting to seem possible. If this happens, governments won’t be able to say they were taken by surprise. It will happen because governments have frozen in the face of hazards that are well understood and readily avoidable.

It’s hard to say whether the policy paralysis is worse in Europe or the U.S. I give the edge to Europe, where the failure of leadership has been more thorough and sustained. Still, the difficulties in the U.S. are easier to overcome, so neglecting them is more boldly incompetent. The country’s politicians, busy campaigning, have effectively said they’ll get back to us, maybe, after November’s elections. That’s audacious.

http://www.bloomberg.com/news/2012-06-05/u-s-and-europe-have-no-excuse-for-next-recession.html