The European Central Bank Is a Much Bigger Problem for Italy’s Young Than the Elderly

By: Thursday July 18, 2013 6:20 pm

A New York Times article reported on the aging of Italy’s population and bizarrely implied that this was the cause of high youth unemployment.


Who Would Keep Their Euros in a Non-German Bank?

By: Monday March 25, 2013 8:30 am

Apparently a new plan has been agreed on to deal with Cyprus. Unlike the original plan to tax all depositors, this new plan would take huge amounts of money from depositors with accounts worth more than 100,000 euros. The plan would hit both of the country’s largest banks, even though only one was in immediate trouble.

I’m not an expert on Cyprus so I can’t speak to the details of this plan but as a regular person the whole saga leaves me with one conclusion: Only an idiot would keep their euros in a non-German bank.

German Court Approves European Bailout Fund

By: Wednesday September 12, 2012 8:00 am

A German constitutional court has allowed the new European bailout fund, the European Stability Mechanism (ESM), to go forward, with only one condition that appears surmountable.

ECB Bond-Buying Proposal Confirmed By Second Media Outlet

By: Tuesday August 21, 2012 10:00 am

The European Central Bank spent most of yesterday rejecting any hope of an imminent intervention in the European bond markets, to put a cap on the spread between the yields of the cheapest and most expensive sovereign bonds. But Ambrose Evans-Pritchard of the Telegraph (UK) not only confirmed the existence of the program, but said Germany would get behind it.

European Central Bank Floats and then Denies Mass Bond-Buying Scheme

By: Monday August 20, 2012 9:25 am

According to the German magazine Der Spiegel, the European Central Bank has floated a scheme to set limits on bond yields for sovereign debt among member nations in the Eurozone, essentially through a mass bond-buying program. But the ECB quickly put out something like a denial.

ECB Takes No Policy Action, Europe Tanking

By: Thursday August 2, 2012 8:10 am

Europe is tanking today after the European Central Bank’s Mario Draghi quite literally failed to put his money where his mouth is. Last week, Europe cheered when Draghi said in a press conference that the ECB would do “whatever it takes” to save the euro. He also said that the high bond yields in Spain and Italy interfered with his ability to conduct monetary policy.

Mario Draghi Is Not the Market

By: Thursday December 8, 2011 6:40 pm

Harold Meyerson confuses them today in an otherwise useful column on how democratic governments are being forced aside due to economic pressures.

Euro Watch: Train Wreck Continues as German(!) Bond Auction Fails

By: Wednesday November 23, 2011 2:45 pm

Until now, German bonds have been seen as the safe Euro debt that investors could still hold, but investors threatened to blow right by that safety valve today when they bought less than two thirds of the German bonds up for auction.

Analysts Fed Up With European Austerity Morality Play

By: Wednesday September 28, 2011 8:00 am

The Greek Parliament passed a property tax levy, the latest austerity measure imposed by Greece’s creditors as a condition for receiving the next installment of funding from the Euro bailout mechanism. It’s looking like a morality play, in which creditors feel morally justified in punishing debtors.

Obama’s Electoral Fate May Rest in the Hands of Angela Merkel and European Central Bank

By: Tuesday September 13, 2011 12:32 pm

At this point it could be Angela Merkel and the European Central Bank that determine Obama’s electoral fate. For people in the White House, that shouldn’t be a reassuring thought.

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