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.
|By: Dean Baker Thursday July 18, 2013 6:20 pm|
|By: Jon Walker 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.
|By: David Dayen 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.
|By: David Dayen 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.
|By: David Dayen 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.
|By: David Dayen 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.
|By: Dean Baker 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.
|By: Scarecrow 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.
|By: David Dayen 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.
|By: Jon Walker 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.