ECB money injection not a reason for optimism
byAre you feeling optimistic yet? Are you confident that policy-makers have things under control? – If so, you must believe that we can solve…
ECB
My big fat Greek bailout
by Detlev SchlichterGreece was bailed out for the second time in four months. Or did it default? Well, a bit of both, I guess. All bondholders…
FEDging the figures
by Alasdair MacleodBoth the US Federal Reserve and the European Central Bank are now offering limitless quantities of new money – the ECB to support the…
Eurozone government defaults looking certain
by Alasdair MacleodFor some time I have taken the view that rescuing eurozone governments from their financial crises was too big a job for the European…
The end of the EU
by Alasdair MacleodLast Friday, David Cameron came back from Brussels having rejected proposals to draft a new European Union treaty, having failed to get promises of…
Last week in Europe – Some thoughts on the ongoing crisis
by Detlev SchlichterApologies to my readers that no new contributions have appeared on the Schlichter Files for two weeks, and in particular that I did not…
Infinite stupidity
by Detlev Schlichter“The unlimited resources” of the European Central Bank (ECB) is quickly becoming the new magic mantra in political commentary and financial market analysis, now…
Euroland: an Austrian view
by Alasdair MacleodIn the last two weeks the headlines have switched from Greece to Italy. Financial and economic commentators who dismissed Greece as a small cog…
The Chinese and the eurozone
by Alasdair MacleodThe basic market problem is there is too much sovereign borrowing for the money available, which would normally drive interest rates sharply higher. Some…
Bank recapitalization will make euro crisis worse
by Nick OttensEurozone leaders ordered their banks to raise additional capital last week to prepare for a partial Greek default. The continent’s banking industry didn’t yet…