Red-ink roundup: Here, there and everywhere…
Navigating the Fiscal Challenges Ahead
Fiscal risks have risen, especially in advanced economies, for three reasons: underlying fiscal trends have further deteriorated…financial markets have increased their focus on fiscal weaknesses; and progress in defining fiscal exit strategies has been slow.
Deutsche Bank boss doubts Greece will repay loans
The head of Germany’s biggest bank has cast doubt on whether debt-wracked Greece will be able to repay billions of euros (dollars) in loans, prompting Berlin to ride to Athens’ defence on Friday.
The second debt storm: Who will bail out the countries that bailed out the world’s corporations?
The debt mountain that brought down some of the world’s biggest banks and dragged the international financial system to the brink of disaster has simply shifted to governments. Now it’s threatening countries around the globe — and, if left unchecked, could rip the very fabric of Europe’s economic system and wreck economic recoveries in the U.S., China and Latin America.
US Problems Similar to Greek, Says Bank of England CEO
Today the governor of the Bank of England Mervyn King raised an alarm that the United States is facing the same problems that Greece does.
The Eurozone Bailout—Are We Still Standing?
As we are about move into the fourth day of the week where EU policy makers together with the IMF and the ECB launched an unprecendented series of aid tools to combat the mounting risk of a collapse in Greece and elsewhere in the European periphery I am finally ready to move in with some comments. First of all, there has been no shortage of comments, opinions and market calls on the back of the bailout package and while risky assets have indeed rallied, it is if the underlying reality of the situation looms ever more prescient underneath the surface than what one would have expected from such a collosal dose of stimulating policy.
Fiscal crisis, contagion, and the future of euro
The Eurozone has been swept up in turmoil that has ranged from stock and bond markets to exchange rates, government spending and tax rates. Marco Pagano, Professor at the University of Naples Federico II and CEPR Research Fellow, explains events, how they hang together, and what needs to be done. This challenge facing Europe could be a historical turning point.
Greece and the Euro: Recession With No Exit
Pity the poor Greeks and beware of getting what you wish for.
The Eurozone lender of last resort?
OK. Let’s simplify this whole Eurozone mess.
The Greek Myth of Profligacy: The Fiscal Crisis in Greece Isn’t About Spending
It’s not the spending. The Greek fiscal situation is a mess, a big dangerous mess. But they didn’t spend their way into that mess and they won’t be able to cut their way out of it.