Category: Eurozone

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Brexit

I meant to have thoughts about Brexit this morning. And then I started reading things, and realised that trying to think all those thoughts in a single morning was definitely optimistic. In the interim, here is a summary of the arguments from the Economist: My summary for the “Let’s Stay” Crowd: Everything will be more expensive if […]

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Blackmailing Greece

I wasn’t quite ready to write this post – but given the deadlocks and failed meetings and Monday deadlines (aren’t we all just so tired of all these deadlines?) – I thought that I’d better get in there one more time, in case Monday is a complete blowout. First off, Greece is still going. I was […]

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syriza

Syriza, Are You Actively Trying To Get Greece Kicked Out?

Sometimes, it's cooler to be thrown out... Includes a graph, a video clip, and a picture of Varoufakis playing chess.

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Syriza, turning Left, and is there any evidence for it?

Growing up as a baby economist, you learn very quickly that the world is split into two types: The economists that turn right; and The crazies that went away after the Soviet Union fell. Although there are still some left in China. And obviously, the Obama government. Then you enter adolescence, and you either become […]

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Germany: History has more lessons than just inflation #GreekElections

Dear Germany I know that you’re a bit concerned about Alexis Tsipras and his election win in Greece. There’s lots of rhetoric floating around about all the debt that Greece won’t be paying under his stewardship, and that doesn’t sit well with (mostly) yourselves. The other members of the Eurozone as well – but especially […]

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eurozone qe

Mario Draghi gives the Eurozone QE. And look at Denmark, dancing.

In case you missed the full announcement, here’s the link: Mr Draghi gets caught in a broken lift, arrives late, and  announces Quantitative Easing for the Eurozone. Here is the key paragraph: [The Governing Council of the ECB] decided to launch an expanded asset purchase programme, encompassing the existing purchase programmes for asset-backed securities and covered […]

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eurozone

Eurozone Quantitative Easing: The Man on the Street (?) Summary

Today, the world is expecting Mario Draghi to announce a formal round of Quantitative Easing in the Eurozone. And I say “formal” because actually, it’s already been sort of happening through the ECB’s purchases of “peripheral bonds”*. *That is: buying the government debt of the peripheral Eurozone countries, like Cyprus, Greece, Italy, Portugal, etc. These bond […]

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Franckly, Switzerland.

So you go on holiday for 3 weeks, and suddenly, it gets exciting. Until Thursday last week, I was going to engage in a little gloating for my first proper post of 2015. Specifically, I was going to reference my November 2013 post about the Bitcoin bubble, and then show you this chart from yesterday: Which goes to […]

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Negative Interest Rates, and other curiosities

Today’s office politics post is making way for yesterday’s fairly stupendous announcement that the European Central Bank will now be demanding payment from banks for the privilege of banking their money*. *thanks to the FT for the cartoon above. Some opening comments from Mr Draghi: “Now we are in a completely different world: low inflation, […]

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AND WE SHALL UNLIMITEDLY BUY BONDS

UNLIMITED BOND BUYING. Link: they did it. The key points: No change to the benchmark interest rate (so no banks will be paying the ECB for the privilege of lodging funds with them). An unlimited bond repurchase program (of bonds of less than 3 years maturity). The Bundesbank was disgusted with it all, announcing post the […]

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