Category: Greek Debt Crisis

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ECONOMIES ARE NOT HOUSEHOLDS. The bad paradigms must stop.

As Greece approaches what might well be her final hour (in a long string of last-minutes and ultimatums and bluffs), I wanted to write something more about it. And add to the already long-winded catalogue: Germany: History has more lessons that just inflation (because the Germans have lost their minds). Grexit: The Costs and Impossibilities (because […]

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What Yanis Varoufakis’ Dad Said

I’ve spent the last hour or so whirling around the bookmarks on my internet browser, doing a catch-up of the opinion and news pieces that I missed over the long weekend. And this was my favourite: Varoufakis Gets Defended By Dad – Other Finance Ministers Are Just Being Jealous There has apparently been some progress in […]

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grexit

Grexit: The Costs and Impossibilities

Lots of costs. Some impossibilities - but only really in theory.

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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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Why Companies Borrow

Article of the Day Link: GE is refinancing. Despite forecasted cash stockpiles of $100 billion, General Electric is refinancing (ie. reborrowing) $5 billion worth of debt. That is, GE is electing to borrow when it has more than enough money coming in to pay for whatever it needs. Why? Because the current rate they can borrow […]

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The Greek Oil Conspiracy.

Article of the day: Samaras pledges asset sales. And I quote: “Sweeping state asset sales” of rail transport and energy. Cue: the Greek drama. The Opposition Firstly, Syriza (the opposition) says it will jail the current coalition for selling state assets when it takes power. For selling state assets for “peanuts”. The opposition’s opposition is […]

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Austerity VS Growth

So the results have rolled in, and it looks like it’s going to be an awkward one. In France, Socialism has prevailed. Bye bye Sarkozy and his singing wife and the high society drama. Hello François and his civil-partner-that-he-won’t-marry and the anti-austerity rhetoric.  So what’s different? Sarkozy was all about the Merkozy. He advocated austerity, […]

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chess

Greek CDS Exposure: Proving the ISDA and Bloomberg Wrong

According to numerous news reports, the net exposure arising as a result of Friday’s decision to declare the activation of Greek CACs a credit-default event amounts to approximately $3.16 billion (assuming that the bonds achieve no value at the ISDA auction on March 19). Where is the data coming from? On the same day that […]

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leaving the euro

Leaving the Euro: Such a Cost

All of them.

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