Category: Eurozone Debt Crisis

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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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The Drag(hi) of Negative Interest Rates

What is a negative interest rate - and does it/should it matter?

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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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THE ECB GOVERNING COUNCIL MEETING: HEAR YE HEAR YE

Link: what’s at stake. This meeting sounds a lot like every meeting that has happened recently (see here for a list of how frequently the ECB governing council meets – about once every two weeks). Each one is hyped as “the one where they come up with a plan to save the euro”. And in the press conference […]

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G-8 says Greece should stay

The article of the day. Link: Uh huh – but what if it’s too L-8. Mr. Obama is supporting Mr. Hollande in his pro-growth policies. And poor Angela M is finding herself the last austerity stalwart/bulwark/any-other-misunderstood-nouns. My question: should Obama really be dishing out the economic advice? Yes – things look to be improving in America […]

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Daily News Roundup 2012: Thursday 17 May

Good morning The headlines: The Democrat Senate rejects five different budget plans. Link: WHAT is going on? It seems that the Republicans used some obscure rule to force the Senate to rule on all their proposed budgets (in a single day?) –  as an attempt to embarrass the Democrats for failing to organise a budget for the […]

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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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Daily News Roundup 2012: Tuesday 8 May

Good morning The headlines: Consumer credit in the US is growing. Consumer credit “surged” in March: its largest monthly movement in a decade. The increase came mostly from new car and student loans (but the indicator released by the Fed doesn’t track home mortgages – so where else is the increase going to come from?). […]

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Daily News Roundup 2012: Monday 7 May

Good morning The headlines: Sarkozy is no longer: enter Hollande and the French Socialists. So the Socialists have won, and Hollande rides into French Presidential power on the back of “No to austerity”, “I’m not Sarkozy” and “No more presidential bling-bling”. Actually – that’s not entirely accurate. The parliamentary elections still need to take place […]

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