European Finance & Economy
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Fiscal discipline in the monetary union | vox

Fiscal discipline in the monetary union | vox | European Finance & Economy | Scoop.it

For the euro to survive, the recession must be halted without piling on more debt. This column argues that the unpalatable conclusion is that public debts must be written down. The massive moral hazard problem this will cause must be dealt with by making sure that public debts will never again be allowed to grow to unsustainable levels. To this end, decentralised US-style fiscal discipline is needed.

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Worthwhile Canadian Initiative: Mark Carney to the Bank of England

You might think I have a lot to say about this. (A top UK newspaper just emailed asking me to write something.) I don't. I have very little to say. And what I do have to say is fairly obvious....
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Greece defaults on public loans | | MacroBusiness

Greece defaults on public loans | | MacroBusiness | European Finance & Economy | Scoop.it

Find below the full Eurogroup statement on the new Greek deal, which includes lowering interest rates and extending maturities on existing loans to European governments. That is, another default.

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Greece Is The Word….And A Done Deal

Greece Is The Word….And A Done Deal | European Finance & Economy | Scoop.it
After the Eurozone’s failure to conclude a Greek deal last week, we posted So the hangup is not over whether there will be a deal, but what type and how much debt relief Greece will be grante...
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Calculated Risk: Greek Debt Deal Reached

From Reuters: Euro zone, IMF reach deal on long-term Greek debt

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Mish's Global Economic Trend Analysis: Five Star Movement (Eurosceptic) Surges into Second Place in Italian Polls

Mish's Global Economic Trend Analysis: Five Star Movement (Eurosceptic) Surges into Second Place in Italian Polls | European Finance & Economy | Scoop.it
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Scandinavia provides a least bad option for investors

Scandinavia provides a least bad option for investors | European Finance & Economy | Scoop.it
Bloomberg reported today that bond and currency investors remain keen on Scandinavia, despite contractions in the economies of Denmark and Finland, and stalled growth in Sweden.
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Sir Ron Garrick fiddled while HBOS burned | Ian Fraser

Sir Ron Garrick fiddled while HBOS burned | Ian Fraser | European Finance & Economy | Scoop.it
November 26th, 2012 It is not often that I am gob-smacked by the pronouncements of former directors of failed British banks, having become increasingly...
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Mish's Global Economic Trend Analysis: Constitutional Crisis in Spain; Pro-Referendum Parties Win 87 of 135 Seats

Mish's Global Economic Trend Analysis: Constitutional Crisis in Spain; Pro-Referendum Parties Win 87 of 135 Seats | European Finance & Economy | Scoop.it

Spain takes a giant step towards a full-blown constitutional crisis as Catalans overwhelmingly elect candidates promising a break-up vote.

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True Economics: 25/11/2012: Irish Current Account and Government Debt

True Economics: 25/11/2012: Irish Current Account and Government Debt | European Finance & Economy | Scoop.it

In the previous post I highlighted the problem presented by the EU Budget changes in the near future to the sustainability of Irish debt dynamics. I referenced expert opinions on the role of current account surpluses in determining these dynamics. Here is...

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European data visualisations & infographics » Infographics illuminate EU budget

European data visualisations & infographics »  Infographics illuminate EU budget | European Finance & Economy | Scoop.it
European data visualisations & infographics...
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There Was A Crucial Vote In Spain Today — And Spanish And English Media Saw It Very Differently

There Was A Crucial Vote In Spain Today — And Spanish And English Media Saw It Very Differently | European Finance & Economy | Scoop.it
Did the separatists win or not?...
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GREECE BREAKING: New poll puts Left in the lead, far Right twice the size of PASOK

GREECE BREAKING: New poll puts Left in the lead, far Right twice the size of PASOK | European Finance & Economy | Scoop.it
The social engineering skills of the EU were on full display this evening as the latest Greek opinion poll showed Alexis Tripras’s Syriza Party clearly in the lead, with fully one in eight re...
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Carney—Saviour of the United Kingdom? | Ian Fraser

Carney—Saviour of the United Kingdom? | Ian Fraser | European Finance & Economy | Scoop.it
November 26th, 2012 Finally, the UK chancellor of the exchequer George Osborne has done something right.
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Greece gets a deal, or does it? | | MacroBusiness

Greece gets a deal, or does it? | | MacroBusiness | European Finance & Economy | Scoop.it

As I type, news is beginning to trickle out that after 12 hours of talks European financial leaders and the IMF have come to a deal on Greece to cut debt down to 124% of GDP by 2020 through a package of extra cuts totaling 20% of GDP. This looked like a win for the IMF who were pushing for an up-front cut on Greece’s debt in order to meet its own “sustainable” path.


The trouble is that Reuters and Dow Jones appear to be reporting two different stories about exactly what has occurred with Reuters suggesting...

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Sober Look: Is Citi's "grexit" probability too high?

Sober Look: Is Citi's "grexit" probability too high? | European Finance & Economy | Scoop.it

It is clear that Greece will need some form of debt restructuring and the Eurozone leadership seems to be committed to getting that done (see discussion). They may just need a bit of...

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England Just Grabbed One Of The Six Best Central Bankers In The World

England Just Grabbed One Of The Six Best Central Bankers In The World | European Finance & Economy | Scoop.it
Global Finance best central bankers grades...
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Could Europe’s most troubled countries end up better off than the US and Japan?

Could Europe’s most troubled countries end up better off than the US and Japan? | European Finance & Economy | Scoop.it
As European leaders bicker today over how to help Greece get back on its feet, one report says Greece and other troubled euro-zone countries are at least doing something right.
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PRAGMATIC CAPITALISM – Are European Bond Yields Sustainable?

PRAGMATIC CAPITALISM – Are European Bond Yields Sustainable? | European Finance & Economy | Scoop.it
A recent research note from Societe Generale highlights an important question in Europe:
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Catalonia’s Election

BARCELONA, Spain — Voters in Catalonia delivered victory to separatist parties in a regional election on Sunday, raising the likelihood that Spain’s most powerful economic region will hold an indep...
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PRAGMATIC CAPITALISM – Overview of Liquidity Conditions in Euro Area

PRAGMATIC CAPITALISM – Overview of Liquidity Conditions in Euro Area | European Finance & Economy | Scoop.it

The euro has surpassed the 50% retracement of the slide since Oct 17 when it peaked near $1.3140. The 61.8% retracement comes in near $1.2960 and is seen as the next immediate objective.


The driving force is...

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Falling real wages,more saving and weak borrowing no wonder the UK economy is becalmed | Mindful Money

Falling real wages,more saving and weak borrowing no wonder the UK economy is becalmed | Mindful Money | European Finance & Economy | Scoop.it

There are many ways of looking at the UK economy and the credit crunch has led to a rise in dissatisfaction with measures such as Gross Domestic Product which crucially miss important factors out. This has led to alternative measures being looked at. Some of these are brand new such as...

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Eurozone Nearly Certain To Reach 2013 Intact, Still Chaos Beyond That

Eurozone Nearly Certain To Reach 2013 Intact, Still Chaos Beyond That | European Finance & Economy | Scoop.it

As of today’s Intrade close, the odds of any country currently using the euro to announce intention to drop it before midnight ET December 31 were as follows:


By the end of 2012 – 1.6%.
By the end of 2013 – 34.0%.
By the end of 2014 – 55.0%.

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