EFSF

We were "supposed" to get some kind of plan today out of Europe that would stabilize the financial markets, and have an actual concrete plan for saving the European Union from financial disaster. So much for that. Germany and France apparently still can not come to terms on a deal, and this mess...

That answer depends on where you stand. The markets have been very headline-driven lately. It seems as though whenever a figurehead at home or abroad speaks about bailouts, recapitalizations, etc., markets seem to swing wildly. This is not a surprise as nobody knows where to put their money...

When the plan to save Dexia came out a couple of weeks ago, some saw it as a precursor for the plan to save Europe as a whole. Not so fast. The European Union is going to have a summit held this weekend to talk about how to solve the fiscal problems of European banks, leveraging up the €440...

Slovakia put the future of the euro in jeopardy yesterday when the tiny, poor European country voted against enhanced powers for the European Union that are needed in order to prevent a financial meltdown. Slovakia's ruling party failed to get enough votes to give the European Financial Stability...

European Central Bank President Jean-Claude Trichet warned the European Parliament in Brussels on Tuesday that the financial crisis facing the eurozone is systemic and that Europe's leaders must take decisive action in order to prevent it from escalating and spreading. Trichet will soon be stepping...

Okay, so the equity markets on spiking on news from over the weekend that Dexia SA was going to be "saved," and that German Chancellor Angela Merkel and French President Nicolas Sarkozy have agreed upon a "plan" to save Europe. Well that's all good and well, except there is no real plan, and the...

So gold did not go to $2,000 an ounce by the end of September as was discussed last month, but that does not mean it will not get there, eventually. Gold gave back almost all of the gain it had in August (12%) in September, as the short term mentality of "return of capital, not return on capital...

George Soros penned an article this morning that he thinks we are headed towards another Great Depression. You know what, he's right. Europe is on the verge of a collapse, and unless something gets done relatively soon, (perhaps as soon as the next few weeks), Europe is likely to experience their...

The government of German Chancellor Angela Merkel won a victory on Thursday when the German parliament passed a vote expanding the powers of the institution charged with saving troubled eurozone members like Greece, Ireland and Italy from default. The German Parliament overwhelmingly approved a...

All eyes are on Finland as the “euro-skeptic” country votes on granting expanded powers to the EFSF bailout fund. S&P 500 futures point to renewed risk aversion. Talking Points All Eyes on Finland as Parliament Votes on EFSF Expanded Powers S&P 500 Futures Sharply Lower Overnight,...

German Finance Minister Schauble says increasing EFSF is a stupid idea.   Some AAA state ratings would be at risk. French PM Fillon suggested there will be steps to amplify eruo-area defenses after the German vote. Eurogroup's Juncker said the EU is not working hard enough to fight the crisis. ...

Yesterday on CNBC, Steve Liesman reported that there are plans being discussed high up in the Eurozone about potentially leveraging the existing funds (some €440 billion) to shore up bank capital, in a plan very similar to the TARP program that was enacted in the United States back in 2008....

According to the Wall Street Journal, Greece's creditors are expected to release another tranche of money to the debt-ridden country, after the country announced additional taxes to cover a €2 billion shortfall in revenues. You know what? It does not matter. Greece is going to fail soon anyway...

We got news out of Germany this morning that the German constitutional court approved the Euro Financial Stability Fund, and the first Greek bailout. While this was expected, the court did make sure to note that the ruling was tight, which could be a sign for next time that things will not go as...

Greece is still burning, and now there is speculation that we could see Greece leave the Eurozone. There were two headlines this morning that touched on Greece leaving, and what would happen. German Chancellor Angela Merkel was apprised of Greece potentially leaving the Eurozone. Essentially, it...