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3 Years After 'The Shame of it All,' Ireland Exits Bailout
Friday, December 13, 2013 - 4:57pm | 647Read More...Three years after seeing its economy in tatters and the nation facing bankruptcy, Ireland has become the first eurozone member to end its IMF/EU bailout. "This isn't the end of the road,” Michael Noonan, the Irish finance minister, told a news conference on Friday. “This is a very significant...
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Constancio Calls For Public Backstop For Banking Union
Friday, July 12, 2013 - 7:20am | 315Read More...The euro traded steadily at $1.30 on Friday morning after US Federal Reserve Chairman Ben Bernanke's comments sent the dollar tumbling. Bernanke indicated that the US central bank was not planning to taper its' bond buying program anytime soon, citing weakness in the labor market as his reason....
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Bloomberg Survey Finds Analysts Bullish on Gold (GLD)
Friday, July 5, 2013 - 10:36am | 525Read More...You wouldn’t know it looking at gold prices down more than 2.5 percent on Friday but a Bloomberg survey found that gold analysts are more bullish on gold than they’ve been in a month. The Bloomberg survey found that 14 analysts expected the price of gold to rise next week while 10 were bearish...
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Cyprus Reaches a Deal With Troika
Monday, March 25, 2013 - 6:27am | 421Read More...Late Sunday, Cyprus reached a deal with the Troika of creditors made up of the EU, the ECB and the IMF. In the deal, small deposits (mainly those of smaller, domestic savers) would be protected and the nation's banking sector would be drastically reformed. The draft proposal calls for Cyprus to...
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Benzinga Market Primer, Thursday, Novermber 15
Thursday, November 15, 2012 - 7:26am | 1119Read More...Futures rise on stimulus hopes. U.S. equity futures rose in early Thursday trading as the Fed signaled that it may be forced to do more easing under its third quantitative easing program to stimulate the economy. Should the U.S. go over the fiscal cliff, the Fed, in its minutes of its latest...
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Greek Leaders Agree to New Spending Cuts, Close to Fulfilling Troika Demands
Friday, July 27, 2012 - 12:39pm | 362Read More...Overnight, Greece's three main coalition leaders agreed on measures to reduce spending by approximately $12 billion over the next two years. These cuts amount to nearly all of the $13.8 billion in cuts which the Troika demanded in order to release the next tranche of bailout money to Greece....
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Microsoft Could Pay Huge Penalty for EU Violation
Tuesday, July 17, 2012 - 10:23am | 309Read More...Microsoft (NASDAQ: MSFT) may not have complied with a 2009 ruling that requires the Windows maker to offer European users more than one Web browsing option. According to Reuters, European Union antitrust regulators are in the process of investigating the matter. Reuters quoted Competition...
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The Merkel Myths that are Devastating Europe
Monday, May 14, 2012 - 12:49pm | 1421Read More...German Chancellor Merkel wishes to stamp out any belief that there is a “magic bullet” to deal with the renewed euro zone crisis. Merkel’s response to the crisis, however, is the fundamental cause of the second-stage of the crisis and it is the product of magical (un)realism – a series of...
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New York Times Reporters need to Read Krugman's Columns
Monday, May 7, 2012 - 4:07am | 3634Read More...To know the Washington Consensus as a regular citizen is to hate the Consensus. The Washington Consensus, as the name implies, was an “inside the beltway” series of neo-liberal policies embraced by the IMF, the World Bank, and the U.S. government. It called for a minimal State and an all-...
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Jim O'Neill: China Produces a New Greece Every 11.5 Weeks
Wednesday, March 21, 2012 - 8:44am | 459Read More...Goldman Sachs' (NYSE: GS) rockstar Jim O'Neill reinforces his ongoing thesis that Greece-focused histeria is tedious at best. While he believes European Monetary System concerns are valid and sovereign debt issues will be there for the foreseeable future, he thinks Greece is small peanuts as long...
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Greece Closer To A Deal With Private Sector Bond Holders
Wednesday, March 7, 2012 - 2:37pm | 517Read More...Greece is edging closer to having enough of the private sector holders of the country's outstanding debt accept a debt restructuring deal would see the face value of their bonds take a major, while reducing the financial burden of the nearly bankrupt Greek government. The agreement is needed in...
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(Re)Occupy Greece
Monday, March 5, 2012 - 1:07am | 3440Read More...While the Occupy Wall Street movement set its sights on occupying a financial center, Germany has accomplished the vastly more impressive feat of occupying an entire nation: Greece. Germany has experience at occupying Greece, having done so during World War II. The art of occupying another...
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Will the ECB's Loans Be Enough to Save Europe?
Friday, March 2, 2012 - 2:13pm | 370Read More...Wednesday, the European Central Bank loaned the European banks 529 billion euros. It is the second long-term refinancing option (LTRO) the ECB has offered in the last few months, following a previous LTRO in December that saw 489 billion euros lent out. LTROs are just one of several possible open...
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Spain Says It Intends to Miss Promised Budget Targets
Friday, March 2, 2012 - 11:11am | 923Read More...Shortly after signing an agreement with 25 other European Union leaders for a new fiscal treaty that would punish euro zone countries that failed to meet budget targets, Spanish Prime Minister Mariano Rajoy dropped the bombshell that Spain was going to run a bigger 2012 deficit than the one it had...
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EU Leaders Sign New Fiscal Treaty
Friday, March 2, 2012 - 9:25am | 871Read More...The leaders of most European Union countries signed a new fiscal treaty aimed at preventing another sovereign debt crisis from happening. The leaders also hope that the treaty, also referred to as the fiscal compact, will reassure the markets that troubled euro zone members like Spain and Italy...
