Category: Eurozone Debt Crisis
The analysis published under this category are as follows.
Saturday, August 11, 2018
Greek Debt Tragedy is Far From Over / Interest-Rates / Eurozone Debt Crisis
By: Rodney_Johnson
Last week, Greece received $17 billion from its creditors, representing the final installment of the country’s third bailout since 2010.This is the last one.
Really. Stop laughing.
There’s no doubt the Southern Mediterranean country has endured a lot of pain over the last eight years.
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Wednesday, March 28, 2018
Eurozone Faces Many Threats Including Trade Wars and “Eurozone Time-Bomb” In Italy / Interest-Rates / Eurozone Debt Crisis
By: GoldCore
– Eurozone threatened by trade wars, Italy and major political and economic instability
– Trade war holds a clear and present danger to stability and economic prospects
– Italy represents major source of potential disruption for the currency union
– Financial markets fail to reflect the “eurozone time-bomb” in Italy
– Financial volatility concerns in Brussels & warning of ‘sharp correction’ on horizon
– Euro and global currency debasement and bank bail-in risks
Saturday, February 11, 2017
Greece Debt Crisis Outrageous Malevolence / Interest-Rates / Eurozone Debt Crisis
By: Raul_I_Meijer
Earlier this week I was talking in Athens to a guy from Holland, who incidentally with a group of friends runs a great project on Lesbos taking care of some 1000 refugees in one of the camps there. But that’s another topic for another day. I was wondering in our conversation how it is possible that, as we both painfully acknowledged, people in Holland and Germany don’t know what has really happened in the Greek debt crisis. Or, rather, don’t know how it started.
That certainly is a big ugly stain on their media. And it threatens to lead to things even uglier than what we’ve seen so far. People there in Northern Europe really think the Greeks are taking them for a ride, that the hard-working and saving Dutch and Germans pay through the teeth for Greek extravaganza. It’s all one big lie, but one that suits the local politicians just fine.
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Thursday, January 26, 2017
Italy's Bank Rescue Foreshadows Nationalization of More EU Banks / Politics / Eurozone Debt Crisis
By: John_Browne
On December 7, 2016, Italy's Prime Minister Matteo Renzi resigned following defeat in a national referendum, that he had supported, that would have changed the country's parliamentary system. The development, which represents just the latest sign of anti-EU sentiment spreading throughout Europe, was felt acutely by Italy's troubled banking sector. In particular, the Banca Monte dei Paschi di Siena (MdP) has been teetering on the brink of collapse and now may stand as a case study that may be encountered by other EU member nations.
Sunday, December 25, 2016
Greece’s Debt Problem Has Reached a Dangerous Point / Interest-Rates / Eurozone Debt Crisis
By: John_Mauldin
BY ALLISON FEDIRKA : Before the Italian banking crisis and referendum, before Brexit… there was Greece. Greece’s debt crisis was really the first public crack in the European Union’s armor and one that has yet to be repaired.
Readers who want to understand why anti-EU sentiment and nationalism have developed in many of these countries don’t have to look at migration or other controversial topics. Simply look at Greece and how it has fared after adopting the EU’s austerity terms.
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Tuesday, December 20, 2016
Brace Yourself For Italy’s Bankruptcy / Interest-Rates / Eurozone Debt Crisis
By: John_Mauldin
When Charles Gave of Gavekal chooses to express displeasure over an economic trend, an asset class, or what have you, he does not mince words. Right now, Charles is exercised about Italy.
When Italy adopted the euro in 1999, Charles argued at the time that Italy would change from being an economy with a high probability of many currency devaluations to one with the certain probability of eventual bankruptcy. Now, he says, the fateful moment is not far off.
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Tuesday, December 13, 2016
Europe Crisis - Italy’s “No” Vote Is Just the Beginning / Politics / Eurozone Debt Crisis
By: John_Mauldin
BY ANTONIA COLIBASANU AND JACOB SHAPIRO : An important vote recently occurred in Italy. Italians said “No” to a referendum on government reforms. The vote was broadly viewed as a referendum on Prime Minister Matteo Renzi. He has since tendered his resignation.
The result of Italy’s referendum means three things. First, the slow devolution of the European Union rumbles on. Second, Italy has declared itself in open revolt internally and against the EU. This is a challenge not just for the EU, but for Germany in particular. Third, this is the beginning of a major political shift in the third largest economy in the Eurozone.
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Monday, December 12, 2016
Euro Crisis and Contagion Almost Certain In 2017 / Currencies / Eurozone Debt Crisis
By: GoldCore
A euro crisis and contagion is almost certain in 2017, Irish economist and writer David McWilliams has warned:
Read full article... Read full article...“It is almost certain that there will be another euro crisis in 2017. The last time we had a euro crisis, the focus of attention was Greece; today the vortex is Italy.
Friday, December 09, 2016
Euro-zone Crisis - The Soon To Erupt Euro Experiment / Politics / Eurozone Debt Crisis
By: Gordon_T_Long
THE EURO EXPERIMENT
It was always blatantly clear that an EU monetary union would inevitably require a political union to centralize decisions about tax and public spending. Without this occurring it was a misconceived and terrible blunder (that some of us argued it was when it was initially constructed) but it is turning out to be even worse than we originally perceived because of its underpinning Euro currency.
We are now witnessing that the EU experiment has become so damaging and divisive that public opinion will now never tolerate a political union. So not only was the cart put before the horse, but the horse will not now contemplate even following the cart at a distance!
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Sunday, November 27, 2016
Europe Will Devalue Or Dissolve - Welcome To The Currency War / Interest-Rates / Eurozone Debt Crisis
By: John_Rubino
No rest for the wicked. With the shockwaves from Brexit and President Trump still reverberating around the world, the established order is bracing for more bad news. Next up is a December 4 Italian constitutional referendum that might end the reign of centrist prime minister Matteo Renzi and replace him with a bunch of anti-euro iconoclasts from the Brexit/Trump part of the spectrum.
Thursday, September 22, 2016
Germany Has No Power to Solve the European Crisis / Politics / Eurozone Debt Crisis
By: John_Mauldin
BY LILI BAYER : Germany faces a growing number of crises, both at home and abroad. But it has limited power to address them. The country needs stability in Ukraine. It wants to influence Russia. And Germany needs to deal with the influx of refugees from Turkey. This requires an agreement with that country.
Recently, the German leadership met with officials in Europe and abroad to address these crises. On Sept. 15, the foreign ministers of Germany and France toured Ukraine's war-torn east. In August, the German foreign minister went to Moscow to discuss the problems in Ukraine and Syria.
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Friday, September 16, 2016
Italy Is the Mother of All Systemic Threats / Stock-Markets / Eurozone Debt Crisis
By: John_Mauldin
BY GEORGE FRIEDMAN : Italy has been in a crisis for at least eight months, though mainstream media did not recognize it until July. This crisis has nothing to do with Brexit, although opponents of Brexit will claim it does. Even if Britain had voted to stay in the EU, the Italian crisis would still have been gathering speed.
The high level of non-performing loans (NPLs) has been a problem since before Brexit. It is clear that there is nothing in the Italian economy that can reduce them. Only a dramatic improvement in the economy would make it possible to repay these loans. And Europe’s economy cannot improve drastically enough to help. We have been in crisis for quite a while.
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Tuesday, August 09, 2016
Meanwhile in Greece.. / Politics / Eurozone Debt Crisis
By: Raul_I_Meijer
Everyone gets 15 minutes of fame. Greece had its spot in the limelight last year. It is now no longer famous. We have all moved on to bigger dramas, or so we think. The French feel they are the victims because of terrorist attacks, the British because of Brexit, Americans because of Trump.
Warhol’s 15 minutes of fame line is as much about the average human being’s attention span as it is about anything else, like the proliferation of media. The data in the picture at the top of this article are from 2014. They are what moved Greeks to elect Syriza in early 2015. But the Greeks found out within 6 months that this made no difference; the Troika called the shots, not the Greek people, not its government.
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Monday, August 01, 2016
Why Should The IMF Care About Its Credibility? / Politics / Eurozone Debt Crisis
By: Raul_I_Meijer
The IMF’s Independent Evaluation Office (IEO) issued a report a few days ago entitled ‘The IMF and the Crises in Greece, Ireland, and Portugal’. It is so damning for managing director Christine Lagarde and her closest associates, that it’s hard to see, certainly at first blush, how they could all keep their jobs. But don’t be surprised if that is exactly what will happen.
Because organizations like the IMF don’t care much, if at all, about accountability. Their leaders think they are close to untouchable, at least as long as they have the ‘blessing’ of those whose interests they serve. Which in case of the IMF means the world’s major banks and the governments of the richest nations (who also serve the same banks’ interests). And if these don’t like the course set out, a scandal with a chambermaid is easily staged.
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Wednesday, July 27, 2016
On the Italian and Eurozone Doomsday Scenario / Interest-Rates / Eurozone Debt Crisis
By: Steve_H_Hanke
On June 23rd, the voters in the United Kingdom (UK) turned a collective thumbs-down on the European Union (EU). The Brexit advocates – the ones who had had enough of the EU’s mandates and regulations – won the day. But, this is only the first step on a long and winding exit road. To formally begin its withdrawal from the EU, the UK must trigger Article 50 of the Lisbon Treaty, and the new British Prime Minister, Theresa May, won’t do that before the end of 2016. Once triggered, the UK has two years to negotiate its exit from the EU.The Brexit vote was a surprise that temporarily rocked the markets, sent the pound to a 32 year low, and sent the chattering classes chattering. It also poured fuel on a simmering Italian fire – a fire that could result in an Italian, as well as a Eurozone, doomsday scenario.
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Wednesday, June 08, 2016
Pensions In The UK and EU Going Bankrupt – Slow Motion Detonation of Pensions Timebomb - Video / Interest-Rates / Eurozone Debt Crisis
By: GoldCore
Pensions in the UK, EU and internationally will go bankrupt as the long awaited ‘pensions time bomb’ detonates in slow motion.
Max Keiser and Stacy Herbert discuss the end of retirement which many Americans, Britons, Europeans and others will suffer as their pensions are decimated in the coming years due to zero percent interest rates and ultra loose monetary policies pursued for the benefit of banks and corporations.
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Tuesday, May 31, 2016
Here’s How Greece’s Bailout Falls Short / Politics / Eurozone Debt Crisis
By: Rodney_Johnson
If you lent a guy money and he failed to pay you back, would you lend to him a second time? How about a third time?
That’s exactly what’s going on in Europe.
The European Central Bank (ECB), European Commission (EC), and the IMF – the three entities collectively known as the Troika – bailed out Greece in 2010… then again in 2012.
Tuesday, May 10, 2016
Greece Again Surrenders to Troika Bandits / Politics / Eurozone Debt Crisis
By: Stephen_Lendman
On Sunday, long-suffering Greeks suffered another body blow. Parliamentarians voted 153 to 143 for greater austerity than already, exclusively benefitting Western bankers and large investors, social justice entirely ignored.
A three day anti-austerity strike featured protests and sit-ins. Large parts of Greece’s economy were shut down, including transport, schools and other public services to no avail.
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Tuesday, February 16, 2016
Euro Bond Crisis Returns As Germany Pushes Euro Sovereign Debt Bail-in Clause / Stock-Markets / Eurozone Debt Crisis
By: GoldCore
European Banks holding European sovereign debt may have to take haircuts and be part of bail in plans should that same debt default, according to a plan being pursued by German government advisers. In another attempt to shelter German tax payers from the largess and excess of fellow European neighbouring countries’ national banks, the move could trigger a run on billions of euro of sovereign debt of said banks. In an article penned by the Telegraph’s Ambrose-Evans Pritchard, one of the council’s dissenting members describes the plan as the “fastest way to break up the Eurozone”.
Tuesday, December 15, 2015
Is This Just the Beginning of the Euro Debt Crisis? / Interest-Rates / Eurozone Debt Crisis
By: Harry_Dent
I've been shocked over how much QE and stimulus the central banks have signed on for in the last seven years, but they’re finally starting to reach their limit.The U.S. already did in 2014 when the Fed finally tapered. And this week, the markets are betting on a rate hike – never mind the trouble brewing in China, other emerging markets, and now Europe.
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