Post Tagged with: "Germany"
Merkozy’s Dinner for One
Soon, Credit Writedowns Pro is coming out with my predictions/forecast for 2012. I am aiming for a Jan 5th release and will also start a few forum topics then as well. See the piece “Introducing Credit Writedowns Pro”, which is stuck to the front page, for pricing. For now, I want to wish you a Happy New Year. And I thank you for making 2011 an enjoyable and unique experience. Here’s my first non-links post of 2012: Merkozy’s Dinner for One video in German. Thanks, Scott. Enjoy
More Charts of the Day: Italy Works Over 20% More Hours Than Germany and France
The stereotype of lazy southern Europe and the hard working North is just not reflected in the data. We came across this BLS data set over the weekend which was very enlightening and, in part, smashes this widely held generalization
Chart of the day: Euro nations with largest deterioration in fiscal situation
Here are two interesting charts courtesy of the Macro Business Superblog. In outlining how the latest European crisis response policy fails to deal with the underlying issues in Euroland, Macro Business also illuminated the individual debt and deficit trajectory of each euro nation. The charts highlight where the euro area countries have broken the Maastricht stability and growth pact criteria
A Deep Seated Hostility Towards European Construction?
The British decision to veto the proposed new EU treaty is not surprisingly provoking an avalanche of commentary this weekend. Among journalists, at least, there seems to be a consensus that David Cameron committed some kind of major diplomatic blunder.
Possibly this is so, but given the difficulties presented by having to take this agreement forward outside the formal structure of the EU, it is hard to not reach the conclusion that both Angela Merkel and Nicolas Sarkozy have been guilty if not of a similar blunder, then at least a major error of judgment
March to Folly: Underestimating Germany and the ECB
The probability of a German-led fiscal union in Europe is greater than the consensus suspects given its arguments that only an ECB backstop and a European bond will prevent the end of the greater experiment. In addition, the argument is that such actions will not resolve the underlying problem of fiscal sustainability and restoring competitiveness. Recognizing that Germany is pursuing its self-interests which is perfectly understandable under a rational actor and realist framework, this argument warns that the consensus may be exaggerating the likelihood of German and ECB capitulation
Foreign News: France and Germany are still miles apart on agreement
Foreign news for 1 December 2011 focuses on Europe, and in particular Spain
France and Germany want the stability and growth pact hurdle to move to zero percent by 2016
According to Spanish website Cinco Dias, France and Germany want to move from a 3% deficit target to balanced budget by the year 2016. This aim points to a clear intention by the two countries to present a deal on fiscal integration and priorities in the coming days
Last Days Of Pompeii?
What is becoming clearer to almost everyone is that this is now no longer simply a Euro periphery sovereign debt crisis. It has become a full blown crisis of confidence in the Euro itself
Why the IMF thing works for the euro
Editor’s note: the IMF musings would be difficult politically, especially in the US. And any deal for Italy would also have to involve Spain too. However, Perhaps most important, operationally, the ECB lending to the IMF, which then lends to euro member nations, doesn’t count as ‘printing money’ in the Teutonic monetary bible
Caught Out by Reality in Europe
The rumour mill is grinding particularly fast at the moment. Germany and France seem to be working on the famous nuclear solution, Spain plays tough on outsiders, the IMF is rumoured to be preparing an aid package for Italy not to mention Hungary and Austria (just like Belgium) has entered the rating agencies’ cross hair.
So, what to believe
Chart of the Day: The Future of the Euro
A decision tree on what the future of the euro would look like based on different policy responses