Greece

I am going through the BIS Quarterly Review that just came out and it is packed with useful information about the global economy.  With regard to the sovereign debt crisis, I found the following chart a good one for getting a feel for…

Highlights The US dollar is mixed in choppy trading.  The euro has shrugged off a weaker than expected ZEW survey (28.7 vs. 42.0 consensus after finding a bid near $1.2170.   The BOJ unveiled a new JPY3 trillion loan…

News that Moody's cut Greece's credit rating to Ba1 from A3 is encouraging the market to do what it was already doing and that is paring the euro's earlier sharp gains.   This was a four notch downgrade, which reflects the…

The Absolute Return Letter, June 2010 “You cannot turn a pig’s ear into a silk purse, and there is no point in pretending that an economy like that of Greece could somehow become a mini-Germany ”with appropriate resolve and discipline”.…

Mohamed El-Erian, the CEO of PIMCO, the world's largest bond fund, says the new normal for industrial countries is low growth, re-regulation and deleveraging.

In an interview with Dow Jones Newswires, John Lipsky, First Deputy Managing Director of the International Monetary Fund, answers questions about taking action on the euro and intervention in Greece. Also see IMF Official: Euro’s Slide Not…

The fall in the euro is not completely accidental. Indeed, many in the Eurozone see the decline as an opportunity instead of a sign of weakness. Nevertheless, it is not clear to me that the Greeks or the Spaniards will gain from the decline…

The following is a guest post by Polyvios Petropoulos, a former university professor of economics and management in the US. Petropoulos contends that the austerity package drawn up by the IMF is not credible and that everyone knows Greece…

To paraphrase Shakespeare, things are indeed rotten in the State of Denmark (and Germany, France, Italy, Greece, Spain, Portugal, and almost everywhere else in the euro zone). An entire continent appears determined to commit collective…

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