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Category Archives: Euro
France’s Youth Unemployment Problem
For the first time since the late 1990s, there are more than three million jobless people in France, with nearly a quarter of under 25s currently unemployed. President Francois Hollande has promised to wage a war on unemployment, and to … Continue reading
Spain’s Rajoy Delays Bailout Request
Conditionality is political poison in Spain on the receiving end and in Nor Euro without it. Therein lies Europe’s conundrum. (click here if video is not observable)
Stratfor: Banking Union and Potential EU Division
(click here if video is not observable)
Posted in ECB, Euro, Germany
Tagged European Politics, Eurozone Banking Union, STRATFOR
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Stratfor: Eurozone Outlook
(click here if video is not observable)
OECD’s Gurria on the ECB’s OMT
Great France24 interview with Angel Gurria, Secretary General of the Organisation for Economic Co-operation (OECD). Have a look it’s worth your time and offers good insight into EU policymaker thinking. Gurria is probably the world’s leading expert on sovereign debt issues. … Continue reading
Posted in Euro, Germany, Monetary Policy
Tagged Angel Gurria, Brady Plan, Euro, European Debt Crisis, OECD
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Draghi Speaks, Markets Go Berserk
The potential disappointments were there in Draghi’s OMT policy announcement. The markets didn’t care, however, as the perceived tail risk of sovereign default was taken off the table as was a Euro banking collapse circumvented by the LTROs. Central bankers … Continue reading
Posted in Banking, ECB, Economics, Euro, Eurozone Sovereign Spreads, Monetary Policy
Tagged ECB, Mario Draghi, OMT
1 Comment
Europain: Young and Unemployed
The following chart from the Washington Post of Europe’s unemployed youth really captures the human suffering of the European debt and banking crisis. It also illustrates why labor reform needs to be a key component of the structural adjustment in … Continue reading
Posted in Employment, Euro, PIIGS, Spain
Tagged Draghi, ECB, European Youth Unemployment, Greece
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Stronger Eurozone Countries Prepare Plan B
(click here if video is not observable)
Posted in Euro, Germany, Italian Yields
Tagged Austria, Euro Breakup, European Sovereign Debt Crisis, Finland
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Enter the Draghi (Plan)
The only thing new in the “Draghi Plan”, as far as we can see, is the potential big bazooka #4 — unsterilized (?) purchases of periphery bonds by the ECB. Still, though, countries will have to submit to conditionality — … Continue reading
Posted in ECB, Euro, Italian Yields, PIIGS, Sovereign Debt, Sovereign Risk, Spain
Tagged Draghi Plan, Germany, Mario Draghi, Simon Johnson, Spain
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Quote of the Day: Nostalgia for the Deutsche Mark
While German political leaders now declare their allegiance to the eurozone, opinion polls in Germany show that public support for the euro is very weak. As the risks accumulate, it is not inconceivable that Germany might conclude that, despite the … Continue reading
Posted in ECB, Euro, Germany, Uncategorized
Tagged ECB, Euro, European Debt Crisis, Martin Feldstein
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Global Macro Monitor 