Category Archives: PIIGS

“…A Breath Away From the Drachma and Disaster”

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Posted in Black Swan Watch, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , | 1 Comment

Athens still able to borrow despite political uncertainty

Here’s an analyst saying Greek living standards would plunge by 80 percent if they leave the Euro.   This must assume most Greeks have their savings in Greek banks or local assets, which raises the issue of capital flight as the … Continue reading

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Statfor: The Rise of the European Political Fringe

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Picture of the Day: Bad Moon Rising?

Was last night’s incredible shot of the Super Moon rising over the Parthenon in Athens a bad omen of things to come?  Some see a bad moon rising given the results of today’s elections in Greece and France.  Buckle up! … Continue reading

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Bonjour Two Tier Euro?

We’ve always held the end game in Europe will be the stronger northern countries eventually pulling out of the Euro.   The path to the end game we do not know. Sunday’s election in France, may, or may not, be the … Continue reading

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Euro Crisis: Lorenzo Bini Smaghi

Lorenzo Bini Smagi,  former Member of the Executive Board of the European Central Bank, nails it, You call it austerity, i would call it putting your house in order. You can’t grow especially if you have a deficit which is … Continue reading

Posted in Black Swan Watch, Budget Deficit, Eurozone Sovereign Spreads, Fiscal Policy, PIIGS, Sovereign Debt | Tagged , , , , , | 2 Comments

Spanish Yields Move Higher After Auction

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Spanish 10-year Closes Above 6 percent

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Chart of the Day: Italy Sliding

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Posted in Black Swan Watch, Chart of the Day, Charts, Economics, Euro, PIIGS | Tagged , | 3 Comments

Depression in the European Periphery

Nice chart and analysis from the New York Fed’s blog, The chart also shows that the current economic situation is much weaker in several euro-area periphery countries. The recession in Greece has yet to end, and real GDP is now … Continue reading

Posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , , | 1 Comment