Global News Journal

Europe can’t put out the blaze

November 8, 2011

If the world thought that Europe’s finance ministers were running in to put out the blaze spreading through Athens and Rome this week, it might come as a surprise to learn they still don’t agree on the size of the fire or how to deal with it.

from Jeremy Gaunt:

Democracy and Chaos are both Greek

November 1, 2011

It seems as if almost everyone was surprised by Prime Minister George Papandreou's decision to hold a referendum on the euro zone's bailout package for his country. At the very least, it can probably be said that he is weary of being hammered from all sides --  his own party, the opposition, the people on the street, Germany, the tabloid press, you name it.

Whatever happened to Europe’s debt crisis?

August 6, 2010

If people stop commenting on the financial crisis, does it still exist?

A month ago, Europe was in the throes of fretting about Greece’s debt problems and whether they were going to spill over to Portugal and Spain, bringing down the euro and a decade of monetary union with it. At the same time there was intense anxiety about impending results from stress tests on nearly 100 European banks.

EU squabbles feed market frenzy

May 25, 2010
Jose Manuel Barroso

Jose Manuel Barroso

  The European Union can rarely have been more in need of a
show of unity than now, as it tries to convince financial
markets it can handle the euro zone’s debt crisis.

Germany’s euro-zone bind

May 19, 2010

Whichever way you look at it, Germany is in a bit of a quandry.

For the past 11 years, since the launch of the euro single currency, Europe’s biggest economy has enjoyed steady current account surpluses as it has exported its manufactured goods around the world, while keeping labour costs down and productivity steady at home.

Playing with inflated numbers

May 12, 2010

Most people would agree that the European Union and the euro single currency are part of a grand political and economic vision. But at times they are also a bit of a numbers game.

Markets call euro zone’s bluff on Greek aid

April 9, 2010

The surge in the spread of Greek bond yields over German ones since European leaders issued a promise of emergency loans to Greece last month indicates financial markets do not believe the pledge of euro zone support is anything more than a bluff.

from MacroScope:

Frustrated Greeks

March 22, 2010

The Greek debt crisis appears to be entering a new phase, in which the country is no longer just waiting to get needed help but getting concerned that others -- including euro zone powerhouse Germany -- may actually be making it hard for them to recover.

What flesh will be put on the bones of an EMF?

March 9, 2010

In the space of a few weeks, the idea of creating a European Monetary Fund to rescue financially troubled EU member states has gone from being a high-level brainwave from a pair of economists to a major policy initiative backed by powerbroker Germany. In EU terms, that’s Formula One fast.

from MacroScope:

Falling out of the euro zone?

January 9, 2009

The periphery economies of the euro zone are suddenly in the spotlight.  Credit rating agency Standard & Poor's has cut its outlook on Ireland's sovereign debt to negative. It worries that fiscal measures to recapitalise banks and boost the economy might not improve competitiveness, diversity and growth -- all making it harder to manage debt.