Euro plan drives into ditch

November 8, 2011

James Saft is a Reuters columnist. The opinions expressed are his own.

The early returns on the euro rescue are as straightforward as the plan was vague: it probably isn’t going to work.Two numbers tell the tale: the 177 basis points over German debt the supposedly AAA-rated euro rescue fund was forced to pay to borrow on Monday; and 6.67 percent, the 14-year record amount Italy had to pony up to borrow for 10 years.

Europe up a creek with no central bank

October 7, 2011

James Saft is a Reuters columnist. The opinions expressed are his own

HUNTSVILLE, Ala. – Europe is demonstrating that a sovereign nation without a true central bank is just an uninsured bank, liable to be tipped over by the markets.

Good riddance to dollar hegemony

May 19, 2011

James Saft is a Reuters columnist. The opinions expressed are his own.

HUNTSVILLE, Ala. — While the U.S. will fight it kicking and screaming, the dollar’s upcoming fall from its central global role will be a blessing all round.

Triumph of gold, the anti-investment

April 21, 2011

In investing, extreme behavior is becoming more mainstream every day.

How else can we interpret the extraordinary moves by the University of Texas’ endowment fund to not only buy nearly $1 billion of gold, equal to about 5 percent of its assets, but to insist on taking physical delivery of the precious metal.

ECB set for an error for the ages

March 29, 2011

In a field of endeavor with a long and glorious history of folly, the European Central Bank is preparing to commit an error for the ages: hike interest rates into the face of a crisis of existence for the euro zone.

Much depends on, gulp, German consumer

January 13, 2011

If the euro is going to survive without a Depression, German consumers are going to have to behave in ways that are, well, distinctly un-German.

EU must choose its lies wisely

December 16, 2010

You can lie to taxpayers or you can lie to creditors, European authorities are learning, but doing both at the same time is very hard.

Pension savers get the boot

November 30, 2010

From Dublin to Paris to Budapest to inside those brown UPS trucks delivering holiday packages, it has been a tough few weeks for savers and retirees.