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Euro Crisis



Photograph by Hannelore Foerster/Bloomberg

Photograph by Hannelore Foerster/Bloomberg

The Bundesbank’s Bond-Purchasing Amnesia

“There haven’t been any changes in our positions on bond purchases,” the Bundesbank growled last week. In other words: the purists in Frankfurt oppose a European Central Bank intervention on behalf of Spain or Italy. The notoriously long-termist German central...

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Photograph by Henrik Sorensen/Getty Images Illustration by Tom Hall/Bloomberg

Photograph by Henrik Sorensen/Getty Images Illustration by Tom Hall/Bloomberg

Public Nail-Spitting Shows Heat Rising in EU Carmakers’ Kitchen

For a glimpse of how much carmakers are feeling the debt-crisis heat, check out the fiery exchange between Fiat and Volkswagen this week. VW, whose declared goal is to overtake Toyota and GM to become world Nr. 1 by 2018,...

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Photograph by Angelos Tzortzinis/AFP/Getty Images

Photograph by Angelos Tzortzinis/AFP/Getty Images

The Men in Black Are Back in Athens to Check the Books

The men in black are back in Athens. Greece is hosting members of the so-called Troika, representatives from the euro zone, the European Central Bank and the International Monetary Fund, who are there to assess how far the country may...

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Photograph by Getty Images

Photograph by Getty Images

Spain Can’t Afford Brinkmanship Over Euro

Spain may turn to one of Greece’s strategies when it tried to push back against German pressure to cut costs. Spanish news website El Confidencial reported that Spain doesn’t rule out leaving the euro, citing “sources very close to Mariano...

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Photograph by Angel Navarrete/Bloomberg

Photograph by Angel Navarrete/Bloomberg

Reading the Fine Print

Briefly yesterday, the buzz was that Spain could use its package of as much as 100 billion euros ($123 billion) to do more than just recapitalize its banks. Perhaps, thanks to legal trickery buried in Spain’s financing accord, Prime Minister...

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