The elephant in the room is actually being talked about. Or the elephant in the china shop, if you want to take the German metaphor invoked today by one jurist at the Constitutional Court in Karlsruhe, where the country’s top...
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Photograph by John Lund/Corbis
ECB’s Bond Plan Undergoes Elephant Test
Photograph by Tomohiro Ohsumi/Bloomberg
Draghi Tells German Skeptics Bond Plan Is Averter of Catastrophe
If you want to send a clear message to the German public, the place to do it is apparently Shanghai. As in Shanghai, China. A week before Bundesbank President Jens Weidmann gives his views on Mario Draghi’s euro-saving OMT program...
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Photograph by Ralph Orlowski/Bloomberg
Draghi Deposit Rate U-Turn Gets Negative Review
Yesterday, European Central Bank President Mario Draghi sent the euro falling and eyebrows rising when he suggested he was ready and willing to begin charging banks to park cash in a deposit facility in Frankfurt. A negative deposit rate, as...
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Photograph by SeongJoon Cho/Bloomberg
Is Cyprus Euro-Exit Talk More Than Talk?
Bailed-out and bankingly challenged Cyprus is a “unique case,” the entire European policy establishment tells us. One under-reported way in which Cyprus is unique is that chatter about eventually leaving the euro isn’t limited to the fringes. It’s part of...
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Photograph by Alessia Pierdomenico/Bloomberg
Italy’s Vote Was Bersani’s to Lose, and He Almost Pulled It Off
The Italian elections were his to lose, and Democratic Party leader Pier Luigi Bersani did a really good job of almost doing just that. Bersani, a former communist who backed Prime Minister Mario Monti’s technical government, squandered a 15-point poll...
Read more »Today in Euro Crisis History: Annals of Soothsaying
February 19, 2009 Roubini Says a Sovereign May ‘Crack’ Amid Crisis Nouriel Roubini, the New York University professor who predicted the global credit crisis, said a “sovereign may crack” as officials try to bail out their financial systems. Europe’s debt...
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Photograph by Jock Fistick/Bloomberg
Greek Prime Minister George Papandreou at EU Summit in Brussels, Feb. 11, 2010
Today in Euro Crisis History: Annals of Market Intelligence
February 12, 2010 BlackRock Says Greece Is No Lehman, Buys Its Bonds BlackRock Inc., the world’s biggest asset manager, increased its Greek bond holdings, betting the European Union won’t allow the nation to default as Prime Minister George Papandreou cuts...
Read more »Today in Euro Crisis History: Glass Half-Full, Half-Empty
February 4, 2010 Pimco’s Gross Says Greece, U.K Aren’t Default Risks Pacific Investment Management Co. Co-Chief Investment Officer William Gross told CNBC he doesn’t see Greece or the United Kingdom as being at risk for default. Europe’s debt crisis only...
Read more »Today in Euro Crisis History: As the Door Was Closing
January 25, 2010 Greece Sells 8 Billion Euros in Notes After Offering Premium Greece sold 8 billion euros ($11.3 billion) of five-year notes at a premium to ensure the county’s first bond issue since being downgraded was a success. Europe’s...
Read more »Today in Euro Crisis History: The Comedy Store
January 8, 2009 New Greek Economy Minister Vows Tighter Rein on Public Spending Europe’s debt crisis only seems like it has gone on forever. This series of blog posts looks at headlines from this date in previous years that highlight...
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