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Photograph by Yagi Studio/Getty Images

Photograph by Yagi Studio/Getty Images

Lip Service From the ECB

The European Central Bank has gotten itself so gnarled and twisty-tied over the communication of its new “forward guidance” policy that it evidently felt inspired to give lessons in the art of communicating. In a paper titled “Loose Lips Sinking...

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Photograph by SeongJoon Cho/Bloomberg

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 Simon Dawson/Bloomberg

Photograph by Simon Dawson/Bloomberg

ECB’s Emergency Cash Becomes Last Bulwark Against Chaos

The euro area has just come as close as it ever has to learning that what the European Central Bank gives, it can also take away. Before euro-area ministers agreed a last-ditch bailout in the small hours of Monday morning,...

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Greek Prime Minister George Papandreou at EU Summit in Brussels, Feb. 11, 2010

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...

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