Archive - Jun 12, 2012 - Blog entry

The Euro Takes the Road Well Traveled: Paths emerge. The EU has options. Yet they continually choose the well-beaten road of fiscal suicide.

News & headlines from the day

The Spanish Lesson

Spain’s Bailout is one big lie. I know, I know... Spain is “saved” thanks to a €100 billion bailout. But no one is asking just where this money will come from?

The upcoming bailout in Cyprus has warts, and spies.

The First BRIC to be Downgraded to Junk?

Jose Manuel Barroso, President of the European Commission, thinks Europe needs a unified banking system.

But how can financing be a solution for a Zone with a fatal fundamental flaw? Banking cannot save the euro-Zone. This proposal is only the distraction du jour.

Europe continues be unable and unwilling to look at the core problem in the Zone which has morphed into huge competitiveness differences that are creating havoc.

The easiest fix for this is a break up. For the Zone to survive this will require a lot of cooperation and frankly it does not seem close to doing it.

...and after all of those fancy acronoyms (ECB, EFSF, EU, ESM, ASS, BS, etc.), Italy is essentially just one big Greece. No, I'm not oversimplifying, just look at the bank bailout bailing out the insolvent country circular arguments!

All you need to know.

A land grab shrouded in a banking takeover, wrapped in a financial crisis "rescue." As always, insiders get first dibs.  (And, yes, there is an MF Global connection.)

Giddens ought to approach the bankruptcy judge and suggest that they both apply to Judge Rakoff for the appointment of a receiver in the MF Global bankruptcy. 

As Many Have Predicted for Years