euro Tag

This is akin to a family of five selling their home, cars, and personal belongings, in order to finance Dad heading off to Vegas in order to play the fucking slot machines. What can go wrong, after all? Bitcoins only go higher. Source: CNBC Didi Taihuttu, his wife, three kids and their cat bet all they have on bitcoin. The Dutch family of five is in the process of selling pretty much everything they own — from their 2,500-square-foot house, to their shoes – and trading it in for theRead More
Did you know that the sixth largest bank in Spain failed in spectacular fashion just a few days ago?  Many are comparing the sudden implosion of Banco Popular to the collapse of Lehman Brothers in 2008, and EU regulators hastily arranged a sale of the failed bank to Santander in order to avoid a full scale financial panic.  Sadly, most Americans have no idea that a new financial crisis is starting to play out over in Europe, because most Americans only care about what is going on in America.  ButRead More
Once again, it’s the German speakers who pinch their pennies. At least that’s the conclusion of a European Central Bank working paper by Benjamin Guin. He looked at Switzerland, a country boasting three major linguistic and cultural groups, where most policies and laws such as interest rates or taxes that affect savings rates are set at a national or cantonal level. Source: ECB Working Paper No. 2069 by Benjamin Guin That allowed Guin, an economist from the University of St. Gallen now working at the Bank of England, to dig into the nitty-gritty to figureRead More
SINGAPORE (May 15): Asian stocks got off to a shaky start on Monday as a ransomware attack that locked up more than 200,000 computers in over 150 countries and a missile test by North Korea on Sunday kept investors on edge. Safe-haven assets including the yen, gold and U.S. Treasuries held their gains from Friday after weaker-than-expected economic data from the U.S. dented risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed. Japan’s Nikkei retreated 0.3 percent on a stronger yen. Australian shares fell 0.2 percent,Read More
But they disagree over how MANY BRITISH TORY Eurosceptics trace their beliefs back to the 1992 Maastricht treaty which agreed to create a single currency. To them, Maastricht represented a Franco-German stitch-up. The French president, François Mitterrand, accepted German unification, and in exchange the German chancellor, Helmut Kohl, agreed to give up the D-mark for the euro. In fact money was crucial from the very start of the European project. In the 1950s Jacques Rueff, a leading French economist, declared that “Europe will be made through a currency, or itRead More
The euro area pressured Greece to resolve outstanding pension and labor-market issues with its bailout creditors, as the country missed yet another deadline for unlocking funds this week. The currency bloc’s finance ministers meeting in Brussels on Monday said that the government of Alexis Tsipras has yet to comply with the terms attached to the emergency loans that have kept the country afloat since 2010. The ministers’ Greek counterpart, Euclid Tsakalotos, will stay in Brussels through the week to continue negotiations with representatives of creditor institutions, in a sign of increasingRead More
The U.K. economy may be paying for Brexit for a long time to come. The strength of the expansion since the vote to leave the European Union hasn’t allayed concern about how the decision will filter through the economy over the coming years. It won’t mean Armageddon, but the broad consensus among economists — whose predictions about the initial fallout were largely too pessimistic — is for a prolonged effect that will ultimately diminish output, jobs and wealth to some degree. For now, the economy continues to boom, with figures on TuesdayRead More
This is really most amusing, the state directed broadcaster in Venezuela is pointing out how terrible the economic conditions in Greece are. Yes, really, the Bolivarian socialists who’ve made the oil rich economy of Venezuela such a stunning success are pointing at the euro caused mess in Greece as an example of how capitalism impoverishes. There is no doubt, of course, that Greece has been hard done by over its debt and the economy ransacked as a result:  Much of the vast sums in aid money has simply been in theRead More
Greek pensioner Dimitra says she never imagined a life reduced to food handouts: some rice, two bags of pasta, a packet of chickpeas, some dates and a tin of milk for the month. By Karolina Tagaris | ATHENS At 73, Dimitra – who herself once helped the hard-up as a Red Cross food server – is among a growing number of Greeks barely getting by. After seven years of bailouts that poured billions of euros into their country, poverty isn’t getting any better; it’s getting worse like nowhere else in the EU. “ItRead More
THE former head of the US federal reserve has warned the euro is on the verge of collapse saying he has “grave concerns” about its future. By SIOBHAN MCFADYEN And revered economist Alan Greenspan says it’s time the European Central Bank (ECB) came clean about the state of the economy as the bank’s chief Mario Draghi scrambles to save the flailing institution. Mr Greenspan, 90, was the chairman of the Federal Reserve of the United States from 1987 to 2006, and predicted the scale of the US subprime mortgage scandal whichRead More