Search Results for: Greek debt crisis
What is the cost if Greece exit Eurozone?
June 15th, 2015
Grexit to Cost the World One Trillion Euros in Losses Greek Finance Minister Yanis Varoufakis has estimated that Grexit would cause the international economy a trillion euros in losses, besides, there will be a considerable political damage as “the ...
Cyprus lifts all capital controls as banks recover
April 6th, 2015
Cyprus is lifting the last remaining capital controls it imposed on its banking system during the financial crisis of 2013. Cyprus was the only crisis-hit eurozone country to restrict capital transfers, as it faced a run on the banks. ...
Europe shares higher; Tullow Oil up 4%
March 20th, 2015
European equities edged higher in the last trading session of the week, as investors reacted to individual stocks news amid hopes of further accommodative policy by global central banks. Tullow Oil gains The pan-European Euro Stoxx 600 index was slightly higher, ...
The ECB’s financial suttee
March 22nd, 2021
The European Commission is failing. Its response to Brexit and the pandemic, where it is now threatening emergency powers in order to secure vaccines is a latest throw of the political dice. Even before this development markets were getting ...
The destruction of the euro
October 26th, 2020
The Eurozone is bust. The deterioration of TARGET2 imbalances have been hardly noticed, but in recent months it has been alarming. Despite official denials over the years that it is a matter of concern, it is increasingly obvious ...
The Eurozone’s financial disintegration
July 31st, 2020
Introduction The Euro Crisis Monitor (above) shows the increasing imbalances in the TARGET2 settlement system between all its members: the ECB (itself with a €145bn deficit) and the national central banks in the Eurozone. Other than minor differences reflecting ...
The pound’s future in a dollar collapse
July 28th, 2020
In recent articles for Goldmoney I have pointed out the dollar’s vulnerability to a final collapse in its purchasing power. This article focuses on the factors that will determine the future for sterling. Sterling is exceptionally vulnerable to ...
Europe Bails Out Its Failed States with “Common” (i.e., German) Bonds
July 22nd, 2020
The “European Project” was designed with something like the current crisis in mind. The adoption of a common currency was just the first, politically easiest, step in a process that would eventually – its architects hoped – culminate ...
The Tragedy Of The Euro
January 11th, 2019
After two decades, the euro’s minders look set to drive the Eurozone into deep trouble. December was the last month of the ECB’s monthly purchases of government debt. A softening global economy will increase government deficits unexpectedly. The ...
Société Générale to pay millions for LIBOR and Euribor manipulation charges
June 5th, 2018
The Commodity Futures Trading Commission (CFTC) issued an Order filing and settling charges against Société Générale S.A. (Société Générale or the Bank) for attempted manipulation of and false reporting in connection with the London Interbank Offered Rate (LIBOR) for ...
