Starbucks veteran Michelle Gass leaving for Kohl's http://t.co/XgGsf8zqt1
12 minutes ago
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Angela’s Ashes: Could a Slowdown in German Growth Save the Euro?
Athens to Madrid: back to you Following the June 17 elections, Greece seems set to be governed by a broad, awkward coalition formed by the center-right New Democracy party, its historical rival, the center-left Pasok, and several small parties. A consequence of this electoral outcome is that Greece is less likely to exit the eurozone [...]
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RGE’s Gina Sanchez CNBC Video: Rally on Greece Elections Will Be Short-Lived
CNBC — Gina Sanchez, Director of Equity and Asset Allocation Strategy, RGE says the rally in markets on Greece’s elections results will be short-lived. She also says U.S. Treasuries could go lower because of what’s happening around the world.
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Greek Elections: Returning to the Unsustainable Status Quo
New Democracy (ND) just barely pulled ahead of the anti-bailout, left-wing Syriza in the election on June 17th. According to the Greek constitution, the party in first place wins 50 bonus seats in parliament. With roughly 85% of the votes counted and Syriza having conceded defeat, it looks like ND will have 130 seats, Syriza [...]
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RGE’s Arnab Das Bloomberg Video on ECB Policy, Spain Outlook
Bloomberg: Arnab Das, managing director of market research and strategy at Roubini Global Economics, talks about fiscal and political integration in Europe, Italy’s public debt levels and European Central Bank monetary policy. He speaks with Maryam Nemazee on Bloomberg Television’s “The Pulse.”
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Spanish Bank Bailout Unlikely to Succeed
It has been abundantly clear that Spain would need a bailout for its sick banking system, and rumours have emerged that this could happen as early as this weekend. I doubt that the details of a plan will be agreed so soon as an independent stress test of the Spanish banking system is still being [...]
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Has Fiscal Policy Been Tried?
Jeffrey Sachs in yesterday’s FT A-List argues that “spending has been sizeable…the structural fiscal expansion was more than 4 per cent of GDP on a sustained basis during 2009-11… Fiscal stimulus, in short, has been tried, but did not succeed in spurring a robust recovery.” But reading further into why this fiscal effort failed, he [...]
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QIA: A Taste for Commodities
In the last month, even as markets have sold off on worsening macro news, many SWF watchers in the press remain agog over the recent flurry of purchases by the Qatar Investment Authority across the commodities space, particularly the energy sector, as well as some other extensive purchases. It seems a good time (if a [...]
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EU-Wide Bank Deposit Scheme: Neither Politically Feasible nor Credible
With the risk of a bank run in the EZ rising, there has been talk amongst EU policymakers of creating a European-wide bank deposit guarantee scheme. Over the past week, members of the European Commission and ECB president Mario Draghi have all spoken out in favour of such a scheme. This would be a form [...]
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Bloomberg Is Prepared for New Drachma
XGD is in the system — but no data, and “Access to this security is restricted by its supplier”.
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Ireland Should Vote Yes on the Fiscal Compact
With fewer than ten days to go until the Irish referendum on the fiscal compact, a huge percent of the population remains undecided about how they are going to vote. According to a recent opinion poll, 37% of respondents will vote in favour of the fiscal compact, 24% against it and 35% are undecided. While [...]
