EconoMonitor

Don't Shoot the Messenger

  • Is The Italian Elephant About To Break Loose Again?

    Market nervousness about Italy has been growing in recent weeks, with the Moody’s credit downgrade of the country being only  one of the reasons. A bailout is clearly in the offing, with the only real questions being how and when. While the situation inside his country appears to be deteriorating, Mario Monti has been doing […]

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  • What’s Up Doc?

    According to Wikipedia, Kabuki is a classical Japanese dance-drama known for the stylization of its plot and for the elaborate make-up worn by the key performers. This definition also seems to fit the drama in an unknown number of acts currently being acted out on the European stage by some of the continent’s leading central […]

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  • Portugal – Please Turn the Lights Off When You Leave!

    The recent decision by the Portuguese constitutional court to unwind public sector salary cuts included by the government in its austerity measures has once more given rise to speculation  the country may not meet it’s 4.5% deficit target for 2012. The court  – which ruled the non-payment of the two traditional Christmas and Summer salary payments  for the years 2012 through 2014 was unconstitutional –  took […]

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  • Whom the Gods Would Destroy

    The times they are a changin’, as the old song goes. Neither in jest nor in total earnest was a truer word ever said in terms of the 2 year old Euro Debt Crisis. The to-ing and fro-ing we have seen over the last few days as commitment to decisions taken at the most recent […]

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  • Neither Grexit, Nor Spexit, It’s Fixit or Fexit

    The aftermath to last weeks EU summit has certainly proved to be a damn sight more perplexing than the actual summit itself. Contrary to earlier experiences, this time round the more the details have been “clarified” the more confused we have become. Just what exactly was approved? Will Spain’s banks really obtain capital directly from the ESM, and […]

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  • And Then There Were Six – Is Slovenia Next?

    Slovenia is in the news. According to press reports (and here) solving the problems which have accumulated in the country’s banking system may well mean the country is next in line for some sort of EU bailout assistance. Speculation was fueled last week when ECB Governing Council member and Bank of Slovenia Governor Marco Kranjec said that the country […]

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  • On the Brink of What?

    This weekend I have been thinking quite a lot about what the world is gonna look like on Monday, and have come to the conclusion that it won’t be that different from the way it was last Friday. The big news surprise of the weekend was in fact Greece related  – since the national football team qualified for the […]

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  • Rescue Me

    I guess we will never know whether or not Mariano Rajoy uttered the two magic words so effectively immortalized in song by Fontella Bass that Saturday afternoon in late May as he cruised down the Chicago River in what Spanish media called a “Love Boat” ride, but one thing certainly is now clear, Angela Merkel […]

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  • Global Manufacturing Growth Shudders Towards a Halt

    This months manufacturing PMI data only confirm what several months of prior surveys (and now the latest US jobs report) have been telling us, namely that growth in the developed economies is getting scarcer and scarcer, and harder and harder to come by. Following a brief brief period of stabilisation, which lasted roughly from November last […]

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  • Reading the Writing on the Japanese Wall

    The recent decision by Fitch Ratings to downgrade the Japanese sovereign by one notch, from AA minus to A plus, has all the outward appearance of being a predictable non-event. As the Reuters article reporting the decision puts it,  Credit downgrades usually do not have a lasting impact on markets in Japanbecause its government bonds are […]

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