ArchivesLeverageUSA
Who has the most debt in the US?
This was the question posed to a group of my colleagues as regards the merits of US fiscal and monetary policy: guess who has the most debt in the US economy? Everyone at the table said ‘the government’. When most pundits talk of ‘government debt’ they are inherently referring to federal government, who is not ... Read more
ArchivesBanksDebt CrisisEuro areaLeverage
Core Euro Area Banks Still Very Exposed to Contagion from a Greek Exit
Today Megan Greene (@economistmeg) wrote a rather insightful post linking this weekend’s German proposal to Greece’s eventual exit from the EMU – the leaked proposal is to (1) make Greek debt service a top priority, and (2) for Greece to rescind national fiscal sovereignty to the European level (links included in her post). At the ... Read more