Stories The Greek crisis : the Danaides’ barrel ?
Back on the Greek saga or the largest bankruptcy in the 21st century without credit event trigger (to date). The succession of bailout plans shows that we do not simply resolve the insolvency of a country by emergency (...)
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Reading Exit the Euro ? A dangerous idea
The Eurozone, undergoing a test of fire is rocking Europe both financially and economically. The Economist Evariste Lefeuvre proposes to a large audience a dispassionate analysis of the single currency crisis to be viewed in a positive and completely neutral (...)
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Note What is penalizing the industrialized countries?
The dynamics of Western countries are inadequate because, two years after leaving the recession behind, their economies still seem unable to implement a sturdy, autonomous trajectory of growth, explains Philippe Waechter, chief economist at Natixis (...)
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Innovation The ECB announces 3 years refinancing measures !
The ECB has adopted a historic longer term refinancing measure to support bank lending and money market activity. It also decided to lower the threshold rating for certain securities as collateral ...
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Note The EMF has been created, long live the EMF!
Philip Hall and Adrian Paturle give an update on the operation of ESM: European leaders have largely been inspired by the IMF...
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News Gold as collateral for a participation in the Greek support plan
Will Finland jeopardize the Greek plan? The country requires collateral in exchange for its participation in the support plan. The German labour minister, Ursula Von Der Leyen, has agreed to those terms…
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Opinion The Euro will survive In fine !
We do not believe or at least most of the implosion scenarios of the euro zone regardless of the terms. -Not because we would be trying to find one or several sustainable solutions to the crisis of sovereign debt, but because such a process would cost too much to everybody (...)
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Opinion The Euro will survive, but not the current Euro zone !
If the existence of the euro is not challenged, it is the case of the euro zone in its current configuration. In the same way that cohabitation between countries with maintaining parity exchange had become impossible in the EMS, cohabitation has become impossible within (...)
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Opinion The never ending story
The fall-out from the Lehman default in 2008 should remind everybody that a negative feedback mechanism into other parts of the financial system and the real economy can create a negative-sum game for all parties (...)
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Opinion The Financial Crisis 2008 - 2011 : repetitions
We have exhausted our recourse to borrowing. Other ways must be found if we want to avoid general bankruptcy
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Note The frantic flight to liquidity and solvency
Some markets have been exhibiting dysfunctions for nearly 4 years. The flight to liquidity and compliance with solvency requirements of banks and states with financial issues, have been - and still is - only ensured by non-conventional financing provisions and emergency (...)
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Note The July – August 2011 market crash. Technical analysis and long term issues!
According to Jacques Ninet, head of research at UFG-LFP, it is obvious that the monetary European Union (an imperfect Trojan horse towards federalism) only gets half the job done when it comes to forging economic (...)
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Opinion Ireland is not second Greece
According to irish economist Cathal Brugha, professor of University College of Dublin (UCD) School of Business, Ireland does not face a similar crisis like Greece
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Opinion The monetary policy crapshoot
One of the key factors driving the relentless move up in equity markets has been the massive surge in liquidity supplied by central banks. One of the biggest risks in the second quarter is whether the liquidity tailwind turns into a headwind for (...)
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Opinion Reviewing the bank stress tests – July 2011
As was seen during the stress tests carried out in July 2010, the latest ones published by the European Banking Authority on the 15th of July 2011 do not include a proper measure of market systemic risk. This hinders their (...)
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News
Greece: a possible lengthening of debt repayment -
November 2010
