April 14, 2012

Europe's Short Vacation

Nouriel Roubini, Project Syndicate

AP Photo

Since last November, the European Central Bank, under its new president, Mario Draghi, has reduced its policy rates and undertaken two injections of more than €1 trillion of liquidity into the eurozone banking system. This led to a temporary reduction in the financial strains confronting the debt endangered countries on the eurozone’s periphery (Greece, Spain, Portugal, Italy, and Ireland), sharply lowered the risk of a liquidity run in the eurozone banking system, and cut financing costs for Italy and Spain from their unsustainable levels of last fall.

Read Full Article ››

TAGGED: Europe


April 10, 2012
Europe Has Yet to Make Europeans
Gideon Rachman, Financial Times
Unless they can persuade the 500m or so citizens of the EU to feel more attachment to Europe and less to their nations, they may be unable to take the necessary steps to save the euro. more ››
April 7, 2012
Is Europe's Left Ready to Govern?
Cramme & Diamond, The Guardian
These days, the eyes of left-leaning people across the world are fixed on François Hollande, who has a good chance of defeating France's unpopular president Nicolas Sarkozy . Hollande's campaign commands so much... more ››
April 6, 2012
France a Test for European Left
Ben Fox, New Statesman
For the past two years conservatives and liberals across Europe have tried an economic experiment that has been an abject failure, but have been allowed to do so virtually unchallenged by social democrats who have been confused... more ››
April 1, 2012
The Dangers of Euro Drift and Fudge
Daily Telegraph
The central issue is whether the use of EU institutions to further the process of fiscal union is actually illegal. more ››