The Good, the Bad, and the Ugly of Portugal’s Bond Auction
Portugal tested the chilly New Year auction waters on January 5th as it auctioned €500 million of six-month bonds. The good news is that…
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Financial Pain in Spain Falls Mainly on… Spain?
For over a decade we have heard reports of China’s increasing world dominance. Yet while Beijing has amassed a large war chest of savings…
Read MoreThe Euro: Where to Next?
From where did Europe’s recession come? To listen to some commentators one would think that it came from nowhere. Indeed, the idea that a…
Read MoreA Crisis of Illiquidity or Insolvency?
As Europe continues bailing out its troubled economies, a subtle point is sidestepped. Providing additional doses of liquidity has brought short-term relief to some…
Read MoreAre German Dilemmas Causing European Problems?
The European monetary union is being held together tenuously. After putting €110bn. on the line to save Greece earlier this year, the tab increased…
Read MoreContagious Defaults?
Mohamed El-Erian, CEO of PIMCO, the world’s largest bond investment management group, recently made a compelling plea for “urgent EU action” to stop a…
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