Euro Default Archive

EU stance shifts on Greece default

Mosler bonds issued to both address current funding requirements and buy back discounted Greek govt debt would further enhance the credit worthiness of those bonds by further and substantially reducing Greek govt interest expense. Interesting how the word now coming out on the French plan, which initially was greeted with a near ...Read More

Greece on the slippery slope

First, I think there isn’t enough political or popular support to leave the euro and go back to the drachma. As previously discussed, it’s not obvious to the population or the political leadership that there is anything wrong with the euro itself. Instead, it probably seems obvious the problem is the result ...Read More

CNBC article quoted me today

I got a nice mention in a CNBC article today: Why Portugal Downgrade Didn’t Slam Stocks By Antonia Oprita July 13 (CNBC) — Investors do not see Portugal’s rating downgrade by Moody’s as an event that will shake the markets, but it confirms the fact that the outlook for some economies in ...Read More

US Plays Down European Crisis but China Worried

Yes, China is worried- they own the national govt paper a part of their currency reserves US Plays Down European Crisis but China Worried The United States suggested Europe’s debt crisis would have minimal impact on global growth, but China took a more pessimistic view, warning it would impact demand for its ...Read More

Germany Seeks ‘Orderly’ Insolvency Option for Euro Members

Germany Seeks ‘Orderly’ Insolvency Option for Euro Members (Bloomberg) Germany is proposing that the European Union create the option of an “orderly state insolvency” for countries using the euro, according to a Finance Ministry document. That would set incentives for governments to follow “solid” fiscal policies and for “responsible” behavior by investors, ...Read More