Tag Archives: EU


Big Week For Economic Data In This Week’s Stock Market Yesterday, I put out a note on the huge week ahead we have as far as economic data goes. The 2-day FOMC meeting that concludes Wednesday afternoon at 2pm., and 2nd Qtr. U.S. GDP out Wednesday morning (something less than 2% is expected). Thursday we […]

The Economic & Political Decline Of France

SPIEGEL INTERNATIONAL 06/05/2013 Bonjour Tristesse The Economic and Political Decline of France By Mathieu von Rohr REUTERS France is in the grip of a crisis. As both its economy and European influence weaken, scandal has hobbled its political elite. The country needs drastic overhaul, but President Hollande does nothing but waver and hesitate. Judging by […]

IMF Admits Mistakes On Greece Bailout

THE WALL STREET JOURNAL June 5, 2013 IMF Admits Mistakes on Greece Bailout By MATINA STEVIS BRUSSELS—The International Monetary Fund has admitted to major missteps over the past three years in its handling of the bailout of Greece, the first spark in a debt crisis that spread across Europe. IMF Says Greece Needs Faster Debt […]

Bank Documents Portray Cyprus As Russia’s Favorite Haven

Insight: Bank documents portray Cyprus as Russia’s favorite haven May 16, 2013 By Stephen Grey, Michele Kambas and Douglas Busvine NICOSIA (Reuters) – When the Cyprus bank run began earlier this year, Russians set much of the pace. Documents seen by Reuters show that as the Mediterranean island headed towards financial meltdown in March, most […]

Fascinating Interview With Author Of “The Rotten Heart Of Europe”

Fascinating CNBC Interview With Bernard Connolly, Author Of “The Rotten Heart Of Europe” Rick Santelli of CNBC had a fascinating and thought provoking interview this morning with Bernard Connolly today. Mr. Connolly is an Oxford educated British economist who is known for his pessimistic outlook for the Euro and the European Monetary Union. Having acknowledged […]

Reinhart & Rogoff Publish Errata (List Of Errors) To 2010 Paper On Public Debt & Growth

Reinhart & Rogoff’s Paper was considered instrumental in Europe/EU pursuing their Austerity “strategy” that has played a big part in Europe’s economic malaise. FINANCIAL TIMES 8 May 2013 10:14pm Reinhart and Rogoff publish errata By Robin Harding in Washington Harvard economists Carmen Reinhart and Kenneth Rogoff have published an errata to their 2010 paper on […]

U.S. Failure To Act On Syria could Prompt Israel To Act Alone On Iran

ECB/Fed Give The Stock Market Rally New Life: Laissez Les Bon Temps Rouler Laissez Les Bon Temps Rouler — often associated with the city of New Orleans is Cajun French for: Let The Good Times Roll. That’s exactly what Big Ben & Super Mario did with their respective language and action last week. Last Thursdy, […]

Spain Has The Eurozone’s Largest Budget Deficit

April 22 (Bloomberg) — Spain’s budget deficit was the largest in the European Union last year, underlining the challenge faced by Prime Minister Mariano Rajoy as he prepares a new plan to foster an economic recovery. Eurostat, the EU’s statistics agency in Luxembourg, today reported that Spain’s 2012 deficit widened to 10.6 percent of gross […]

Eurozone Stuck In Reverse; David Stockman’s New Book

Eurozone Stuck In Reverse; U.S. Equities Likely Benefiting Economic numbers out of Europe this morning were dreadful. Spain cut its 2013 GDP forecast in half to -1% from previous forecast of -0.5% while Spain’s manufacturing shrank at its fastest rate since the fall of 2012. The economic downturn is expected to be deeper and last […]

Markets Are Flashing Some Caution Signals

THE WALL STREET JOURNAL WEEKEND INVESTOR March 29, 2013, 3:36 p.m. ET Markets Are Flashing Some Caution Signals By MARK HULBERT Even as the Standard & Poor’s 500-stock index and the Dow industrials this week were rising to new record highs, the Dow Jones Transportation Average wasn’t. That is worrisome. The transportation sector historically has […]