The two external shocks of the summer were China, which historically has had second half slowdowns due to State lending front loaded to the first
Hate to criticize someone proposing a payroll tax holiday- darn that Lerner’s law! A Big Bang for Greece There is a way out of the
The ECB has ‘written the check’ by buying national govt bonds in the secondary market in sufficient size to allow the national govs to fund
As previously discussed, it is possible their deficits already got high enough and the euro low enough to support very modest growth when market forces
The old german model was tight fiscal to keep domestic demand down, costs down, to help exporters. this made the mark strong so they sold
[Skip to the end] (email exchange) > > On Fri, Dec 19, 2008 at 9:25 AM, Scott wrote: > > ECB says to discontinue US dollar swap
[Skip to the end] ECB cuts to 2.5pc and mulls “printing money” By Ambrose Evans-Pritchard The Maastricht Treaty prohibits the ECB from injecting stimulus by
[Skip to the end] > > The banks using the ECB’s liquidity program deposited a record 160 > billion Euros with the ECB overnight, rather than lend
[Skip to the end] The ECB raised its day tender rate to 2.75% today and got far fewer tenders, as USD market rates had gone
[Skip to the end] (email exchange) > > On Sun, Oct 19, 2008 at 11:06 PM, wrote: > > Sure he can say that now so long