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
Reads to me like they don’t like the yuan strength vs the euro which means it could weaken vs the dollar if they buy euro
Not my first choice of topic, but what they wanted me to discuss. Currency movements are nearly impossible to accurately forecast due to continuous cross
The Swiss have been buying euro all along to support their exporters (at the expense of the macro economy but that’s another story). No doubt
The euro zone is standing on the deflation pedal hard enough to turn the euro northward when the portfolio adjustments have run their course, which
It doesn’t get any more ominous than this. This would insure an orderly default of the entire currency union. Which is already in progress. Germany
I wrote this in 2001, the euro has been an accident waiting to happen. It’s an unstable equilibrium, as Mike just reminded me I used
Seems they are willing to take the credit risk to support their exporters at the expense of the macro economy, rather than cut taxes to