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The Importance of Eurobonds
The way the Eurozone crisis has gone is that a peripheral country will announce a growing budget deficit and debt. The markets, concerned about the risk of default and the lack of economic growth given...
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Germany Rules Out Eurobonds
A European summit being held tonight in Brussels offers another opportunity for new French President Francois Hollande to offer a different manner of thinking on the euro crisis, away from austerity...
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France, Germany at Odds Over Eurozone Crisis
European leaders met in Brussels yesterday, and even going in it was clear that the countervailing forces, exemplified most by Germany and France, would not come to any agreements. And that’s just how...
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Just What Are Eurobonds?
Let me take you “backstage” at FDL for a moment. After this post, Scarecrow and I had a discussion about the structure of eurobonds (I know, scintillating stuff). Scarecrow thought that sovereigns in...
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Germany Plots Their Own Grand Bargain on Fiscal and Financial Integration
Out of Europe overnight we get one of the first signs that Angela Merkel might be willing to blink in her game of chicken with the peripheral sovereign nations. Germany has indicated that they would be...
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Dogpile Against Germany in New Stage of Euro Crisis
France's Francois Hollande (photo: idf-fotos/flickr) The hope of the election of Francois Hollande, aside from him holding to and expanding his views of solutions to the European crisis that don’t...
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European Leaders Propose Small Stimulus Package
I mentioned earlier that the “Big 4″ leaders – of Germany, France, Italy and Spain – were meeting today in advance of a big EU summit next week. That meeting has adjourned, and the leaders announced...
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EU Fiscal Union Proposal Looks Right Terrible
The EU has come up with a plan, to be discussed at this week’s summit, to dramatically consolidate fiscal policymaking power in a Eurozone leadership figure, without authorizing the kind of fiscal...
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EU Summit Yields Surprisingly Tangible Results
The 2-day EU summit may have produced some actual movement that at least gestures in the direction of better policy. After tough all-night bargaining, European leaders appeared to salvage what had...
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European Economic Indicators Sharply Down
European and Euro-nation unemployment (click to enlarge) Everyone was supposed to go home happy after an EU summit that beat expectations. However, if you look at the crux of what Europe did at the...
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