Wednesday, November 23, 2011, Germany sold 10-year Bunds at its debt auction worth 3.64 billion euro with an average yield of 1.98%, and the bid-to-cover ratio was 1.1 , while the Bundesbank retained the remainder of the 6 billion euro offering. To most people, that’s just Wall Street gobbledegook, but in fact, it is a […]
This year has been all about Greece. The troika, meaning the IMF, ECB, and Commission, have been working on containing the Greek crisis and limiting the contagion to the rest of the Union and ultimately to the global markets. The outcomes of the meeting over the weekend are a new bail-out plan and more ‘haircuts.’ […]
Hollywood and other sects have made millions of dollars speculating on the eventual end of the world in 2012. However, should 2012 be instead seen as the year of the renouveau? Powerful states will go through a change of leadership next year; as is the case with France, the United States, China, Russia, Spain, India, […]
What makes a currency unique? The symbols, monuments, leaders figuring on the paper money, are exemplifications of the collective identity and shared culture. In the case of the Euro, as underlined by Gideon Rachman, the symbols on Euro’s coins and bills are fictitious. Last week, I ask one of my close friends, Dr. Maria Lorca-Susino, […]
The – formerly – most exciting city in the world has voted, bear me out in telling you how it matters for Germany, Europe and the rest of the world. As can easily be perused on the left, the Social-Democrats (SPD) won with a less than astounding 28.3%, followed by the Conservatives (CDU) at 23.4%, […]
The EU Council leaders were meeting this week to determine how best to prevent a default of Greek sovereign debt by common support. The council issued a statement of support with no details as talks continue.
Financial markets continue to be roiled this week over fears that a European debt crisis could derail the global recovery. Investors are spooked by the debt problem in Greece – a possible precursor of what may happen in the U.S. Investors fear Greece may default on its sovereign debt, or require a bailout from already strapped European governments. Those concerns are spreading to other financially troubled governments in Europe.
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