The Troika Knows That Confidence Fairies Don’t Want To Know. It Makes Them Uncomfortable
The eurozone troika recently eased market worries a bit by renegotiating part of Ireland’s massive bailout. But the public still wants answers on why the 2010 bailout happened in the first place and those answers could reignite the crisis. It isn’t easy being the ECB. Or the EU. Or the IMF.
Surprise! It’s not the eurozone crisis anymore. Welcome to the EUrozone crisis
Vague plans involving loss of sovereignty isn’t just for the eurozone anymore. That’s not the kind of bold leadership that will calm the markets and diffuse the financial crisis. No, it’s going to make a much bigger crisis to fix this mess.
History Teaches Us that We Learn Nothing from History, Part 2: It’s 1931 all over again
Following last weekend’s announced $125 billion bank bailout in Spain, the ever present question of “what’s next” has been looming larger than usual this past week. So has the past. As we all know, the past is indeed prologue. Especially the parts involving mind numbing stupidity.
Merkel demands hand over of sovereignty before any other options considered
This is one of those posts that has an “‘End Game” feel to it. Angela Merkel is now demanding that eurozone nations agree to a “fiscal union” far more “sovereignty-free” than earlier proposals, and that’s a precondition for further consideration of alternative/additional financial aid options. And on top of all that, the latest bailout fund comes with strings attached. Golden Strings. It’s getting ugly in the EU.
Official opposition to the eurozone austerity fetish becomes a bad joke
Supporters of Berlin’s austerity drive across the eurozone were relieved by Ireland’s approval of the ‘Fiscal Compact’ on Thursday. But this ‘good news’ coincides with a growing backlash by key leaders an officials against the endless calls for austerity without a ‘pro-growth’ component. Except, as usual, not really.
MISCELLANEOUS ARCHIVES
Uncle Sam and Il Duce American Support for Mussolini and the Mythology of the Corporate State Read more »- Spitfire List is licensed under Creative Commons.
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