Conflicting Reports On Who Knew About NSA Spying Program

By: Tuesday October 29, 2013 8:20 am

On the heels of protests in Washington over an out of control surveillance state came a batch of new stories on NSA spying abroad. Spain and now Italy have been added to the list of friendly nations and governments the NSA spied on. One aspect of the controversy that remains unresolved is whether President Obama [...]

Berlusconi’s Return Roils Italian Markets

By: Monday December 10, 2012 10:08 am

Markets in Italy are freaking out today, mainly because of the pronouncement of one man, Silvio Berlusconi. The former Prime Minister plans to run for office yet another time, and Mario Monti, the current caretaker leader, has resigned, setting up new elections probably in February.

No, Mario Draghi Should Not Be Person of the Year, Because He Failed in His Effort to Break European Sovereignty

By: Monday November 26, 2012 12:30 pm

European finance ministers have yet to make any decisions on the Greek bailouts. In general they have to choose whether or not to continue funding the country’s borrowing and on what terms. Will they forgive another portion of Greek debt (this is unlikely)? Will they allow the country a reprieve from meeting EU budget targets [...]

Obama Administration Works to Delay Greek “October Surprise”

By: Friday September 21, 2012 8:59 am

Rumors are rampant today that Spain will accept a rescue program from the EU, which would pave the way for a bond-buying program from the European Central Bank to commence. This could merely be part of the pressure campaign on the Spanish government to request the bailout and submit to the conditions. Spanish bond yields [...]

German Court Approves European Bailout Fund

By: Wednesday September 12, 2012 6:55 am

A German constitutional court has allowed the new European bailout fund, the European Stability Mechanism (ESM), to go forward, with only one condition that appears surmountable. The European Union breathed a huge sigh of relief Wednesday after a German court ruled Berlin’s approval of taxpayers’ cash to aid its deeply indebted neighbors was not unconstitutional, [...]

Update on Europe: ECB Only Trying to Fix One of Several Crises

By: Tuesday September 11, 2012 7:39 am

Mario Draghi has boosted global stock markets and sent many commentators cheering for his elimination of tail risk from Europe. However, he also subverted the democracies of multiple countries in Europe, according to those wild-eyed liberals at CNBC. With its OMTs the ECB is setting politicial pre-conditions (the often-used buzz word “conditionality”) for executing monetary [...]

ECB Announces Conditional Bond Purchase Scheme

By: Thursday September 6, 2012 7:40 am

European Central Bank President Mario Draghi wrapped up his major press conference this morning, and the news was pretty much what we heard yesterday. Draghi announced the formation of the OMT, or Outright Monetary Transactions. It’s an unlimited sovereign debt purchase scheme for those countries which submit to giving the ECB a vote on their [...]

Mario Draghi’s Cunning Strategy to Subjugate Weak European Nations

By: Wednesday September 5, 2012 8:57 am

The details of the European Central Bank bond purchase plan have been leaked to Bloomberg, and they confirm perhaps the worst fears of how this program would be managed. As I’ve been saying all along, Mario Draghi was faced with a dilemma. He needed to act to save troubled sovereigns in Europe like Spain and [...]

Draghi Hints at Purchases of Sovereign Debt, and Just Saying So Might Be Enough

By: Tuesday September 4, 2012 8:24 am

Yesterday I noted what a consequential week this would be for the European economy, as the European Central Bank prepared to make its decision on how to deal with soaring bond yields in Italy and Spain. ECB President Mario Draghi let some of the cat out of the bag yesterday, hinting that the central bank [...]

ECB Prepares to Reveal Its Decision on Eurozone Rescue

By: Monday September 3, 2012 9:59 am

We have another week where the speeches at a national convention won’t be the most important in the context of the world economy. The European Central Bank meets this week amid high expectations that they will take action to finally arrest the unusually large bond yield price spikes from troubled Eurozone sovereigns like Spain and [...]

ECB Makes Pitch to Germany on Bond-Buying

By: Thursday August 30, 2012 11:13 am

It appears the European Central Bank is ready to pick a fight with Germany over their resistance to saving the Eurozone economy through monetary means. Writing in the German newspaper Die Zeit, ECB president Mario Draghi espoused a viewpoint basically contradictory to the German reserve at using monetary tools to stop cascading bond yields in [...]

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