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.

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 [...]

EU Summit Solution Looks Remote

By: Wednesday June 27, 2012 6:56 am

This EU summit scheduled for tomorrow (yes, just add that to the calendar with the Supreme Court ruling and the Holder contempt vote) has all the earmarks of a disaster. First, technocrats released a sovereignty-destroying proposal that would combine all of the worst elements of a fiscal union, not solving the growth imbalance problem while [...]

European Jitters Still Predominate

By: Monday January 9, 2012 1:02 pm

The stock market slumped slid sideways today, despite strong jobs numbers and a growing sense of US economic recovery (which I’m not totally buying, incidentally). The reason is simple – Europe is about to become a basket case, again. Weak bond sales and uncertainty in the banking sector, along with an almost certain recession among [...]

Italian Technocrat Runs Into Pesky “Consent of the Governed” Trouble

By: Friday December 16, 2011 7:35 am

Italy’s new technocratic government won a confidence vote today in the lower house, a prelude to passage of an austerity program coveted by EU leaders. However, those same leaders are dismayed that the austerity package largely consists of tax increases rather than the “labor market reform” they favored. In addition to austerity measures, heavily indebted [...]

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