Edward Harrison: Credit Writedowns

In-depth analysis on Credit Writedowns Pro. By Michael Pettis originally written on 31 Jul 2015 I plan to post a new entry very soon but before doing so I wanted to say a few things about the stock markets, which continue to be insane (but not unexpectedly so) and then repost a blog entry that is nearly five years old. By the time I published my latest (July 17) blog entry Beijing had managed to stop the panic with the use of what I called “brute force”, by which I meant that there was...

Note; Recording contains some sound drops due to unresolved internet problems. Blake (@PipCzar) interviews Marc Chandler. Marc Chandler has been covering the global capital markets in one fashion or another for more than 25 years, working at economic consulting firms and global investment banks. Chandler attended North Central College for undergraduate work, where he majored in political science and the humanities. He holds master's degrees from Northern Illinois University and University...

In-depth analysis on Credit Writedowns Pro. By Frances Coppola The banks are re-opening, though just for transactions, so people can pay their bills and their taxes, pay in cheques, that kind of thing. The cash withdrawal limit has been changed to a weekly limit of 420 EUR per card per person, enabling households to manage their cash flow better. But the capital controls remain: money cannot leave the country without the agreement of the Finance Ministry. And the banks remain short of...

In-depth analysis on Credit Writedowns Pro. By Fabio Ghironi As originally written at Vox. Success of the German-inspired solution for the latest Greek crisis is far from assured. If it fails, the Eurozone may be changed forever. This column argues that the failure would lead to an outcome that has been favoured for decades by Germany’s Finance Minister, Wolfgang Schäuble. Perhaps the package the Eurozone agreed is just a backdoor way of getting to the ‘variable geometry’ and monetary...

In-depth analysis on Credit Writedowns Pro. By Charles Wyplosz This article originally appeared on Vox on 14 Jul 2015 The new bailout deal for Greece was not easy. This column argues that it was also a failure. It will not be enough to recapitalise banks, it asks for structural reform that exceeds Greek capacities, and it raises the Greek debt-to-GDP ratio to unsustainable levels. In a few months or quarters, the programme will fail and the Grexit question will flare up again. The Summit...

In-depth analysis on Credit Writedowns Pro. The Absolute Return Letter, July 2015 “In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” Mark Zuckerberg Greece on the brink A Greek, an Irishman and a Portuguese walk into a bar and order a drink. Who picks up the tab? A German . . . Months (years!) of upheaval in Greece have taught me one important lesson. Don’t take anything for granted in politics. The referendum scheduled for...

In-depth analysis on Credit Writedowns Pro. By Charles Wyplosz originally posted at Vox on 29 Jun 2015 This weekend’s dramatic events saw the ECB capping emergency assistance to Greece. This column argues that the ECB’s decision is the last of a long string of ECB mistakes in this crisis. Beyond triggering Greece’s Eurozone exit – thus revoking the euro’s irrevocability – it has shattered Eurozone governance and brought the politicisation of the ECB to new heights. Bound to follow are...

In-depth analysis on Credit Writedowns Pro. By Marc Chandler Through the venomous comments and erosion of trust, the broad framework of what couple prove to be a workable compromise over Greece’s financial crisis may be emerging.   This is not to suggest that the eurozone finance ministers meeting will reach any important decision. Indeed, the Greek Prime Minister has already reduced his finance minister’s role in the negotiations, and it appears Merkel has done something vaguely...

In-depth analysis on Credit Writedowns Pro. You are here: Political Economy » Yanis Varoufakis: Greece, Germany and the Eurozone – Keynote at the Hans-Böckler-Stiftung, Berlin, 8 June 2015 This post is re-posted from Yanis Varoufakis’ blog with his permission. CLICK HERE FOR THE VIDEO Thank you for inviting me. Thank you for being here. Thank you for the warm welcome. Above all thank you for the opportunity to build bridges, to pave common ground, to bring harmony in the face of blatant...

In-depth analysis on Credit Writedowns Pro. You are here: Markets » Are bond investors crying wolf? The Absolute Return Letter, June 2015 By Niels Jensen To me, consensus seems to be the process of abandoning all beliefs, principles, values and policies. So it is something in which no one believes and to which no one objects.” Margaret Thatcher Investment heavyweights challenge the consensus On a regular basis I challenge the consensus. It is part of my nature, I suppose, but it comes at...