by Bill | Feb 16, 2012 | European Economy, Featured
Default, Exit and Devaluation as the Optimal Solution In this piece we look at the mechanics of a currency breakup and how it would happen. This piece is longer than most of our pieces and is a slightly more wonkish piece than usual, but the first two pages provide a...
by Bill | Feb 14, 2012 | European Economy
Government bond yields have declined substantially in Italy on the back of ECB’s 3Y LTRO as well as the commitment of the new government to austerity. Yet, leading indicators have slumped to a post crisis lows and sustainable growth seems far away as ever. Amid...
by Bill | Jan 3, 2012 | European Economy, Monetary Policy
Since early September the ECB’s balance sheet has expanded by 589 billion euros (about 750 billion USD) and the Fed USD swap lines are currently sitting at around 100 billion USD. The second LTRO to be conducted towards the end of February is then very likely to...
