Monetary Contraction Continues in Europe

Simon Ward at Money Moves Markets updates us on the latest monetary aggregates from the eurozone and despite strong global growth in excess liquidity and central bank expansion, money growth remains weak in Europe. Going out of 2011, 6 month nominal M1 growth in the...

A Primer on the Euro Breakup

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...