-
Europe’s leaders aren’t giving the currency what it needs: reform, fiscal discipline and international support.
Euromoney January 2012
-
Unless crucial links in the chain of contagion are broken and sufficient resources are provided to cover all sovereign liabilities, the eurozone is doomed.
Euromoney December 2011
-
The contagion of a euro debt crisis will not be restricted to Europe’s weaker states.
Euromoney November 2011
-
GDP growth must be sufficient to outweigh possible deleterious effects of sovereign budget cuts and measures to increase revenues. It’s an impossible ask for Japan and an extremely tough one for the eurozone.
Euromoney October 2011
-
In both the US and the eurozone there is a failure to recognize that the crisis is about solvency not liquidity.
Euromoney September 2011
-
A lengthy, post-stimulus grind of deleveraging is the most likely model for the world economy in the immediate future. This heralds some years of balance-sheet restructuring.
Euromoney August 2011
-
There are doubts that the peripheral countries have the will to cut and tax their way to stability. That leaves growth as the way to balance the books. Where will it come from?
Euromoney July 2011
-
Portugal’s debt crisis is as severe as Greece’s but can be resolved, painfully. The big upcoming sovereign debt risk is not from the eurozone but from the US and Japan.
Euromoney June 2011
-
Continuing political instability in North Africa and the Middle East, together with oil-supply constraints, will increase energy risks and therefore prices.
Euromoney May 2011
-
Higher global inflation and lower growth – stagflation – is on the way. Deflation is much further down the road.
Euromoney April 2011
-
Conditions for expanding the EU’s EFSF are set to be agreed by the end of the month. Even if only some of the Franco-German proposals are implemented, the euro will be greatly strengthened.
Euromoney March 2011
-
Germany’s fragmenting political scene tends towards stasis on big decisions, with key voting groups settling for conservatism. It bodes ill for the country’s role in solving EU problems.
Euromoney February 2011
-
If market confidence in the eurozone is to be restored, not just Greece and Ireland but also Portugal and Spain need the attention of the EU’s Financial Stability Facility.
Euromoney January 2011
-
The Irish government has been forced to take drastic steps that will cause short-term suffering. But its approach is one that other countries might later regret not having adopted.
Euromoney December 2010
-
The EU’s plans to tighten measures to prevent eurozone instability and discipline transgressors are admirable in theory. But implementation will be a tough task and is not in any case achievable until 2013.
Euromoney November 2010
-
Renewed quantitative easing is not a sound answer to the threat of double-dip recession or deflation. A credit bubble cannot be cured by pumping in more credit.
Euromoney October 2010
-
Market satisfaction with renewed US quantitative easing moves is as misguided as the Fed strategy itself. QE2’s perversions herald great pain farther down the road.
Euromoney September 2010
