Wall Street Journal (March 27)
“Nothing is ever simple with a euro-bailout, and the Cyprus fiasco is proving that again. On Thursday the tiny island disaster will become the first euro-zone country to impose capital controls since the single currency was introduced. This will spare Cyprus from immediate economic collapse, but the curbs are a worrying precedent.”
Institutional Investor (March Issue)
“The European Central Bank’s recent moves have helped lighten the mood for investors in the euro zone.” It is true the dark cloud is rising, yet “Europe’s economic situation is still precarious, and any number of potential shocks could widen spreads and dampen returns. Moreover, policymakers have yet to address the region’s long-term growth prospects.”
Tags: Dark cloud, ECB, Euro zone, Growth, Policymakers, Returns, Shocks, Spreads
New York Times (September 7)
“In the long euro crisis, there is almost always a sobering morning-after whenever European leaders appear to have made a major breakthrough. And so it went again Friday.” There is again “further uncertainty about the survival of the euro zone.”
“In the long euro crisis, there is almost always a sobering morning-after whenever European leaders appear to have made a major breakthrough. And so it went again Friday.” There is again “further uncertainty about the survival of the euro zone.”
Institutional Investor (June 18)
“The relief rally that followed Sunday’s rather limited victory for euro zone unity in the Greek general election has proved unusually faint-hearted and short-lived, with the euro down sharply against the dollar despite initially climbing to a one-month high.” As if to emphasize that Greece is but one problem confronting Europe, yields on ten-year Spanish bonds rose “to a euro-era record above 7 percent.”
The Economist (November 23)
“What safe haven?” As worries spread, the entire Euro zone looks increasingly tainted. “There is an awful sense of a slow motion disaster in the markets at the moment, with every day bringing some herald of bad news.” The latest bad news involved Germany. Once considered a safe haven, Germany was only able to auction €4 billion of a planned €6 billion bund sale.
“What safe haven?” As worries spread, the entire Euro zone looks increasingly tainted. “There is an awful sense of a slow motion disaster in the markets at the moment, with every day bringing some herald of bad news.” The latest bad news involved Germany. Once considered a safe haven, Germany was only able to auction €4 billion of a planned €6 billion bund sale.
Tags: Disaster, Euro zone, Germany, Markets, Safe haven
New York Times (December 5)
Alistair Darling writes that European leaders need to “address the root causes” behind the ongoing European crisis. “It is not enough for the euro zone nations to bail out each economy as it falls into a crisis—they must address the root causes of the continent’s problems.” The Former British Chancellor of the Exchequer (2007–2010) and current member of British Parliament identifies the root cause as the limited “political and economic union that underpins” the common currency. As a first step, Darling recommends that the European Central Bank “make a firm commitment to buying government bonds from at-risk countries.” Darling provides other suggestions and urges European leaders to act quickly to address what has become “the single largest threat to the fragile global recovery.”
Alistair Darling writes that European leaders need to “address the root causes” behind the ongoing European crisis. “It is not enough for the euro zone nations to bail out each economy as it falls into a crisis—they must address the root causes of the continent’s problems.” The Former British Chancellor of the Exchequer (2007–2010) and current member of British Parliament identifies the root cause as the limited “political and economic union that underpins” the common currency. As a first step, Darling recommends that the European Central Bank “make a firm commitment to buying government bonds from at-risk countries.” Darling provides other suggestions and urges European leaders to act quickly to address what has become “the single largest threat to the fragile global recovery.”
Tags: Alistair Darling, Currency crisis, euro, Euro zone
