CNBC (May 29)
“Political uncertainty in Italy has unhinged world markets, raising the specter of a euro crisis that could ripple across the global economy and even force the Federal Reserve to slow its rate-hiking plans.” While odds appear low that Italy will opt out of the single currency bloc, “internal chaos and a new election could make for a rocky summer for markets and even put a dent in European economic growth.”
Tags: Chaos, Currency, Economy, Election, Euro crisis, Fed, Growth, Italy, Markets, Political uncertainty, Rate hike, Unhinged
The Economist (November 14)
The Great Recession has morphed into the never ending crisis. Over the past decade, we’ve seen fallout from the U.S. housing crisis, the Euro crisis brought on by Greece, and now “a third instalment in the chronicles of debt is now unfolding. This time the setting is emerging markets. Investors have already dumped assets in the developing world, but the full agony of the slowdown still lies ahead.”
Tags: Assets, Crisis, Debt, Emerging markets, Euro crisis, Great Recession, Greece, Housing crisis, Investors, Never ending, Slowdown, U.S.
New York Times (October 30)
The rising populism in Germany and around the globe “is not the anger of a classic loony fringe, but rather mainstream people striking out at elites who they believe have lost touch with reality and common sense. To many here, the refugee crisis, the euro crisis, the Ukraine crisis and the threats seen in an unleashed global capitalism have converged in a fundamental question: Do the mighty still know what they are doing?”
Tags: Anger, Capitalism, Common sense, Elites, Euro crisis, Fringe, Germany, Mainstream, Populism, Reality, Refugees, Ukraine
The Financial Times (October 19)
“The debt drama in Washington stirred a jumble of emotions in Europe. Cold fear that a US default could tip the world back into a slump jostled with schadenfreude as Europeans recalled the stern American lectures on their handling of the euro crisis. The eurozone may be dysfunctional, but so too is the US.”
Tags: Americans, Default, Dysfunctional, Emotions, Euro crisis, Europe, Europeans, eurozone, Schadenfreude, U.S., Washington
The Economist (September 21)
“Nine of the world’s ten most valuable firms are American.” A rising stock market and the euro crisis are partly responsible, but the reasons go deeper. “First, America’s mix of resilience and renewal. Three of its nine biggest firms have their roots in a 16-year period in the late 19th century—Exxon, General Electric and Johnson & Johnson. Their durability reflects their powerful corporate cultures. But the country still does creative destruction, too. IBM and Intel have slid down the rankings to be replaced by Apple and Google. Chevron, an energy firm, has gone from a laggard to a world-beater. Success has been anything but parochial. Six of the nine biggest firms sell more abroad than at home.”
Tags: Apple, Chevron, Corporate culture, Creative destruction, Durability, Euro crisis, Exxon, General electric, Google, IBM, Intel, Johnson & Johnson, Rankings, Stock market, Success, U.S., Value
Investment Week (January 8)
Is the Euro crisis over? The answer depends on who’s speaking. In Lisbon, José Manuel Barroso, the president of the European Commission, declared the crisis was over. But “Barroso’s comments were in stark contrast to those given by German chancellor Angela Merkel, who said in her New Year’s address that the euro crisis, though improving, was ‘far from over.’”
New York Times (December 14)
By agreeing to empower a single banking supervisor, European leaders took “a step forward in the euro crisis. While solid, this step will only bring stability “if it is quickly followed by other measures, like deposit insurance, a system to recapitalize or shut down weak banks, and, eventually, the establishment of a fiscal and political union.”
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.”
Wall Street Journal (November 24)Wall Street Journal (November 24, 2010)
Greece, Ireland, Portugal…who knows which country is next. The EU’s stabilization fund for euro-zone members was established with the hope that the €750 billion life preserver would reassure markets and never need to be used. Now, Ireland alone will cost up to €100 billion. Unless the EU helps “its member countries return to growth,” the fund may get used up very quickly.
Greece, Ireland, Portugal…who knows which country is next. The EU’s stabilization fund for euro-zone members was established with the hope that the €750 billion life preserver would reassure markets and never need to be used. Now, Ireland alone will cost up to €100 billion. Unless the EU helps “its member countries return to growth,” the fund may get used up very quickly.
Tags: Euro crisis, Growth, Ireland, Stabilization fund
