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  • Fed Chairman Yellen goes to Europe and tells ECB to crank up money printing
    Fed Chairman Yellen goes to Europe and tells ECB to crank up money printing
    On Nov. 7, Federal Reserve Chairman Janet Yellen spoke in Paris at the Bank of France and provided strong hints and suggestions to the European Central Bank (ECB) that the best way to deal with their ongoing issues of deflation and recession were...
  • Germany has reached the end of the line for bailing out the rest of Eurozone
    Germany has reached the end of the line for bailing out the rest of Eurozone
    On Aug. 28, German Finance MinisterWolfgang Schaeuble was a guest on Bloomberg TV and spoke out on the growing concerns by members of the European Union that the ECB should begin channeling money and liquidity to broke sovereign countries in light...
  • Excess reserves at the Fed
    Too much money
    Ever notice how empty space tends to get filled? If there is a storage container or shelf somewhere in your house, something tends to find its way there over time. In abundant societies, it seems people just accumulate stuff. I remember a National...
  • UK set to grow
    UK set to grow
    The Organization for economic cooperation and development the OECD, Paris-based think-tank’s latest composite leading indicators, which have a good record for predicting changes in growth, showed that the UK economy continued to expand at a...
  • Draghi speaks on ECB
    Draghi speaks on ECB
    Draghi says that "one good thing about this IMF paper is that the ECB is not being criticized." He defends the Greek bail-out and says you can't judge past decisions with knowledge you have today:"Let's look at the present....
  • Germany's wealth
    Germany's wealth
    The ratio of household debts to income is 37% in Germany, but 114% in Spain, 50% in Italy, 134% in Portugal, 47% in Greece and 157% in Cyprus. Not so rich in the periphery, then.Germany's net debt according to a study by the ECB is lower than...
  • International Monetary Fund
    Greece’s next bailout tranche put on hold at E.U. meeting
    The European Finance Ministers did not approve the release of the next bailout tranche to Greece during their meeting today in Brussels.The decision to put a temporary hold on the 31.5 billion euro bailout tranche did not come as a surprise...
  • ECB Headquarters
    Greece uses short-term auction for bridge financing
    In dire need of immediate cash, Greece will tap into the short-term finance market next Tuesday when it auctions 2.1 billion euro in 4-week treasury bills and an additional 1 billion euro in 13-week bills.The short-term borrowing of cash is seen...
  • Mr. Antonis Samaras
    Greek austerity vote barely survives; coalition dissent prevalent
    Greece’s Parliament barely passed the much needed austerity measures with a vote of 153 to 128 earlier today but the dissent among the three coalition partners was clearly visible during acrimonious debates leading up the vote.The austerity...
  • European Union Summit
    ECB meeting is all about Greece; not interest rates
    When the European Central Bank meets tomorrow the discussion will not center on whether or not to lower interest rates but rather focus on Greece and how to handle the November 16 deadline for the release of the next bailout tranche.It is widely...
  • Mr. Antonis Samaras
    Greece being pushed out of Eurozone; default lurks
    The implementation of direct bank recapitalization by the European Stability Mechanism will force Greece out of the Eurozone by mid 2013.The new ESM mandate, expected to be ratified in December 2012 at the next EU summit, may be focused on a new...
  • Mr. Rajoy, Spanish Prime Minister
    Spain and Italy refuse ECB bailout, both bet on ESM bank rescue
    Spain and Italy confirmed their decision not to accept the offer of the European Central Bank, made in September, during interviews earlier today.Both Mr. Rajoy, Spanish Prime Minister, and Mr. Monti, Italian Prime Minister, insisted that their...
  • Bankers' bonuses to be returned in Spain
    Bankers' bonuses to be returned in Spain
    Spain has ordered its top bank to repay executives at Spain's giant nationalised Bankia are to be ordered to pay back last year's annual bonuses as the bank admits to having run up record-breaking losses of €7bn (£5.6bn) in the...
  • IMF paper can solve debt problem
    IMF paper can solve debt problem
    The IMF has produced an interesting paper that can slash debts, by replacing privately created money with state created money. Banks have the ability to create money when it creates credit, with fractional reserve banking.The IMF study, by Jaromir...
  • IMF calls for growth (Video)
    IMF calls for growth (Video)
    Steen Jakobsen from Saxo Bank says the IMF'sreversal on austerityis the "biggest financial story of the year".With Greece, Ireland, and Portugal the IMF along with the ECB, has been advocating, tax hikes, and lay-offs.Now the head of...