Conventional wisdom has it that strengthening dollar hurts emerging markets via a sudden exodus of host money. A new study argues that real economy forces are a bigger driver, specifically lower commodity prices.
Read more...If Greece decides to exit the euro and abrogate contracts, it is not likely to fare well in the tidal wave of lawsuits and arbitration cases that would ensue.
Read more...While it’s gratifying to see former UBS trader Tom Hayes go to jail for large-scale Libor bid rigging, his bosses had to have known what he was up to. So when will we see their indictments?
Read more...Central bank swaps are in some ways quite similar to a standard commercial FX swap, but the differences are important and significant.
Read more...Why it will probably take no less than three years to do the IT implementation related to a Grexit.
Read more...The larger political and economic costs of the crisis in Greece and Europe are only starting to come to light.
Read more...What first appeared as reduced tensions between Madrid and Spain’s north-eastern province was merely the calm before the mother of all storms.
Read more...Why the left is not doing itself, or the Greek people, any favors by minimizing the difficulties in converting to the drachma.
Read more...Goldman Sachs wields more power in the Eurozone than you think. And it’s not hard to guess who benefits.
Read more...Why the coming bank bail-ins in Greece are going to be far more costly in economic terms than most observers imagine.
Read more...This is a very readable and important account of how Europe came to embrace some of the key elements of its current monetary policy and exchange rate straitjacket.
Read more...The odds now favor the tentative deal struck over the weekend to “rescue” Greece, which many have correctly depicted as a brutal economic colonization of Greece by its lenders, coming unraveled.
Read more...Those who consider a Grexit, meaning reintroducing drachma, to be a sine qua non for Greece moving forward have no idea of what that entails.
Read more...The IMF has dropped a big shoe before the Greek government has passed any of the legislation required as part of its pending bailout. But if this development leads to more wrangling, that means an even longer delay before Greek banks get any liquidity, which means continued strangulation of the Greek economy.
Read more...Greek unions and other groups are mobilizing against the punitive deal tentatively agreed with Greece’s creditors. But can they really stand in its way?
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