Category Archives: Europe

Deutsche Bank Wins in Stare-Down With Department of Justice Over Mortgage-Backed Securities Liability; Credit Suisse Also Settles While Barclays Holds Out

Deutsche came off well in a mortgage settlement with the DoJ, while Barclay’s decision to fight doesn’t look so smart.

Italy Announces Sketchy Plan to Bail Out Monte dei Paschi

The Monte dei Paschi domino is finally about to fall. But what does that mean in practice?

Italy Banking Crisis Is Also a Huge Crime Scene

While Italy’s banking crisis results from business loans gone dud in a shrinking economy, some of the banks were also up to no good.

The Fundamental Flaw in Muddied Brexit Thinking

Brexit negotiators seem clueless about how to get out of their own way. Here’s why.

CNN Host’s Attempt to Explain the U.S. Economy Was So Bad I Started Yelling at the TV

Offshoring is about the rush to cheap labor, not about automation and new technology.

British Press in a Tizzy that the EU Will Be Mean to the City of London in Brexit

The whinging from entitled Brits over the fact that the EU is playing Brexit hardball is getting annoying.

So Who Gets to Pay for Italy’s Banking Crisis?

The pretense that even Monte dei Paschi can be bailed out privately is being abandoned. So how will Italy’s sick banks be salvaged?

Greece and Creditors in Showdown Again

Greece tried a surprise move to slip the creditors’ leash. Sadly, it’s not likely to succeed.

Socio-Economic Determinants of the Italian Referendum Vote

More proof that the Italian rejection of Renzi’s constitutional reform referendum was not a simple “populist uprising”.

Italy Gets a New Prime Minister, But Not Yet a New Government, Let Alone a New Banking System

Italy just may be able to save Monte dei Paschi with “precautionary recapitalization,” but what next?

GT Group’s Protean Ian Taylor in the UK: Reuters’ Special Report on 43 Bedford Street, and More

An ignominious decade of UK company registration, illustrated by UK companies formed by Ian Taylor, an old friend from New Zealand

Europe’s Crisis Was Caused More By Reckless Lending Than By Reckless Spending

Remedies have failed to produced growth and lower indebtedness because they’re focused on protecting toxic behavior by banks in Europe’s core

The Italian Referendum: The Vote, the Narrative, the EU, the Banks

The Italian referendum may have been more about Italy than anything else. Which says nothing about knock-on effects

Wolf Richter: Italians Vote “No,” Renzi to Resign, Banking Crisis Now Looking for Taxpayers

Will the failure of Renzi’s constitutional referendum and resulting political uncertainty finally force Italy’s banking crisis to a head?

Trump’s Win is a Warning: Europe Urgently Needs a New Deal

Europe is ignoring the lessons of New Deal era much to its peril.