Category: Euro

Just let us have what’s yours

5 August, 2013 (14:23) | Euro, Germany, Global news, Law, Sovereigns, Speculation |

By:David A. Smith   Many are the things people want – and the more people want the same thing, the more they can talk each other into believing that what we want belongs to us, even if it actually belongs to someone else.    Such is the Eurozone today, where every nation except Germany wants […]

Bottomless deflation

28 May, 2013 (16:58) | Euro, Foreclosure, Global news, Homeownership, Markets, Mortgages, Spain, Speculation |

By:David A. Smith   Spain is caught in a deflationary spiral, and as far as I can tell it is only getting worse.   From positive money, 2010   When a delinquent entity whose solvency is in question is not a bank or company but a nation, the techniques that work for addressing a bankor […]

Month in Review: March, 2013

17 May, 2013 (14:29) | Bankruptcy, Banks, Cities, Crime, Cyprus, Detroit, Euro, Land use, Month in review, New York City, Post office, Rating agencies, Slums, Urbanization | 2 comments

By:David A. Smith   [Previous Months in Review available here: Feb 13, Jan 13, Dec 12, Nov 12, Oct 12, Sep 12, Aug 12, Jul 12, Jun 12, May 12]   During March, the Department of Justice sued Standard & Poor’s, an action that was five billion dollars’ worth of overdue, and included legislation with […]

A wholly owned subsidiary of the European Central Bank: Part 5, what it means for global finance

5 April, 2013 (09:32) | Bankruptcy, Banks, Capital markets, Cyprus, Euro, Global news, Law, Recapitalization, Speculation, Workouts |

[Continued from yesterday's Part 4 and the preceding Part 1, Part 2, and Part 3.]   By:David A. Smith   Previous posts in this week-long series have established that Cyprus was treated not as a nation, not even as a subsovereign state, but rather as a failed financial institution that needed to be forcibly recapitalized. We’ve […]

A wholly owned subsidiary of the European Central Bank: Part 4, what it means for the Eurozone

4 April, 2013 (12:50) | Bankruptcy, Banks, Capital markets, Cyprus, Euro, Global news, Law, Recapitalization, Speculation, Workouts |

[Continued from yesterday's Part 3 and the preceding Part 1 and Part 2.]   By:David A. Smith   By now it’s clear that Cyprus has lost its sovereignty, accepted the certainty of a severe depression, and destroyed its economic prospects for a decade.    The official lenders may see the second deal as a good […]