Category: Eurozone

The unexpected hanging: Part 2, Too many banks here anyway

24 July, 2015 (10:00) | Austria, Banking, Consumer protection, Currency risk, Eurozone, Global news, Homeownership, Lending, Mortgages, Risk, Swiss franc | No comments

[Continued from yesterday’s Part 1.] By: David A. Smith Yesterday’s Part 1 told half the story of an Austrian homeowner and acquaintance of columnist/ pundit David Frum. as described six months ago in The Atlantic (January 29, 2015), whose astonishment at being assessed a €12,000 mandatory loan prepayment demand, because though paid in Euros and […]

The unexpected hanging: Part 1, Before it was pushed

23 July, 2015 (10:00) | Austria, Banking, Consumer protection, Currency risk, Eurozone, Global news, Homeownership, Lending, Mortgages, Risk, Swiss franc | No comments

By: David A. Smith The man was sentenced on Saturday. “The hanging will take place at noon,” said the judge to the prisoner, “on one of the seven days of next week. But you will not know which day it is until you are so informed on the morning of the day of the hanging.” […]

Creditor of deadbeats = deadbeat debtor: Part 2, Your creditors can’t handle the truth

6 March, 2015 (10:02) | Economics, Eurozone, Finance, Global news, Government, Greece, Grexit, Recapitalization, Sovereign bankruptcy, Speculation, Taxation, Theory |

[Continued from yesterday’s Part 1.] By: David A. Smith Yesterday’s Part 1 reporting on the continuing psychodrama that is Greek insolvency established that Greece’s inability to pay its sovereign debt stems, at least in large part, from its inability to collect taxes Greek laws say its citizens owe. Nor does the Eurozone’s glib formulation – […]

Creditor of deadbeats = deadbeat debtor: Part 1, Bad debt and bad paper

5 March, 2015 (10:00) | Economics, Eurozone, Finance, Global news, Government, Greece, Grexit, Recapitalization, Sovereign bankruptcy, Speculation, Taxation, Theory |

By: David A. Smith No sooner had I written People value a government they pay taxes for than confirmation of the thesis was forthcoming, in the form of facts, new to me (which is definitely my oversight), that make Greece’s prospects in the Eurozone even worse than I had previously thought. We’re readying the tax-evasion […]

Month in Review, December 2014: Part 3, The right to be wrong

9 February, 2015 (10:00) | Affordability, Bankruptcy, Casinos, Cemetery, Cities, Detroit, Development, Eminent domain, Environmental, Eurozone, Land use, Mitchell-Lama, New York City, Privatization, Switzerland, US News, Vermont, Zoning |

By: David A. Smith [Continued from Friday’s Part 2 and the preceding Part 1.] Though a cemetery, as profiled in yesterday’s summary of December, is real estate used by and for the dead, and before there is a cemetery, there can also be a property that is used by no one, because those who would have […]