Archive for April, 2012
Since last November, the European Central Bank, under its new president, Mario Draghi, has reduced its policy rates and undertaken two injections of more than €1 trillion of liquidity into the eurozone banking system. This led to a temporary reduction in the financial strains confronting the debt endangered countries on the eurozone’s periphery (Greece, Spain, […]
In case you missed it, from Bloomberg, March 30, 2012: Goldman Sachs Asset Management Chairman Jim O’Neill and Roubini Global Economics Chairman Nouriel Roubini discuss the European debt crisis, oil prices and the outlook for the U.S. economy.
From the FT: The European Central Bank has averted disaster, sparking a powerful relief rally – but nothing fundamental has been resolved. Greece may need another debt restructuring; Portugal and Ireland may need restructuring too. Spain and Italy may yet come under the gun. Banking crises are hardly ever resolved without removing toxic assets or […]