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During this season of (increasing) discontent, you may see any European you know constantly checking his or her mobile device for two crucial pieces of information: the “spread” and the “score.” It is maybe the most visible sign of these troubled times that both … Continue reading
Amid the latest (irrelevant) round of downgrades by Moodys (see my previous post) and the excitement (or lack thereof) for the Republican primary season, a little piece of news seems to have gone unnoticed in the U.S. media, yet it … Continue reading
Rating agencies have been playing a significant role in the endless loop that the EU sovereign debt crisis has become. It is recent news that S&P downgraded several EU member countries, by one to two notches, setting off a storm … Continue reading
Here we are at it again. Heads of state of EU countries meet. Drafts of big, ambitious programs of reform are circulated and voted upon. Significant proclamations are given to the media. Markets are tamed for a few days. Markets … Continue reading
These days Italy and several other European countries are embarking upon very ambitious programs of reforming both their domestic economies as well as the way they interact with each other within the Euro area. Many of these reforms are desirable … Continue reading