Guide to Writing About Greece For People Who Can’t Bear To Write About Greece

Guide to Writing About Greece For People Who Can’t Bear To Write About Greece

Too much :)

FT Alphaville � The French proposal

FT Alphaville � The French proposal

Brady Bonds for Greece looks like it's gaining momentum. I'm still stunned by the fact that "austerity" is the new black. It was conventional wisdom that getting out of economic crisis was "pump-priming." We had made the mistakes of austerity during the Great Depression. Yet here we are again. The disgrace of the fresh water economists and the smart guys in Europe is that they make the same mistakes again.

DER SPIEGEL 25/2011 - Inhaltsverzeichnis

DER SPIEGEL 25/2011 - Inhaltsverzeichnis

End of the Euro?

Uh-oh — Marginal Revolution

Uh-oh — Marginal Revolution

Another reason that Greece is a problem.

"American banks and insurance companies that will have to make the lion’s share of default insurance payments to European institutions if Greece fails"

The Epidemic of Mental Illness: Why? by Marcia Angell | The New York Review of Books

The Epidemic of Mental Illness: Why? by Marcia Angell | The New York Review of Books

FT Alphaville � The biggest gamble in IMF history

FT Alphaville � The biggest gamble in IMF history

I don't like this one bit. I hope someone is getting something for all this pain.

Euro in Crisis - Megan McArdle - Business - The Atlantic

Euro in Crisis - Megan McArdle - Business - The Atlantic
More on the euro crisis. Another point about European integration is that there is no consistent bankruptcy policy across borders. I mean that if those Irish banks made all those terrible loans, they should go out of business. But due to national pride that can't happen. Let's look at the S&L crisis of the 1980s http://bit.ly/qaD6M. A mess of banks made some really bad loans and went out of business. What happened in Ireland the last couple of years? The banks were taken over by the government and propped up. They need to be slowly unwound. Why does every country in the Eurozone need its own bank?

The Euro Living Dangerously - NYTimes.com

The Euro Living Dangerously - NYTimes.com
Is it getting to the point where it now a matter of when? If this starts, where will it end and who benefits? Strong Dollar proponents, of course. Might be a good time to short some European bank stocks. Will this demolish the modest US recovery? If the Euro collapses or crashes, that will hurt exports to Europe. What does China do in the case of Euro failure? See less stuff to Europe, so turn up US exports?