…of the dollar. An index of the global status of the euro developed at the ECB shows a decline in the last fifteen years, which may have stabilized in the…

Calculated Risks Bill McBride Fed Chair Jerome Powell is participating in a panel discussion today at the European Central Bank (ECB) Forum on Central Banking 2023 in Sintra, Portugal. Federal…

Yves Smith asks …I’ll throw it out to you: what do you deem the odds of Euro breakup to be (with “breakup” defined as at least one country exiting the…

by Robert Waldmann (lifted from Stochastic Thoughts) Fiction In the Washington Post I don’t want to make this a daily feature but Anthony Faiola and Michael Birnbaum made it hard…

Two posts on European Banks and their view of what constitutes a “Safe Harbor.” His conclusion isn’t just The Pull Quote of the Year, it’s the Pull Quote That Explains…

by Rebecca Wilder Edward Harrison draws our attention to the euro area bond crisis: Spain, Italy, Belgium yields now under attack. I’d like to add to this thread by offering…

Go. Read. US Bank Exposure to Greece, part 3. The FT lets someone from Nomura argue that Kash’s declaration of U.S. bank exposure to Greek default in Part 2 (referenced…

O.K., Greece is now “high yield”, “junk”, “below investment grade”, at least according to S&P. What I mean by that is S&P now rates Greece’s foreign and local currency sovereign…

I have been a Bad Blogger this week. (As opposed to my usual practice, which seems to be described as Blogging Badly.) While I intend to continue the New Tradition…

I feel like I am living in a “Choose Your Own Adventure” book. What global shock comes next? The air of uncertainty remains. This morning an imminent (but questionably so)…