Mangled metaphors from Neelie Kroes
From the European Commission vice-president (Digital Agenda), interviewed in the Dutch paper Volkskrant, via Google translate…“… But there is absolutely no...
“Grexit”
Grexit being, of course, a Greek exit from the eurozone. (Also, an app for archiving and sharing Gmail threads. Bummer for them.)The term comes from Willem Buiter and Ebrahim...
Otto’s revenge
- Parachuted in by the great powers of the time- Specifically, parachuted in by the great powers of the time to ensure Greek payment on their sizeable official loans- Subordinating...
Breaking up is hard to do — but here goes, anyway
From Jonathan Tepper, economist, chief editor of Variant Perception and co-author with John Mauldin of Endgame: The End of the Debt Supercyle…A thirteen point guide to breaking up the euro....
How to read CDS prices, featuring Portugal
When a sovereign or corporate becomes sufficiently distressed, a flip can happen in the way the credit default swaps are quoted. According to Markit, this is happening with Portugal now,...
Bilaterally — yours?
The FT’s James Mackintosh recently pointed out an interesting provision in the loan agreement Greece has with its bilateral official creditors – its fellow eurozone states....
Powerfrau
Bild, the German tabloid, covers all the angles. Here is a (slightly odd — we don’t think it’s sarcastic…) debt crisis panegyric to German chancellor Angela Merkel:...
Climbing down a Greece decision tree
Via Barclays Capital, this one comes with instructions:The further right we end up in this decision tree, the harder the credit event will likely be perceived by the market and...
There are official creditors, and there are “official” creditors
The unstoppable force…“If the level of Greece’s privately held debt is not sufficiently renegotiated, then public creditors, holders of Greek debt, will also have to...
That’s not a bazooka…
*This* is a bazooka.Not a €2,000bn bazooka… a €5,000bn bazooka to repair the eurozone, according to Peter Boone and Simon Johnson, writing for the Peterson Institute...
Kodak, Twinkies and Greece Call in Lazard
If you think you’re seeing Lazard’s name an awful lot these days, you’re not imagining it.
Breaking Down Wall Street’s Exposure to Europe
Check out the Wall Street bank's exposure to Europe's problem children.
