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As Europe continues its downward spiral into financial ruin, thanks in large part to the debts of nations like Greece, Spain, Ireland, and Portugal, it’s easy for an outside observer to look at Europe as a den of fiscal incompetence. Yet, amidst the wreckage, there is some some signs of fiscal sanity coming from Italy …
…states the former Fed Chairman Alan Greenspan in a recent interview with Bloomberg. Not only is the US debt at a world record breaking level, some European countries who rely on the United States and its close friend in the European Union to stay afloat are approaching complete default. Greece is currently in the spotlight. As …
A lot of revolutionary ideas have come out of Europe over the past two centuries. But would you imagine requiring that any contributions by private banks to the Greece bailout be strictly voluntary would be one of them? The Guardian reports: Angela Merkel has admitted defeat over Germany‘s plan to force private banks to contribute funds to a …
You bet it can. A fascinating report from Societe Generale, a French Bank, argues that, “The main difference between the situation in Europe and the US is that the former is a near-term risk while the latter is a longer-term one.” While the risk may be deemed long term, monetary uncertainty could prove otherwise. As many …
The New York Times reports that “left-leaning governments” in Europe are — surprise! — finding out that their welfare states are not sustainable: Europeans have boasted about their social model, with its generous vacations and early retirements, its national health care systems and extensive welfare benefits, contrasting it with the comparative harshness of American capitalism. …
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