Monthly Archives: October 2011

European Debt Crisis: Euro Deal

There is a French sign at all railway stations: Caution—one train hides another. The problem for the Eurozone is that even if the action this Wednesday resolves the sovereign debt crisis, there will still be the competitiveness crisis. The austerity measures taken across Europe are for the moment at least largely anti-growth. Unless the EU, […]

G-20 Opens amid Euro-debt Crisis

As the eurozone crisis rolls on, with world finance ministers urging swift action, eurozone countries seemingly dither.  But there may be method behind the madness.  The banks need to be in the best shape possible before a likely restructuring of Greek debt.   Moreover, the eurozone countries themselves need to work behind the scenes politically […]