Tag Archive
Latvian Meltdown: Sweden Gets €3bn
ECB lends Sweden €3bn
By Ralph Atkins in Frankfurt, Joshua Chaffin in Brussels,and Robert Anderson in Stockholm, June 11 2009 03:00
The European Central Bank has acted to head off a financial crisis in the Baltics, providing Sweden’s central bank with a €3bn loan in a confidence-boosting move amid growing fears over Latvia’s economy.
The ECB move [...]
Euroland in Deflation, but Trichet Couldn’t Care Less
EUROZONE INFLATION FALLS TO ZERO
By Ralph Atkins in Frankfurt, May 29, 2009
Eurozone inflation has fallen to zero, the lowest since comparable records began in 1991, and could fall even lower as a result of the region’s severe recession as well as cheaper oil prices.
The annual inflation rate in the 16-country region fell from 0.6 per cent in April [...]
The Great Mystification
Bernanke said it first. Trichet followed suit. The OECD is already preparing banquets and workshops in June to look beyond the crisis. As if it were over. All this is ludicrous framing and wishful thinking, which goes like: “if we shift the attention from the unfolding effects of the crisis (such as skyrocketing unemployment) to [...]
Krugman Confirms GR.info’s Thesis that EU will suffer worse slump due to monetarist orthodoxy
By PAUL KRUGMAN
Published: March 16, 2009
I’m concerned about Europe. Actually, I’m concerned about the whole world — there are no safe havens from the global economic storm. But the situation in Europe worries me even more than the situation in America.
Just to be clear, I’m not about to rehash the standard American complaint that Europe’s [...]
Fuck the ECB: european solidarity trumps monetarist dogma
Friends, Sisters, Genderbenders of the european peninsula: the old guys in Frankfurt are trying to prevent Germany to bail out Ireland and other countries in the eurozone because otherwise “fiscal discipline” and the euro would be in danger. Trichet, Almunia, you there? Then listen well: fuck the Maastricht Treaty and the Stability Pact: its utter [...]