Is this (finally) the end of Greek membership in the euro?
Following a meeting with the German finance minister, the new Greek finance minister said that the two sides hadn’t even been able to agree on where they disagreed
European Central Bank turns the screws on Greece
The European Central Bank upped the pressure on Greece today. The goal seems to be to get the new Syriza government to back off on its call to renegotiate Greece’s bailout package.
Greece and Germany dig in
Germany and its austerity allies in the Netherlands and Finland have fired warning shots designed to head off any effort by the new Greek government of Alex Tsipras to reverse budget cuts and other measures initially put in place to win the 240 billion euro ($270 billion) bailout program for Greece.
Syriza wins in Greece and NOW the euro politics really begin
European stocks outside Athens shrugged off Sunday’s election victory in Greece by the Syriza party. Syriza has promised to reverse major parts of the austerity program imposed by the country’s creditors. That’s going to put the country on a collision course with Germany and other fiscal hardliners worried that any relaxation of the terms of the Greek bailout package will lead to backsliding on crucial economic reforms
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...The ECB finds enough of a surprise in its asset purchase plan to move European stocks higher
European stocks move up on the central bank’s news and the euro hits an 11-year low against the U.S. dollar
The bears are in charge of the euro market today
In the past the financial markets in Europe have been willing to rally just on a promise from ECB President Mario Draghi to do “whatever it takes.” This time, the doubters are saying, even actual action might not be enough to turn the EuroZone economy around.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Greece moves closer to setting off another euro crisis but how wide will it be this time?
Today’s vote in the Greek parliament ended with the government short of the votes it needed to avoid elections in January. The opposition Syriza party, which wants to renegotiate the bailout, leads in opinion polls.
Which is important since Syriza opposes the austerity measures imposed by the country’s creditors in exchange for a $305 billion bailout package.
More growth worries today from China and the EuroZone
Industrial output falls short in China for November and European banks decide that they don’t want cheap money from the European Central Bank
Euro elections leave markets guessing but inclined to see more stimulus next week from the ECB
Markets will spend this week trying to figure out what the election news from Europe means. I’m sure that explosions in Ukraine won’t make EuroZone markets less nervous but the big event is the vote for the European parliament.
