Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
There is an ongoing run on Greece which entails capital flight. The Bundesbank is open to capital controls but the time to apply them would have been a long time ago. Now the horse has left the barn.

Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Mon Jun 13th, 2011 at 11:41:06 AM EST
[ Parent ]
Bloomberg: Portuguese, Irish Government Bonds Lead Decline on Greek Bailout Concern
German debt advanced on demand for the euro-region's safest assets, driving 10-year yields to a five-month low. Two-year German yields reached the lowest since March 17, while the spread between Portuguese 10-year bonds and German bunds widened to a record. Luxembourg Prime Minister Jean-Claude Juncker said a bailout for Greece must include "voluntary" investor participation. Costs to insure Greece, Ireland and Portugal's debt against default reached all-time highs.

...

Juncker is trying to bridge the gap between German Finance Minister Wolfgang Schaeuble, who has called for Greek bondholders to extend the maturities of their debt by seven years, and European Central Bank President Jean-Claude Trichet, who says imposing losses on creditors would be akin to a default. Trichet is scheduled to speak today in London.

...

[Bundesbank President Jens] Weidmann said the ECB was unwilling to turn its emergency bond-buying program into a "lasting institution" and that Greece's implementation of austerity measures and asset sales was crucial to securing the handout. He spoke yesterday in an interview with German newspaper Welt am Sonntag.



Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Mon Jun 13th, 2011 at 12:13:40 PM EST
[ Parent ]

Display:

Top Diaries

Sisyphean syphilis

by marco - Mar 26
23 comments

Movies

by DoDo - Mar 7
22 comments

Two ruins

by DoDo - Mar 14
7 comments

Greek MP Lapavitsas on Grexit

by Upstate NY - Mar 15
294 comments

Recent Diaries

Sisyphean syphilis

by marco - Mar 26
23 comments

Greek MP Lapavitsas on Grexit

by Upstate NY - Mar 15
294 comments

Two ruins

by DoDo - Mar 14
7 comments

Hello

by alexc - Mar 12
6 comments

Urban Agriculture

by gmoke - Mar 7
1 comment

Movies

by DoDo - Mar 7
22 comments

The new Greek government program

by talos - Feb 23
171 comments

More Diaries...

Occasional Series