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The politicians of Europe are plunging into a form of ideological fratricide as they battle over Greece. And "fratricide" is precisely the right descriptor because in this battle there are no white hats or black hits---just statists.
Equity markets cling to hopes of agreement with Greece, rhetoric from Germany is anything but encouraging.
"Sanctions have had a heavy cost for us all, the EU has so far lost 21 billion euros.. In Spain we have been badly hit in terms of agriculture and tourism," said Jose Manuel Garcia-Margallo, giving the first figure of its kind for the EU.
The new Greek political party, known as Syriza, the Coalition of the Radical Left, has done the unthinkable: they've dared to speak the truth.
This just about sums it all up...
Update: And now this: "Moody's places Greece's Caa1 government bond rating on review for downgrade"
S&P Downgrades Greece, Suggests Worst Case Scenario With Bank Runs And "Capital Controls": Full Report
The Rothschilds, who had the power to make or break governments in the 19th century, took care not to abuse their power to avoid rousing opposition and putting their business at risk. The ECB is now operating with a swagger that...
The Greek Elites and kleptocrats are terrified of the discipline that leaving the euro will impose, but the general public should welcome the transition to an economy and society that has been freed from the shackles of Imperial debt and the kleptocr
The rest of the world, specifically, the rest of the European Union, must have levered themselves at some obscene multiple (like 100:1 or more) such that if those bets go bad they're unable to be covered...
The European Central Bank (ECB) is threatening to withdraw emergency funding from Greek banks if the Greek government doesn't do what it wants.
Greece's new Finance Minister is a highly intelligent person. His likes are not to be found in any Western government. As he stands in the way of those who are determined to complete their looting of Greece, the Western looters are out to get him.
The newsflow over the past several days was progressing much as expected: any time Greece demanded a bailout renegotiation (or termination), and an end to the Troika, Germany just said "Nein",....
Having just written that Greece needs Spartans in order to prevail over its creditors and the EU, the new Greek government is showing signs of being Spartans.
Following finance minister Varoufakis' insistence that Greece will not accept more debt....
Greece's government will not cooperate with the EU and IMF mission bankrolling the country and will not seek an extension to the bailout program, its finance minister said on Friday.
Following the ECB meeting last week, news headlines summarized the initial market response with titles such as, 'Markets rally as ECB bond buying plan exceeds all expectations'.
A Senior European politician has caused outrage by calling for computers to be fitted in all European cars as part of an EU wide road pricing system.
Greece has something like €315 billion of public debt.
The introduction of euro zone government bond purchases, which could amount to a trillion euros, will mean the ECB will join the US Federal Reserve, Bank of England and Bank of Japan in launching a quantitative easing scheme.
Iceland's conservative Independence Party will support a resolution in parliament to formally withdraw Iceland's application to join the European Union.
How many insults does the European Union expect Russia to bear without consequences?
The new year is not even a week old and already the volatility fireworks are off, as well as the continued commodity derisking.
Having closed the Friday session less than 1 pip above the hugely important 1.2000 level below which there lay many stops, following this weekend's news onslaught...
Competing Views: Grexit Would Be "Lehman Squared" vs. No Problem; Where to Point the Finger When it Blows
The Gloves Come Off: Germany Says Grexit "Manageable" As Tsipras Demands Greek Debt Writeoff
Bluff of the Day: Germany Warns "Greece is No Longer of Systemic Importance For the Euro"
Hugh Hendry's Eclectica Fund has had a great Q4 (up 3.3%, 4.0%, and 5.0% in the last 3 months) despite portfolio risk being quadruple his 'old normal'. How did he achieve this?
From the Russian bear to Islamist lone wolves, Europeans will have to be wary in the year ahead.
Podemos "Economic Manifesto" Calls for Debt Restructuring, Spain to Abandon the "Euro Trap".
