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Euro crisis

This tag is associated with 31 posts

The Bomb

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The Bomb The European Union in 2017 has the appearance of a sickly old man with so many ailments that it is hard to know whether he’ll be carried off by pneumonia, blood poisoning or stroke. The continent lurches from crisis to crisis while Brussels struggles to find policy responses that go beyond “kick the […]

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 “Catalonia Nears Default, Threatens Spain’s Debt” by Don Quijones

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The article is reprinted with permission of the author. The views expressed are exclusively those of the author and are not necessarily endorsed by Common Sense.  The original article can be found here. Warning: In compliance with Spanish Intellectual Property law, Common Sense no longer quotes nor reproduces links to sites based in Spain. Verification […]

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Implications of European Disunion on Small State Independence

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Eight years after the eruption of the worst financial crisis since the Great Depression, the European Union has failed to regain even a semblance of normalcy. Unlike the United States, which has returned to something approximating full employment[1], many member states remain stuck with stubbornly high unemployment, locked in deflation and experiencing almost non-existent economic […]

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Germany’s Unsettling Plan for Southern Europe by Stratfor

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Original article by Stratfor, republished with permission. The views expressed are exclusively those of the author and are not necessarily endorsed by Common Sense.   Europe should be feeling quite unsettled following the European Parliament’s questioning of European Central Bank (ECB) President Mario Draghi on Monday. Of the questions, there were two that strike at […]

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2016: The Year of Ungovernability (Part 1)

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As if last year was not rowdy enough, 2016 has already opened on a new note of ungovernability that promises to surpass what we’ve seen before. No new themes have been exposed, though they will surely come up; but the deep fractures that governments and institutions are desperately attempting to paper over continue to wreak […]

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Rumors of New Bank Bailouts in Spain by Don Quijones

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The article is a reprint of an article by By Don Quijones, Spain & Mexico, editor at WOLF STREET. The views expressed are exclusively those of the author and are not necessarily endorsed by Common Sense.   Spain will hold do-or-die general elections on December 20. The Rajoy government hopes that recent improvements in economic performance […]

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Europe: The Coming Storm

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Europe’s leaders continue to maintain an outward appearance of calm and assurance, preaching the green shoots of growth, the improvements to European banks’ capitalization and to their successful management of this year’s slate of crises – from Ukraine to Greece to Syria. This is, of course, propaganda: somewhat true, but mostly false and meant to […]

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Spain’s Recovery…Only for Some

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Spanish Prime Minister Mariano Rajoy gave the equivalent of the State of the Union address last week in which he highlighted the achievements of his Administration. Topping the list were two items: the accelerating growth of the economy and the falling unemployment rate. These are very good arguments, for we all know that politics is […]

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Grexodus: One Minute to Midnight

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The bad news: The latest meeting of Euro Finance Ministers broke up on Monday without any agreement between Greece and “the Institutions” on the release of the final tranche of 7.2 billion euros[1]. The good news: No one had expected there to be an agreement, so it really wasn’t much of a surprise (yes, this […]

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EU Deflation: Second Order Impacts on Consumers and Payment Systems

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Economist Edward Hugh has written two excellent articles on the confluence of long-term deflationary trends with the still powerful effects of the 2008 Financial Crisis to fundamentally alter the dynamics of belonging to the European Currency Union. The full articles can be found here[1] and here[2], but the essential message is that deflation has led […]

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“Our obligations to our country never cease but with our lives.“

John Adams

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