European companies are turning to America for loans as the Greek credit crisis deepens. The French bank, Societe General, had its credit rating downgraded to AA3 with a negative outlook because it was embroiled with Greek loans. BP, British Petroleum,… Continue Reading →

Germany doesn’t like Greece to be unpredictable. Merkel said that was one reason why they couldn’t allow Greece to have a messy default. It couldn’t be controlled and no one would know what would happen. It might start a dangerous… Continue Reading →

Really the euro is supposed to be the German deutsche mark. Investors have treated it that way. That’s why it’s worth so much. It’s like the British pound sterling. That’s why the rest of Europe has to conform to German… Continue Reading →

Wolfgang Schauble’s deputy, Jorg Asmussen, has been appointed to succeed Stark on the ECB executive board. This nominee has not spoken out publicly on the issue of ECB bond buying. And since his appointment has to be endorsed by the… Continue Reading →

Most investors think of the euro as the old German deutsche mark. That’s why it’s worth so much against other currencies. Thus it follows that the same investors assume that the ECB is the old Bundesbank. That’s apparently what Stark… Continue Reading →

Saturday, September 10, ’11: Germans Are Turning Sour On Currency Union Jurgen Stark quit his job on the ECB board effective Friday. He was the member representing Germany. Like many people in that land he doesn’t approve of the central… Continue Reading →

World War I was the last time the Arabs and Turks could be split on the issue of what European power they supported. In the Great War Lawrence of Arabia led the Arab Revolt, helping the Arabs win their independence… Continue Reading →

People thought it was up to Angela Merkel whether the EU would continue. Now the German Constitutional Court has decided that it’s up to Parliament. Not the full Parliament as it turns out, but the Budget Committee. From now on… Continue Reading →

Merkel’s coalition seems to be breaking up over the second Greek bailout deal. It has caused a rebellion in her own coalition. Twenty-five lawmakers have gone on recording saying they won’t support the bailout changes. Even worse, during a Monday… Continue Reading →

It’s supposedly been two years since we left the last recession 2008, though many of us never noticed the recovery. But now chances are likely that we are entering another one. This time instead of being sparked by Lehmann Brothers,… Continue Reading →