Category Archive: Bailouts ESM Eurobonds

Main Author George Dorgan
George Dorgan
George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers. George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.

Will The ECB Buy Stocks?

Debate about the ECB’s stimulus options have continued to rage, with an equity purchase plan mentioned as a possibility. We think the ECB could legally buy ETFs that fit its requirements… but it would be controversial and we question the benefits. An ETF programme could total EUR 200bn, which would not be large compared to the overall QE programme.

Read More »

Steve Keen Steering the Greek Hedge Fund into the Minsky Moment #Tsiprasfacts



Read More »

European Banking Assets and Debt

Still in summer 2013, too much debt was an issue. By 2014 things have changed: Europeans have too many savings.

Read More »

Dijsselbloem: The End of the Bankers’ and Bond Holders’ Moral Hazard

We have insisted in several posts that the northern euro zone is very reluctant to continuously bail out the periphery and in particular its banks. The euro group chief Dijsselbloem has confirmed this now.

Read More »

Cyprus, the Final Compromise: The Winners and the Losers

 UPDATE March 25 The final compromise: via Reuters TOP NEWS Detail of EU/IMF bailout agreement with Cyprus Sun, Mar 24 22:19 PM EDT BRUSSELS (Reuters) – Cyprus clinched a last-ditch deal with international lenders on Monday for a 10 billion euro ($13 billion) bailout that will shut down its second largest bank and inflict heavy …

Read More »

Cyprus: The initial compromise and reactions

The initial compromise The Cyprus compromise combines a 10 billion € bailout with European, basically German tax-payers money, that also obliges rich account owners (9.9% levy) – rich Russians and Brits – and poorer account owners (6.75% levy) – Cypriot tax-payers money – to take part in the deal. Initial reactions from Zerohedge over Keynesian mainstream …

Read More »

Cyprus Levy on Deposits: New Escalation or Final Stage of Euro Crisis?

Nicosia will impose a 9.9 percent one-off levy on deposits above 100,000 euros in Cypriot banks. This constitutes maybe the final stage of the euro crisis, with the very  last country to be rescued. Or will it be a new escalation and may be the most dangerous one, a bank-run? How many Cyprus clients managed …

Read More »

Ways to the Northern Euro

Two ways for building the Northern euro, exit of Southern members or slow creation of Northern euro with currency interventions of central banks.

Read More »

The Euro Crisis: Details and chronology and the German Perspective on it

The history of EU reforms, bailouts during the euro crisis and the German perspective on them

Read More »

Eurobonds, fiscal or banking union are all pure utopia

Germany’s stance in the euro crisis: More than ESM will not be possible for many years updated on August 31, 2012   German politicians and the German Bundesbank believe that the Euro crisis can be only solved by supply side reforms as formulated in the Euro Plus Pact, reforms that were already successfully introduced during the Thatcher/Reagan era in the …

Read More »

Target2 Explanation and Discussion



Read More »

German constitutional court needs 3 months to decide about the injunction

The German constitutional court will need up to 3 months for the injunction. Weidmann's critic on the ESM in detail. Estimations of German liability between 900 bln. and 2 trillion EUR.

Read More »

Only 17% of German voters in favor of Eurobonds

  Voters are strongly against many other European utopias The newest poll of the Forsa institute, here in the left-wing Stern and the conservative Welt, shows that Germans are strongly against Eurobonds and many more European “utopias”, as we called it. The German chancellor Angela Merkel recently connected her life with the fulfillment of the voters wish to …

Read More »

Wolfgang Münchau, FT: Merkel was the winner of the Euro summit

  Wolfgang Münchau endorsed many of our arguments Wolfgang Münchau, Financial Times, has endorsed many of our arguments of our Friday's opinion  about the Euro summit where we stated that there was nothing really new. Münchau even claims that "The real victor in Brussels was Merkel."

Read More »

At the Euro summit there was nothing really new. What was the party about ?

At the euro summit today there was essentially nothing what was really surprising. We wonder what markets are so excited about.

Read More »

Merkel: ‘No Eurobonds as Long as I Live’, Hollande: ‘Eurobonds will take up to 10 years’

  German chancellor Angela Merkel today confirmed the content of our article that Eurobonds are pure utopia. She vows  "No Eurobonds as Long as I Live".

Read More »

Can Merkel stop the Eurobonds ? German “Der Focus” on Eurobonds

  The German "Der Focus",one of the most successful weekly magazines, titles "Can Merkel stop the Eurobonds ?" Der Focus claims that Eurobonds have the following issues:

Read More »

Eurobonds, fiscal union or banking union are all pure utopia

Eurobonds are light years away.Germany wants the following order: 1) Euro Plus Pact 2) Fiscal Compact 3) ESM 4) Political union 5) Fiscal union 6) Eurobonds

Read More »