Tag Archive: Spain

The Upcoming Spanish Lost Decade(s)

2012-12-19

To us, the big theatre surrounding Greece was just a preview of a much bigger crisis that will happen in the coming years in Spain, the upcoming Spanish lost decade(s). Greece was an absolutely desperate case; therefore, everything was quick. It took just two years till we arrived at the official sector participation and yearly German transfer …

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The Eurozone crisis between euro-morons and zombie-bankers

Global Purchasing Manager Indices, Update December 10

2012-11-12

by George Dorgan

2012-11-12

Manufacturing PMIs are considered to be the most leading and important economic indicators. Jim O’Neill, Chairman of Goldman Sachs Asset Management, believes the PMI numbers are among the most reliable economic indicators in the world. BlackRock’s Russ Koesterich thinks it’s one of the most underrated indicators. Global Purchasing Manager Indices for the manufacturing industry December 3, 2012 …

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74.8 percent of Norwegians Say No to EU Membership

2012-10-14

by George Dorgan

2012-10-14

In the latest poll, 74.8 percent of the Norwegian population says no to EU membership, while 17.2 said they would vote yes in any referendum. 7.9 percent have not decided. Seven out of ten voters of the ruling party do not share the party’s views on the EU and would have voted no in a possible referendum, … Continue reading...

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The next SNB rumor: Wall Street Journal and our response

2012-09-12

by George Dorgan

2012-09-12

A bit breathlessly…. The next SNB rumor story comes from the so-well established Wall Street Journal, its columnist Nick Hastings. WSJ: The Swiss National Bank was bold before. And the central bank would be well advised to be just as bold again. When the SNB announced just over a year ago that it was setting a …

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All roads lead to a euro zone break-up

2012-08-10

by Alex Gloy

2012-08-10

2 solutions for euro zone will work acceptable for Germany

For us all roads lead to a euro zone break-up and multiple sovereign defaults. Our reasoning can be summarized as follows: Equities are worthless when associated debt becomes encumbered (risk capital takes the first loss). Equity is not an asset; it is merely the remainder that is left over once debt is subtracted from …

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Otmar Issing’s new book on the euro crisis

2012-08-10

by George Dorgan

2012-08-10

We well remember when the über-bailouter of the Financial Times Wolfgang Münchau claimed that except some old economy professors like Otmar Issing nobody in Germany would like to abolish the euro. According to Münchau the euro can be saved only via a fiscal and a banking union. The response to Münchau’s post could be … Continue reading...

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Full text Spanish banks bailout: Memorandum of Understanding

2012-07-20

by George Dorgan

2012-07-20

Here the full text of the European’ Commission’s Memorandum of Understanding with Spain regarding the bailout of the Spanish banking sector released earlier today. Memorandum of Understanding on Financial-Sector Policy Conditionally

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Currency Outlook and Net Speculative Positions: Week from July 16

2012-07-16

by Marc Chandler

2012-07-16

Currency Outlook and Positioning: Week from July 16 Guest Post from Marc Chandler

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

2012-06-29

by George Dorgan

2012-06-29

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

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

2012-06-27

by George Dorgan

2012-06-27

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".

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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

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The German supply-side reforms or will German companies take over the PIIGS ?

2012-06-02

by George Dorgan

2012-06-02

Words heart on German street in 2010 during the first Greek bailouts were that Germany should obtain the Greek islands as collateral if Greece is not able to pay back the debt to Germany. But even today German n-tv is reporting about many Greek real estate brokers that are currently delling islands. If it is not that type … Continue...

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Why the Euro Crisis may last another 15 years

2012-03-25

by George Dorgan

2012-03-25

home prices ireland, spain, uk, france, usa, germany, switzerland 1990-2008

Abstract In the following article we will explain which types of crisis occur in the euro area and will argue that this crisis will last at least another fifteen years. (1) Competitiveness crisis: Before the euro introduction peripheral countries regularly saw their currency depreciate against the German Mark and helped them to increase their competitiveness. …

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Jürgen Stark’s resignation and the ECB 2005 warning about labor cost divergence in the Euro-zone

2011-12-18

by George Dorgan

2011-12-18

The Wirtschaftswoche reports about the real reasons of ECB Chief economist Jürgen Stark’s resignation. The reasons are rather political, namely a protest against European governments:

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The Spanish Ailing Car Industry

2005-10-05

by George Dorgan

2005-10-05

Extracts from Think Spain. October 2005. Foreign companies who manufacture cars in Spain are facing a fresh crisis. In addition to the problems of VW subsidiary Seat, various others are being forced to take decisions about the renewal of a number of different models which are reaching the end of their life-cycles. While …

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