If there's one thing economists don't like, it's politics. We can draw up any number of fantastic policies on paper, but getting them through legislatures and central bank committees is another story. Politics has been a big part... more »
Bank of America has a nice twist on a Greek exit, or "Grexit" as everybody now calls it.
The euro would shoot up to $1.40 against the dollar (after first falling to $1.20 in the immediate panic). It is $1.27 now.
Risk assets... more »
Luckily SunGard APT doesn’t make films. Pretty much nothing happens in its version of that great euro drama Acropolis Now.
The specialist in “multifactor risk models” popped up yesterday to tell us that... more »
Suddenly, it has become easy to see how the euro — that grand, flawed experiment in monetary union without political union — could come apart at the seams. We’re not talking about a distant prospect, either.... more »
It is increasingly conceivable that Greece may leave the euro zone, not just because of its own political dysfunction but also because the consequences of such an exit for the rest of the Europe and the global economy no... more »