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Categories
Meta
Tag Archives: Euro
Brexit
The reality of Brexit unleashes a flood of questions, most of which cannot be answer for quite a while. The near term consequences of the UK’s exit from the European Union will depend on the details of the divorce, which … Continue reading
Posted in Economics, News and politics
Tagged Brexit, Britain, Brussels, ECB, EEC, England, EU, Euro, European Commission, Greece, IMF, Single market, trade, UK
3 Comments
Greece: What should its creditors do now?
Following Sunday’s NO vote in Greece, what ever that might have meant, it is tempting to tell Greece to get lost and be done with them. Aside from the unseemly lack of compassion for our suffering fellow man, the further … Continue reading
Cryptocurrencies – The Bitcoin Phenomena
Revised February 14, 2014 Bitcoins are digital fiat currency passed directly between two people without the need for a trusted third party, such as a bank.[1] In this respect they resemble banknotes. Bitcoin with a small “b” is a privately … Continue reading
Posted in Economics, Money
Tagged Bitcoins, cryptocurrency, Currency, digital money, Dollar, Euro, M-Pesa, means of payment, medium of exchange, Money, remimbi, store of value, unit of account
13 Comments
Printing Money
Isn’t that just printing money? Here is a quick, and hopefully simple, primer on what central banks do. Central banks print money. They are responsible for issuing a country’s legal tender (banknotes and bank deposits with the central bank) and … Continue reading
Posted in Money
Tagged Bitcoins, Dollars, ECB, Euro, Fed, Federal Reserve, Great moderation, inflation, Lender of Last Resort, liquidity, monetary policy, PayPal, printing money, private money, recession
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Cyprus: Bailing in and capital controls
Three European countries with oversized banking sectors have suffered major bank failures. Two of them are in the Euro Zone (Ireland and Cyprus) and one has its own currency (Iceland). Iceland and Cyprus imposed temporary capital controls, while Ireland did … Continue reading
Posted in Banks, Debt, Money
Tagged bank resolution, bank restructuring, Banks, Cyprus, ECB, EU, Euro, Iceland, IMF, Ireland, market regulation, moral hazard, regulation, supervision
1 Comment
The Cyprus Game Changer
Early banks were established by wealthy men that depositors could trust to return their money when they wanted it. Bank owners had unlimited liability for the trust placed in them. Any losses that exceeded what the bank owed its creditors … Continue reading
Posted in Debt, Money, News and politics
Tagged bail in, bail out, Bank of Cyprus, bank restructuring, Banks, Cyprus, debt, ECB, EU, Euro, FDIC, IMF, Laiki
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Cyprus and the Euro
Does the Euro need to be supported by closer European fiscal integration? Many countries do just fine without their own currency and no fiscal coordination with their currency’s issuer. Panama has used the U.S. dollar for well over a century … Continue reading
Has the ECB provided the missing piece to resolve the EU debt crisis?
On September 6, Mario Draghi, president of the European Central Bank (ECB), announced that the ECB would engage in unlimited secondary market purchases of government bonds of member countries adhering to the policy conditions agreed to with the IMF and … Continue reading
The Hutchinson Lecture at the Universtiy of Delaware
Tuesday (April 17) I spent an enjoyable day in Newark, Delaware as the guest of the Economics Department of the University of Delaware. My afternoon, more technical, lecture to the graduate students and faculty covered my proposal for the reform … Continue reading
Posted in Debt, Economics, Money, News and politics
Tagged Bosnia, Currency, debt, deficit, Euro, Greece, South Sudan
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Saving Greece: Austerity and/or growth
Econ 101: When discussing Greece’s economic problems public officials and the press regularly toss out the need for “austerity” and/or “growth” as if they were clearly defined and understood concepts. I suspect that they mean quite different things to different … Continue reading
Posted in Debt, Economics
Tagged austerity, debt, debt crisis, EU, Euro, Greece, growth, IMF, structural adjustment
5 Comments
