Tag Archives: Spain

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

Posted in Debt, Economics, News and politics | Tagged , , , , , , , , | 1 Comment

Spain’s Financial Crisis: First Principles

Europe’s debt crisis has many contributing elements: bloated government bureaucracies, unaffordable social welfare programs, and productivity stifling labor and commercial laws.  However, none is as central as the condition and behavior of those European banks that overlent to and undercharged … Continue reading

Posted in Debt, Money, News and politics | Tagged , , , , , , , | 1 Comment

Buying time for Italy

Buying time can be useful if you get something useful with it, otherwise it is a waste of time and money. Italy needs to borrow less domestically to finance its government’s expenditures (reduce its fiscal deficit) and to borrow less … Continue reading

Posted in Debt, Economics | Tagged , , , , , , | 4 Comments