asterisk2a + liberal + mariodraghi   10

What Happens Next (In Europe)?
the odds of another crisis are higher than a rally to fresh records. [...]
“The 2009-2015 rally originated from two main drivers: a massive stimulus, and credit expansion in China,” said Goette, who’s a partner at his firm in Zug, Switzerland and helps oversee 1 billion Swiss francs ($1 billion).

“European earnings have not followed suit so far. Skepticism regarding central-bank operations has started to emerge.”
ECB  Brussels  recovery  reflate  reflation  China  credit  bubble  Germany  PIGS  zombie  banks  European  Bank  Supervision  European  Economic  Area  European  Election  2014  working  poor  squeezed  middle  class  Soziale  Marktwirtschaft  MarioDraghi  OMT  LTRO  monetary  policy  monetary  stimulus  Fiscal  Pact  Schuldenbremse  sovereign  debt  crisis  France  Brexit  Grexit  Angela  Merkel  Wolfgang  Schäuble  history  underinvestment  Richard  Koo  Yanis  Varoufakis  liquidity  trap  zombie  corporations  youth  unemployment  demographic  bubble  OAP  discretionary  spending  disposable  income  liberal  reform  Precariat  precarious  employment  low  pay  low  income  Minijob  Zeitarbeit  Leiharbeit  1  Euro  Job  Structural  Impediments  imbalance  unemployment  monetary  transmission  mechanism  monetary  union  union  Rechtsruck  Bundesbank  fault  lines  shareholder  capitalism  bailout  GFC  2016  PBOC  Exportweltmeister  zombie  Financial  Stability  Board  crony  capitalism  Deutsche  Bank  infrastructure  investment  competitiveness  Beton  Gold  Betongold  asset  allocation  Super  Rich  1%  oligarchy  plutocracy  democracy  tax  evasion  tax  avoidance  Wall  Street  shareholder  value  profit  maximisation  profit  maximization  Russia  Crimea  Ukraine  U 
april 2016 by asterisk2a
Yanis Varoufakis Candid Interview - Shocking Disfunction and The Power Of Oligarchs
Europe will not survive next crisis. [...] end of interview - China looked after the rest of the world and especially Germany after 2009 (credit bubble) as USA looked after Germany in the 50's - Wirtschaftswunder. Now China is trying its best not to implode and fall below 5% of growth per annum. And now USA is trying to contest Asia (excluding China) economically and militarily through TPP and military increase in that region. //&! Yanis Varoufakis - Guardian Live - youtu.be/md6_WfF9Ky0
Grexit  Troika  IMF  oligarchy  plutocracy  Greece  corruption  bribery  Yanis  Varoufakis  Tsipras  referendum  Wolfgang  Schäuble  Angela  Merkel  Brussels  European  Union  Gold  Standard  economic  history  liberal  economic  reform  antitrust  cartel  tax  evasion  tax  avoidance  Schwarzgeld  Schwarze  Kassen  Schwarzkasse  ChristineLagarde  Panama  Papers  revolving  door  lobby  No  Representation  Career  Politicians  trust  far-right  right-wing  sovereign  debt  crisis  ECB  MarioDraghi  banking  crisis  bank  bailout  GFC  democracy  neoliberal  neoliberalism  shareholder  capitalism  crony  capitalism  Chicago  School  China  credit  bubble  BRIC  USA  Hegemony  TTIP  TPP  geopolitics 
april 2016 by asterisk2a
IMF Slams Germany, Says Greece "Needs Debt Restructuring" | Zero Hedge
on the ticker. IMF'S LAGARDE SAYS DEBT RESTRUCTURING NEEDED IN GREECE. IMF'S LAGARDE SAYS FUND REMAINS 'FULLY ENGAGED' WITH GREECE. IMF'S LAGARDE SAYS IMF CANNOT GIVE GREECE SPECIAL TREATMENT // Earlier today, confirming that Germany sternly refuses to change its tune about a Greek debt haircut or even a debt "reprofiling" of Greece and would not budge an inch on Tsipras tacit request for at least some debt leeway, we reported that "the German government does not see any reason to grant Greece either a classic debt haircut or any other measures that would slash the value of money on loan to the crisis-ridden country, a spokesman for the finance ministry said on Wednesday." // IMF has admitted it was wrong to advocate for austerity, now IMF admits it was wrong to hope that its approach (together with Troika) would help Greece. // an economic model is an economic model, not the real world and especially not able to predict the future. // "Alternativlos."
Grexit  sustainable  sustainability  Greece  PIGS  sovereign  debt  crisis  debt  jubilee  haircut  debt  restructuring  ChristineLagarde  economic  history  austerity  ideology  dogma  academia  KennethRogoff  carmenreinhart  academic  economic  model  economist  economics  economic  damage  neoliberal  neoliberalism  liberal  economic  reform  Troika  IMF  ECB  MarioDraghi  BuBa  Jens  Weidmann  Angela  Merkel  Wolfgang  Schäuble  Germany  France  FrancoisHollande  European  Union  Yanis  Varoufakis  Alexis  Tsipras  referendum  Career  Politicians  No  Representation  society  bailout  zombie  banks  Gesellschaft  fairness  GFC  recovery  European  Syriza  Podemos  Indignants  Indignados  lost  generation  lost  decade  trust  trustagent  Protest  Partei  Protest  Party  symptom  voter  turnout 
july 2015 by asterisk2a
Greek debt crisis: What next for the European Union dream? - BBC News
In a European Union that's currently dominated by eye-popping debt figures, last-minute debt talks and sharp-tongued insults, some people are wondering what happened to the idealism behind the European project: the "European idea"? // &! Greece debt crisis: Eurozone decision down to politics - http://www.bbc.co.uk/news/blogs-eu-33429622 // agglomeration of the symptoms and outcomes of our time have pushed weak career politicans in a corner where they can't admit a big academic/intellectual/economic mistake and at least re-orientate. thus keeping the destructive path they are on. because their national (political) interest (and that of their constituency) is them more important (their status quo career) than the greater good and stable integrated (& solidarity) future of Europe is so needs in an even more unstable and uncertain and competitive future. It all started when they said it was "Alternativlos" to bailout banks and transfer the debt (risk) on public balance sheet.
Grexit  PIGS  European  History  European  Union  Angela  Merkel  Jean-Claude  Juncker  ECB  MarioDraghi  Germany  France  FrancoisHollande  Leadership  Career  Politicians  No  Representation  Wolfgang  Schäuble  compromise  political  error  political  folly  political  economy  political  theory  Syriza  Alexis  Tsipras  Yanis  Varoufakis  austerity  dogma  ideology  IMF  ChristineLagarde  humility  humble  character  economic  Fiscal  Pact  Schuldenbremse  Gesellschaft  society  symptom  bailout  PIIGS  zombie  banks  PIIGSFB  GFC  recovery  2015  UK  neoliberal  neoliberalism  crony  capitalism  TBTF  toobigtofail  too  big  to  jail  Wall  Street  liberal  economic  reform  referendum  democracy 
july 2015 by asterisk2a
Greece’s fight is for democracy in Europe. That’s why we must support it | Owen Jones | Comment is free | The Guardian
The EU powers told Greeks their world would cave in unless they acquiesced by voting yes. The no vote has raised the political stakes even higher (by Owen Jones, author) The referendum was, of course, a rejection of an austerity programme that has unleashed what is commonly described in Greece as a humanitarian crisis. Since Lehman Brothers crashed in 2008, austerity has always relied on the displacement of blame from elites to elsewhere. It was Goldman Sachs who helped the then Greek government to cook the countrys books to win entry into the euro. It was German & French banks who profitably and recklessly lent to Greece, just as US banks disastrously showered subprime mortgages on low-paid Americans. It was Germany who benefited from being able to export its consumer goods to peripheral European countries such as Greece. [transfer of debt/risk, plunging people & welfare state downward spiral with little growth to pay off new debt = unsustainable by Wall Street] &! bit.ly/1G3v9ns
democracy  referendum  Grexit  Greece  Europe  technocrat  austerity  economic  history  GFC  Career  Politicians  IMF  World  Bank  ECB  Troika  crony  capitalism  bailout  zombie  banks  too  big  to  jail  TBTF  toobigtofail  banking  crisis  sovereign  debt  crisis  Wall  Street  capitalism  neoliberal  neoliberalism  liberal  economic  reform  Yanis  Varoufakis  Owen  Jones  Thomas  Piketty  debt  jubilee  haircut  Leadership  No  Representation  Super  Cycle  debtoverhang  debt  restructuring  dogma  ideology  propaganda  Lügenpresse  manufactured  consent  history  European  solidarity  Germany  Angela  Merkel  corporate  state  Wolfgang  Schäuble  Jean-Claude  Juncker  ChristineLagarde  MarioDraghi  academia  academics 
july 2015 by asterisk2a
WikiLeaks - Espionnage Élysée - Angela Merkel on Greece and Europe (actions speak louder than words).
Earlier reporting reveals that following talks last week in Berlin with Merkel, Hollande complained that nothing of substance was achieved; it was purely for show. Hollande had found the chancellor fixated on the Fiscal Pact and above all on Greece, on which he claimed she had given up and was unwilling to budge. // Angela (Germany) put(s) national and personal political interests first second third and last .... // symptoms of our time, even politicians jump on "everybody for himself" //
Angela  Merkel  Grexit  Greece  Leadership  PIGS  sovereign  debt  crisis  European  Union  Wolfgang  Schäuble  GroKo  Germany  shared  economic  interest  Career  Politicians  No  Representation  Wall  Street  haircut  Nationalism  political  theory  political  economy  policy  folly  policy  error  short-term  thinking  short-term  view  Legacy  political  error  political  folly  Jean-Claude  Juncker  ECB  MarioDraghi  GFC  bailout  fairness  solidarity  propaganda  populism  Lügenpresse  manufactured  consent  IMF  EFSF  toobigtofail  TBTF  too  big  to  jail  zombie  banks  banking  recovery  economic  history  Sozialer  Abstieg  downward  mobility  Gini  coefficient  inequality  tax  evasion  tax  avoidance  squeezed  middle  class  labour  market  labour  economics  precarious  work  Precariat  liberal  economic  reform  unintended  consequences  unknown  unkown  working  poor  Leiharbeit  Zeitarbeit  Minijob  minimum  wage  living  wage  Aufstocker  hartz-iv  Riester-Rente  Niedriglohn  Niedriglohnsektor  Lohnzurückhaltung  Service  Sector  Jobs  globalisation  globalization  competitiveness  competitive  flat  world  borderless  job  market  job  creation  underemployed  youth  unemployment  lost  decade  lost  generation  monetar 
july 2015 by asterisk2a
Wie Europa Schulden loswerden kann - SPIEGEL ONLINE
[Rogoff & Reinhart advocating financial repression] [...] [Because Austerity didn't work.] Tatsächlich habe die europäische Wirtschaftspolitik - die Haushaltsdefizite senkt und Strukturreformen für mehr Wachstum durchführt - recht wenig getan, um den Schuldenberg wirklich zu verringern. Die Politik könnte die Last für die nächsten Jahre sogar verschlimmert haben, sagen viele Volkswirte. Die Sparpolitik hat das Wachstum überraschend stark beeinträchtigt. Während die Hinweise darauf, dass die Strukturreformen tatsächlich die Wirtschaft beflügeln, eher überschaubar ausfallen. Stattdessen sinken Einkommen, Gewinne und Steuereinnahmen, was die Schuldenlast immer schwerer erträglich macht.
debt  servicing  sovereign  debt  crisis  consumer  debt  Super  Cycle  Europe  zombie  consumer  zombie  corporations  ZIRP  liquidity-trap  QE  KennethRogoff  liberal  economic  reform  economic  history  MarioDraghi  ECB  unconventional  monetary  policy  monetary  theory  monetary  transmission  mechanism  deflation  deflationary  debtoverhang  balance  sheet  recession  GFC  greatrecession  greatdepression  lostdecade  lostgeneration  youth  unemployment  austerity  IMF  Japan  UK  USA  budget  deficit  France  financial  repression  hunt  for  yield  asset  bubble  speculative  bubbles  New  Normal  PIMCO  Mohamed  El-Erian  debt  jubilee  debt  bubble  debt  monetization  debt  monetisation  debt  restructuring  private  debt  public  debt  household  debt  carmenreinhart  WallStreet  inflation  targeting  inflation  expectation  communication  babyboomers  haircut  PIGS  toobigtofail  TBTF  Richardkoo 
january 2014 by asterisk2a
Five Years After Lehman, BIS Ex-Chief Economist Warns "It's Worse This Time" | Zero Hedge
The share of "leveraged loans" or extreme forms of credit risk, used by the poorest corporate borrowers, has soared to an all-time high of 45% - 10 percentage points higher than at the peak of the crisis in 2007. + http://www.zerohedge.com/news/2013-09-14/record-high-grade-leverage-means-pik-toggle-lbo-debt-back-and-worse-ever // The Bank Of International Settlements Warns The Monetary Kool-Aid Party Is Over www.zerohedge.com/news/2013-06-23/bank-international-settlements-warns-monetary-kool-aid-party-over ""central banks must head for the exit and stop trying to spur a global economic recovery... cheap and plentiful central bank money had merely bought time, warning that more bond buying would retard the global economy’s return to health by delaying adjustments to governments’ and households’ balance sheets." http://www.telegraph.co.uk/finance/10310598/BIS-veteran-says-global-credit-excess-worse-than-pre-Lehman.html
unemployment  employment  monetary  policy  Mark  Carney  ope  reflation  zombie  banks  monetary  transmission  mechanism  BOE  banking  crisis  carmenreinhart  BOJ  LBO  balancesheet  policy  folly  QE  liquidity  2013  fiscal  policy  UK  debt  monetisation  political  error  unknown  unkown  greatdepression  zombie  consumer  deleveraging  debt  monetization  Richardkoo  centralbanks  liberal  economic  reform  faultlines  GFC  monetary  theory  exuberance  MarioDraghi  unintended  consequences  global  economy  monetary  stimulus  Help  to  Buy  Scheme  liquidity-trap  zombie  corporations  ECB  monetary  system  political  folly  benbernanke  bank  crisis  Abenomics  rebalancing  China  greatrecession  policy  error  productivity  LTRO  NIRP  OMT  Fed  communication  economic  history  Super  Cycle  stagflation  leverage  KennethRogoff  sovereign  debt  crisis  recovery  unconventional  monetary  policy  ZIRP  USA  BIS  POMO  Funding  for  Lending  Scheme  corporate  governance  fiscal  deficit 
september 2013 by asterisk2a

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