Eurozone Comes Back to Reality With a Crash by Don Quijones • Dec 11, 2014 • 2 Comments Any lingering hopes that the debt crisis was put to rest are brutally dashed. Investors are bailing out: Greek stocks down 20% in three days.
S&P Wakes Up, Cuts Italy to One Notch Above Junk, Economy Sinks into Terrific Mess by Wolf Richter • Dec 5, 2014 • 3 Comments But no worries, the ECB’s desperate backdoor bailout keeps Italy afloat.
The Smiling Face of Austerity: More Welfare for Rich Landowners in the EU by Don Quijones • Nov 25, 2014 • 4 Comments Extreme wealth is not just subject to virtually no tax; it is a magnet for public funds.
The Wrath of Draghi: Biggest German Banks Impose “Negative Interest Rates” by Wolf Richter • Nov 20, 2014 • 13 Comments “Punishment Interest” Germans call it with Teutonic precision. Bank: “Just stop saving.”
Italy’s Crazy New Economy from Hell by Wolf Richter • Nov 14, 2014 • 17 Comments “We are crushed by our country’s debt.”
Luxembourg Takes the Heat, but the World’s Worst Tax Haven – the City of London – Remains Unscathed by Don Quijones • Nov 8, 2014 • 7 Comments There are a lot of tax havens in Europe. But they pale against the power of the City of London.
It’s Official: Spain is Unraveling by Don Quijones • Nov 7, 2014 • 16 Comments While the Rajoy government fiddles in its culture of corruption, the people simmer with anger, and Spain is about to enter a whole new world of pain.
European Harmony? Merkel Hands Cameron an Ultimatum and for First Time Ever Sees Britain’s Exit from the EU by Wolf Richter • Nov 3, 2014 • 9 Comments The German government draws a line. If Britain steps over it, it doesn’t belong in the EU. And it’s not about money.
Who’s Tripping up the Designs of the Global Corporatocracy? by Don Quijones • Nov 2, 2014 • 7 Comments Resistance not only from certain quarters of the largely disenfranchised public but also from the least likely national governments.
The Wrath of Draghi: First German Bank Hits Savers with ‘Negative Interest Rates’ by Wolf Richter • Oct 30, 2014 • 8 Comments “Punishment Interest” it’s lovingly called in Germany, as the ECB intends to flog savers until their mood improves.
