Europe

Gotham City Takes Down Spanish Joker

by Don Quijones •  • Comments Off on Gotham City Takes Down Spanish Joker

Gowex was one of the most recommended stocks in Spain, including among the biggest banks. But under attack by a short-seller, it jumped from denial to confession and collapse in five short days, exposing just how well Spain’s regulators function.

A Dark Alliance: European Union Joins Forces With Wall Street

by Don Quijones •  • 1 Comment

Negotiations behind closed doors are under way to water down all forms of financial regulation on both sides of the Atlantic via the Transatlantic Trade and Investment Treaty. Leading the charge: not the US government, but an unholy alliance between the European Commission, Wall Street, and the City of London.

German Miracle Economy Trips, Good Weather Gets Blamed

by Wolf Richter •  • Comments Off on German Miracle Economy Trips, Good Weather Gets Blamed

After a decent first quarter, a lot of iffy data has cropped up in Q2. Today, industrial output added to the woes. The weather got blamed … the warm weather in Q1 that caused the drop-off now! I mean, come on!

Mini Tax Havens: How Europe’s 1% Gets to Pay Only 1%

by Don Quijones •  • Comments Off on Mini Tax Havens: How Europe’s 1% Gets to Pay Only 1%

Under the guise of austerity, taxes on the middle class and small businesses in Spain and other countries have reached confiscatory levels. But for the wealthy, there is a special deal – and it erupted into a scandal.

It’s Official: Despite Media Hype, Eurozone STILL in Recession

by Wolf Richter •  • Comments Off on It’s Official: Despite Media Hype, Eurozone STILL in Recession

Politicians and Eurocrats have already taken credit for the recovery, and a whirlwind of backslapping has ensued – prematurely, it turns out.

This Debt Is Explosive, And it Sits on the Shelf Everywhere, Waiting to go off

by Wolf Richter •  • Comments Off on This Debt Is Explosive, And it Sits on the Shelf Everywhere, Waiting to go off

I was interviewed by Jorge Nascimento Rodrigues for “Janela na web” (a Portuguese site) and the printed edition of Expresso. After what I said, he might never interview me again :-]

Sex, Drugs and Dodgy Accounting: Spain’s New Growth Strategy

by Don Quijones •  • Comments Off on Sex, Drugs and Dodgy Accounting: Spain’s New Growth Strategy

When it comes to creative accounting, few can hold a candle to Spain’s finance minister Cristobal Montoro, who unveiled his latest scheme to “grow” the economy: adding prostitution and illegal drugs to GDP to solve a host of urgent problems.