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Monetary, fiscal farce in Europe continues

First published at RGJ.com http://www.rgj.com/story/money/economy/2014/06/15/robert-barone-monetary-fiscal-farce-europe-continues/10515411/ The  European Union economies have been in, or nearly in, recession since the financial crisis in ’09. Greece has had to be bailed out several times. Spain, too, and in the case of Cyprus, bank depositors bore much of the cost. Italy and Portugal are lucky they avoided such bailouts. But that doesn’t mean they are healthy. The unemployment rates in the major European Union  …Read More

The European Farce: Part 1 — ECB to the Rescue

First published at Minyanville.com http://www.minyanville.com/sectors/global-markets/articles/The-European-Farce-Part-1-ECB/6/11/2014/id/55265?refresh=1 It is only a matter of time before the ECB will be forced into QE-like money-printing schemes. In the immediate aftermath of the financial crisis, like the Fed, the European Central Bank (ECB) stepped up and made cash available to the notoriously overleveraged banking system. That, in fact, is the basic and most vital function of a “lender of last resort.” So, bravo! But now, …Read More