Some thoughts on what may happen after Greece’s referendum tomorrow.
Some comments on today’s ECB Governing Council decision to cap ELA for Greek banks.
A discussion of the mechanism that is potentially driving Greece out of the Eurozone and its implications for the future of the euro.
Prior to Monday’s umpteenth “summit to beat all summits”, some context on how we arrived at the current situation in Greece.
There seems to be a new brand of op-ed at the FT. Formerly respected academics write crazy things about the euro crisis, particularly Greece. Some thoughts on a particularly nutty piece on Greece by Francesco Giavazzi.
Lots of people think the euro area’s central banks will be handing back all the interest payments they receive on their QE bonds, providing a nice boost to the taxpayer. They won’t. Grim details here.
With QE purchases starting a few days ago, some thoughts on how QE works with a nice graph to explain.
Some new thoughts on the “can you make losses printing money” theme, this time with a Hans-Werner Sinn angle.
The situation in Greece continues to tick over. An explanation of the ECB’s decision tonight to cut off various Greek assets from its eligible collateral list.
It’s complicated. But it’s got nothing to do with technocratic ECB rules.