Many of my students will know that I’m a big fan of the World Bank’s Doing Business program. The recent attempts by various interest groups to get the project shut down or limited are unfortunate. Some thoughts here.
Sorry Olli, the IMF Were Being Nice About Europe’s Role in Greece
Olli Rehn thinks the IMF were being mean to the euro area’s leaders in last week’s report on the Greek programme. I don’t think so. Here‘s a post that lists many of the punches the IMF pulled.
IMF on Greece: We Screwed Up But It’s Really the Eurozone’s Fault
The IMF’s apologia, er, review on its Greek programme makes for very interesting reading. Some quick comments here.
When Nassim Taleb Attacks
A report on my bizarre Twitter mauling at the hands of none other than Nassim Nicholas Taleb.
Has Cyprus Already Left the Euro?
In the presentation I gave last month on potential euro breakup scenarios, I flagged the introduction of capital controls in a euro-area member as an important step along the road to a potential breakup. Well, they are here in full today in Cyprus. Thoughts here.
Cyprus: Europe Rolls the Dice on its Banks
My reaction to the final agreement on Cyprus including a link to an op-ed I wrote for the Irish Times.
Vermont Exit from the Dollar Would Have Little Impact
From the New York Times’s special “Missing the Point” unit comes “For Euro Zone, a Cyprus Exit Would Have Little Impact”. My response (in the form of an Onion-style story).
Whatever It Takes? Cyprus and the Euro on the Brink
My latest thoughts: Is Draghi really going to save the euro after this week’s events.
Revised TARGET2 Paper & Implications for ECB of Cyprus Exit
I’ve updated my TARGET2 paper. Here is a post with a link to the new paper and a discussion relating to a potential exit of Cyprus from the euro.
Cyprus Deposit Levy: No Panic Yet But Scary Long-Term Consequences
Despite the absence of any panic today at European banks or in financial markets, I believe this weekend’s decision on Cyprus may cause serious trouble in the coming weeks and months. Comments here.