We are possibly entering end game territory in the coming months. The news from bond markets about Greece resembles bulletins about Alpine peeks, not sovereign debt priced within reasonable parameters. Greek three-year bond yields jumped to over 22 per cent this week. Such surreal yield levels are pricing in the restructuring option to […]
Posted by Bastian Jens
British Foreign Secretary David Miliband was right in his recent LSE speech: there is nothing inevitable about globalization. The current crisis puts its continuation into doubt, as protectionist calls grow louder and the policy response by major international players remains somewhat confused. It is important to recognize that the current juncture is crucial, and that […]
Posted by Dimitris Tsarouhas
There is no doubt left: it is the worst crisis of global capitalism, at least since the 1930s. The International Monetary Fund forecasts the harshest global recession of the last sixty years. The “masters of the universe”, Wall Street’s golden boys and their indolent regulatory authorities, could have hardly made a worse mess.
Captive to the […]
Posted by George Pagoulatos