BRUSSELS — Throughout Europe’s debt crisis, northern European leaders have often said they will not stand for taxpayers having to fork out for other countries’ problems, and the notion of “taxpayer-funded bailouts” has taken root.
Yet despite three-and-a-half years of debt and banking turmoil, with bailouts totalling more than 400 billion euros, northern eurozone taxpayers have not actually lost a cent.
Silvio Berlusconi may have the last laugh — at Europe’s expense.
Once the subject of German Chancellor Angela Merkel’s barely suppressed titters, the former Italian leader roared back from the political wasteland in yesterday’s election, blocking the formation of a new Italian government and fracturing the eurozone’s brittle newfound stability.
The situation is significantly worse than the mood. But the eurozone crisis is far from over. It’s wishful thinking to expect otherwise
WIESBADEN, Germany — The German economy was hit hard by the eurozone crisis in the final quarter of last year, shrinking more than at any point in nearly three years as traditionally strong exports and investment slowed, the Statistics Office said on Tuesday.
As we prepare to bid farewell to 2011 and welcome 2012, it’s undoubtedly important for investors to start the new year off with as much knowledge about the markets as possible. A great visual I saw over the holiday weekend that captured the effects of the financial crisis was this one from Nomura Research Institute, posted by Joe Weisenthal at Business Insider:
Panic is spreading says Steen Jakobsen, chief economist at Saxo Bank. Steen eyes the perfect storm including a potential "Chapter 11" call for European banks.
This morning there is too much bad news.