Greek debt crisis “an absolute nightmare,” says Martin Wolf

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.With the shadow of the 2007/2008 crisis still looming large and growth forecasts downgraded across the board is there anywhere that can provide light on the gloomy outlook? Martin Wolf, FT’s chief economics commentator, gives an evaluation of the global economy in 2012.

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.“Greek drama is now no longer confined to the literature class,” says economist Asha Bangalore of The Northern Trust  Company. “The current Greek economic drama will be enshrined in economic history books and economic/financial policy studies.

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.European Union leaders worked on three fronts over the weekend to resolve the eurozone crisis. They reconvene on Wednesday. But a mere fix will not be enough. Martin Wolf, chief economics commentator, and Philip Stephens, chief political commentator, discuss fiscal federation, the European Central Bank and the UK.

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.Simon Johnson, a professor at the MIT Sloan School of Management, speaks about the vexing issue of too big to fail at the Atlanta Fed’s 2011 Financial Markets Conference. According to Johnson, actions taken during the financial crisis have made the problem even worse.

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.Greece’s second bailout has been agreed, but a leaked eurozone report suggests the heavily indebted country will need yet another. John Authers, FT’s Long View columnist, discusses with Martin Wolf, FT’s chief economics commentator, whether this latest package can possibly work.

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.John Authers, FT’s Long View columnist, and Martin Wolf, FT’s chief economics commentator, on whether Mario Monti and Mario Draghi can save the eurozone.Click here or on the image below to watch the video.

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.Italy’s credit rating has been downgraded by ratings agency Standard & Poor’s and Greece is still trying to persuade its international lenders to release €8 billion of aid. Martin Wolf, FT’s chief international commentator, analyses the latest eurozone problems with Daniel Garrahan.

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.While the debate about the U.S. debt ceiling is taking place, Société Générale ( via Business Insider – Clusterstock) is of the opinion that a downgrading of the country’s sovereign debt is just a matter of when and how fast interest rates on its borrowings rise.