In the Garden of Credit: Signs of Life and the Prospects for 2012
Liquidity has dried up in Europe. Banks in the greater EU are unable to refinance their unsecured bonds that are approaching maturity. Moody’s cut the credit rating of French banks last week, and it is expected that France and other nations’ credit rating will be cut...The Incubation of a Crisis: Dum Spiro Spero in the Life of Swap Lines and Hybrid Accounting
In the last few days the markets tried to breathe a breath of new life and optimism in the midst of developments in the EU and the initiatives taken by central banks. It has been our position that the EU is suffering from two deadly problems, namely: cancer (public...The Euro Zone Meets Gilgamesh and the Music Plays on: Rameau’s Hippolytus Act Two
Jean-Philippe Rameau’s compositions stand out as the epitome of Rococo style. His opera “Hippolyte Et Aricie” was the first work to which the term “Baroque” was applied. The opera is based on Racine’s play Phedre (dated 1677) with...On Central Banking Dogmas: The Euro in a Rear-View Mirror Perspective
In March 1914, the Federal Reserve Bank (Fed) started its operations in the US. Within fifteen years the depression was taking root in the US. Seventy years later, the European Central Bank (ECB) was starting its operations and in a twist of fate, in about ten years...Sign Up for Our Publications
