Tag Archive for Euro

German Election Finally Gets Messy: “Euro Is More Than A Currency” And Greece “Shouldn’t Have Been Allowed In” – Wolf Richter- Testosterone Pit

No debacle is allowed to interfere with Chancellor Merkel’s efforts to hang on to her job, and debacles get swept under the rug at least until after the elections on September 22. Every time uppity opposition voices stir up some controversy, it&r…

The Spanish Unemployment Powder Keg – Wolf Richter- Testosterone Pit

Unemployment in Spain jumped to 27.2% at the end of the first quarter, up from 26.0% in the fourth quarter. A record 6,202,700 million people were registered on the unemployment rolls that have ballooned by 563,200 over the 12-month period. The number of working people dropped by 322,300 over the same period to 16.6 million. The private…

The Gloriously Ballooning Bailout Bedlam Of Cyprus – Wolf Richter- Testosterone Pit

Bailouts start out small. At first, Cyprus just had a funding crisis; the markets had gotten smart, after years of dousing the country with cheap euros. Not that the risks weren’t there before. But markets opened their eyes. So Cyprus went begging to Russia, and got €2.5 billion in November 2011. That money evaporated without…