Tag Archive for Evans Pritchard

Debt crisis: Europe’s democracies must not subcontract their destiny to the Bundebank -Evans-Pritchard, Telegraph

By Ambrose Evans-Pritchard Europe has lit the fuse on an economic and financial bomb. The rescue package for Spain cannot plausibly be contained to €100bn once it begins, given the subordination of private creditors and collapse of global confidence in the governing structure of monetary union. Italy must guarantee 22pc of the bail-out funds, even though it…

The week that Europe stopped pretending – Ambrose Evans-Pritchard

On a single day, the European Commission said monetary union was in danger of “disintegration” and the European Central Bank said it was “unsustainable” as constructed… Joschka Fischer, Germany’s former vice-Chancellor, said EU leaders have two weeks left to save the project. “Europe continues to try to quench the fire with gasoline – German-enforced austerity.…

Greek euro exit looms closer as banks crumble – Evans-Pritchard- Telegraph

Economists warned that the Greek financial system could crumble within weeks or days unless the European Central Bank steps up support. President Karolos Papoulias told party leaders that banks had lost €700m in withdrawals on Monday alone as citizens rush to pre-empt capital controls and a much-feared return to the Drachma. He cited central bank…