Tag Archive for Sovereign Debt

“The Wrong Austerity Cure” by Laura Tyson | Project Syndicate

BERKELEY – Fiscal profligacy did not cause the sovereign-debt crisis engulfing Europe, and fiscal austerity will not solve it. On the contrary, such austerity has aggravated the crisis and now threatens to bring down the euro and throw the global economy into another tailspin. In 2007, Spain and Ireland were models of fiscal rectitude, with…

Europeans Flock To Buy New York Real Estate – International Business Times

Affluent citizens from France, Britain and other European nations who are concerned about their euro-denominated assets as the euro zone’s sovereign debt crisis worsens are flying to buy one of the world’s most stable investments: Manhattan real estate… With the island’s limited supply and international prestige, New York’s condo values — underpinned by the strong…

New York City Budget Balanced With Help From Wall Street – Bloomberg

New York City balanced its $68.7 billion spending plan for fiscal 2013 with revenue from $7.3 billion in Wall Street firms’ first-quarter profits, state Comptroller Thomas DiNapoli said. New York Stock Exchange firms bounced back after losing $2 billion in the fourth quarter of 2011, DiNapoli said in his yearly analysis of the city budget……

Where Are Oil Prices Headed?

The uncertainty looming around worldwide economies sent oil prices sinking below $90 a barrel yesterday (Wednesday), a level not seen since October of last year.

Benchmark crude slid $1.95 Wednesday to finish the day at $89.90 per barrel.

The decline came on the heels of several weeks of slipping oil, sparked by a plethora of less than stellar economic reports. The concerning data mostly involved Europe’s ongoing sovereign debt saga.

Oil gained 0.5% in early afternoon New York trading Thursday, but the reasons for the rally were unclear.

“You don’t know if this is just a short-covering rally or the start of a more significant rally,” Andy Lebow, an oil analyst with Jefferies, told The Wall Street Journal. Lebow said that progress in the talks between Iran and Western powers about Tehran’s nuclear ambitions could have spurred Thursday’s price reversal.

If the gain isn’t maintained, however, prices could head closer to $85 a barrel.

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