New Governments in Greece and Italy Could Contain Damage
As political casualties of the European sovereign-debt crisis mounted this week, it’s easy to understand why financial markets panicked. But all hope is not yet lost. The resignation of Georges...
View ArticleExcessive Leverage: The Root of All Financial Crises
Today’s European sovereign-debt crisis has much in common with other seemingly unrelated crises of the past decade. The common element? Too much leverage. Let’s take a look at the last three major...
View ArticleSovereigns Look Seductive in Europe’s Periphery
Jorgen Kjaersgaard (pictured) and John Taylor Investment-grade bonds issued by nonfinancial firms in Europe’s peripheral countries have had a great run but now look expensive. In our view, government...
View Article
More Pages to Explore .....
