See what we did there? Spain and Italy tied 1-1 yesterday on the third day of the European Championships, the soccer tournament that will provide backdrop to the region’s unfolding financial melodrama. (Seriously, who’s going to chart market reaction to Greek goals?) Anyway, the score was fitting, as the two nation’s creditworthiness appears to be Read More
And you can expect a lot of red headlines in the days and weeks to come: Fitch Ratings took Spain’s sovereign debt down three notches today, as the cost of saving the nation’s enfeebled banking sector has reduced the government’s ability to respond to crisis and increased its vulnerability to contagion from the Read More
With the June 17 elections likely to determine Greece’s eurozone future, you’d expect tempers to run high. Not cooling anyone’s jets was news that HSBC was testing its Athens ATM machines for compatibility with drachma of all shapes and sizes, or a former Lehman Brothers banker suggesting Greece could save Europe by serving as Read More
That means you, Greece.
Michael Tory, former head of U.K. investment banking at Lehman Brothers, just published an op-ed in the Financial Times suggesting that what European policymakers need most right now is not to pull the region’s tenuous economy back from the ledge but to get down on their knees and take a good Read More