A Model For Failure
Greece is unique as a model for failure within the European Monetary Union. It represents a new species of financial crisis, accurately portrayed by...
July 9, 2015
Ciao Ciao Euro
As Wall Street rushes to “increase the probability” that Greece leaves the Eurozone, a “Grexit” is becoming an increasingly consensus view. This should...
June 2, 2012
Pandora’s Box
In a recent post titled Easy Money, we shared our concerns around capital flight in China. The outflows appear to be accelerating and...
November 16, 2011
The Five Stages of (Greece) Grief
We thought this illustration from JPM’s Michael Cembalest, was worth a look given renewed talk of a Greek Bankruptcy this morning. Axel Weber’s...
July 11, 2011
History in the Making: Lessons and Legacies of the Financial Crisis
As a follow up to our first piece on Monetary Regimes and Inflation, we thought we’d revisit an earlier post that outlined Niall...
June 15, 2010
What Did Not Happen in the EU Bailout
We know! Everyone is tired of hearing about the mess Europe got itself into. But the media appears to be missing the bigger...
May 12, 2010
Remain Calm
As we discussed in our Q4-09 Broyhill Letter, it appears that the EU’s initial plan of action (see illustration below) was not exactly...
April 30, 2010
Greece: Short-Term Fix, But…
We’ve been quiet on the Sovereign Risk front for some time, as it’s been well covered, but thought we’d share this brief update...
April 23, 2010
Your Usual Table, Mr. Papagiorgio?
It would appear that European leaders are back at their usual table. Speaking at the Bookings Institute before meeting with the US administration, Greek...
March 10, 2010