Economia
Phillip Bagus explica: "... Today's banks are not free-market institutions. They live in a symbiosis with governments that they are financing. The banks' survival depends on privileges and government interventions. Such an intervention explains the unusual stock gains. On Wednesday night, an EU summit had limited the losses that European banks will take for financing the irresponsible Greek government to 50 percent. Moreover, the summit showed that the European political elite is willing to keep the game going and continue to bail out the government of Greece and other peripheral countries. Everyone who receives money from the Greek government benefits from the bailout: Greek public employees, pensioners, unemployed, subsidized sectors, Greek banks — but also French and German banks.
Europeans politicians want the euro to survive. For it to do so, they think that they have to rescue irresponsible governments with public money. Banks are the main creditors of such governments.
Mais
- Ler Os Outros: Choices For Greece - Tyler Cowen
"(...) If it left the euro zone, Greece could reap the substantial benefits of a currency depreciation, but doing so would also set off huge runs on banks. And the country has no alternative paper currency ready for use. If you are a euro optimist, you...
- Ler Os Outros: Sobre A Grécia
Dois excelentes artigos sobre a situação na Grécia. No primeiro artigo, publicado no WSJ, os Professores John Cochrane e Anil Kashyap referem a propósito da proposta alemã de que os bancos que "the only way to get banks to "voluntarily"...
- A Grande Estagnaçaõ - A Bomba Da Dívida
Betting with Trillions Prison of Debt Paralyzes West By Cordt Schnibben Be it the United States or the European Union, most Western countries are so highly indebted today that the markets have a greater say in their policies than the people. Why...
- A Nova Política Monetária Do Banco Central Europeu
The euro zone crisis Bank door QE Dec 12th 2011, 13:09 by Buttonwood THE grand bargain postulated before last week's fruition - that the euro zone governments would agree a fiscal pact in return for the ECB buying lots of government bonds - hasn't...
- É A Dívida Pública, Estúpido! Parte Ii
Um continente de más idéias: John Cochrane discute os problemas de endividamento público na Europa e repercussões sobre o Euro: "Conventional wisdom says that sovereign defaults mean the end of the euro: If Greece defaults it has to leave the single...
Economia
Bancos e governos
Phillip Bagus explica: "... Today's banks are not free-market institutions. They live in a symbiosis with governments that they are financing. The banks' survival depends on privileges and government interventions. Such an intervention explains the unusual stock gains. On Wednesday night, an EU summit had limited the losses that European banks will take for financing the irresponsible Greek government to 50 percent. Moreover, the summit showed that the European political elite is willing to keep the game going and continue to bail out the government of Greece and other peripheral countries. Everyone who receives money from the Greek government benefits from the bailout: Greek public employees, pensioners, unemployed, subsidized sectors, Greek banks — but also French and German banks.
Europeans politicians want the euro to survive. For it to do so, they think that they have to rescue irresponsible governments with public money. Banks are the main creditors of such governments.
Mais
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- Ler Os Outros: Choices For Greece - Tyler Cowen
"(...) If it left the euro zone, Greece could reap the substantial benefits of a currency depreciation, but doing so would also set off huge runs on banks. And the country has no alternative paper currency ready for use. If you are a euro optimist, you...
- Ler Os Outros: Sobre A Grécia
Dois excelentes artigos sobre a situação na Grécia. No primeiro artigo, publicado no WSJ, os Professores John Cochrane e Anil Kashyap referem a propósito da proposta alemã de que os bancos que "the only way to get banks to "voluntarily"...
- A Grande Estagnaçaõ - A Bomba Da Dívida
Betting with Trillions Prison of Debt Paralyzes West By Cordt Schnibben Be it the United States or the European Union, most Western countries are so highly indebted today that the markets have a greater say in their policies than the people. Why...
- A Nova Política Monetária Do Banco Central Europeu
The euro zone crisis Bank door QE Dec 12th 2011, 13:09 by Buttonwood THE grand bargain postulated before last week's fruition - that the euro zone governments would agree a fiscal pact in return for the ECB buying lots of government bonds - hasn't...
- É A Dívida Pública, Estúpido! Parte Ii
Um continente de más idéias: John Cochrane discute os problemas de endividamento público na Europa e repercussões sobre o Euro: "Conventional wisdom says that sovereign defaults mean the end of the euro: If Greece defaults it has to leave the single...