Posts Tagged ‘default’

  • Everyday economics and sovereign debt

    Fiscal Policy: What We Need to Know About the Debt Ceiling

    Sep 26, 13 • 1075 Views • No Comments

    Like me, you might have thought that the US has not yet reached its debt limit. But actually it has. The story is unimaginably complicated. From what I can discern in a Congressional Research Service report, for the last 9 months or so, the Congress created......  [read more]

  • Violating the sanctity of contracts, Argentina has again defaulted on her sovereign debt and diminished her ability to borrow.

    Sovereign Debt: Is Argentina’s Default Legal?

    Sep 13, 13 • 1221 Views • No Comments

    Does Argentina still owe bondholders the money? The US Supreme Court might decide. It all began with what scholars Rogoff and Reinhart called the lending boom of the 1990s. Enjoying an influx of dollars, Argentina borrowed and grew and prospered…for......  [read more]

  • euro zone map

    Luxembourg Yogurt?

    Oct 13, 12 • 549 Views • No Comments

    For this Greece update, some past and current information… Soon after the euro was launched on January 1, 2002, a €76,000 bank heist near Athens became the first major euro robbery. Near Athens also, with the new currency launch, it took 3 staff......  [read more]

  • The US is again hitting its debt ceiling.

    Some Greek Math

    Aug 24, 12 • 589 Views • No Comments

    With a euro zone update on Greece unfolding (they might lease some islands but we’ll get to that in a moment), here is some Greek math that Michael Lewis presents in Boomerang. Referring to the deficit, during October 2009, the Greek government thought......  [read more]

  • euro zone map

    Exit Plans

    May 24, 12 • 658 Views • No Comments

    A British charitable trust has offered a hefty reward for the best eurozone break-up plan. Their goal? Improve and influence policy though a 250,000 pound ($393,430) incentive prize. As I read through the finalists’ plans, the unfathomable complexity of......  [read more]