Will use both risk insurance and SPV models simultaneously IMF may participate in further EFSF enhancements Italy letter to EU pledges action by November 15 Looks like can-kicking and vague promises, two staples of EZ policy-making…
Reuters reports that the letter Berlusconi has written to the EU is not a roadmap on planned economic reforms. The timetable and details will be decided by Berlusconi, according to his Industry Minister. I suspect the EU wanted a bit … Continue reading
IMF deputy MD Shafik says that advanced economy central banks need to be prepared to use unorthodox measures to support growth. The IMF is not worried about inflation in advanced economies, Shafik says. The IMF does not project a double-dip … Continue reading
Expulsion would not be a an appropriate step Sanctions for wayward economies should be automatic and prearranged; they should kick-in early Six-pack reforms a step in right direction; need an institution to guard the common interest Yum. Six-pack…
Met with Van Rompuy, Barroso before the summit, Bloomberg reports Italy is the subject of scorn today as they propose to phase-in a 2-year hike in the retirement age over 15 years…Not exactly biting the bullet in Rome.
All voluntary, of course Rescue fund decisions are practically ready EUR/USD has bounced as far as 1.3855 from lows of 1.3798. We’ trade now at 1.3837, consolidating earlier losses.
Time for EU leadership to end sovereign debt crisis Papandreou speaks on his way into the summit.