…Calmly observing the changing world

As surely as the dollar seems doomed to decline in status, one might assume that the Euro would be preparing to take its place. And while some in Europe would love for this to happen, the problem with the Euro is simply that it’s impossible to set a European-wide policy that works for the various [...]

We’ve been watching Greece teeter on the brink for what now seems like an eternity. In another trend, we’ve been watching Fitch attempt to get tough with its ratings, in an effort to brand itself as the good rating agency.
Both trends continued today, as Fitch downgraded Greece’s debt rating to BBB+. The Hellenic Republic now [...]

Just a quick post detailing the relentlessly rising spread among Euro-denominated bonds. I believe this is an extremely important development and I hope to have a new sidebar with this information soon.  For a previous look at the situation, see Greek Ire.
Remember, all of these European nations are selling bonds in Euros. The only reason [...]

If troubles in Iceland reveal our civilization fraying a bit around the edges, the Greek uprisings do the same with a slightly more ominous overtone. While the Icelanders have kept their cool even while protesting their government, the Greeks are given to a little more passion. Today, Athens is no longer a pillar of our [...]