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Posts Tagged ‘LTRO’

Greek Option: NOT Growth vs Austerity

Posted by Larry Doyle on May 8th, 2012 8:07 AM |

Growth vs austerity.

Who would not choose to increase economic growth as the path to future economic prosperity.

The election results in France and Greece over the weekend were a clear repudiation of the austerity packages negotiated earlier this year as the precursor for further German support and the European Central Bank’s LTRO (long term repo operation). That financing directed at European banks was little more than another version of the shell game that has been orchestrated by Bernanke and Geithner on this side of the pond.  (more…)

Who/What is Driving European Sovereign Spreads?

Posted by Larry Doyle on April 27th, 2012 9:11 AM |

The center of our global financial crisis squarely rests upon the Euro-zone in general and a number of peripheral sovereign states specifically. The movement in spreads within this market are often vicious.

The  European Central Bank has thrown the kitchen sink in the form of its 3-year LTRO (long term refinancing operation) at the massive debt problem. The LTRO aside, do you get the sense that there is a far greater force at work behind the scenes driving these markets? I do. Who and what are really driving spreads within the Euro-zone?

Let’s navigate as the Journal of International Money and Finance addresses this critically important topic in its April 2012 issue.  (more…)






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