Fundamentally, this proposed merger isn’t about creating a robust and profitable bank. It is all about German politics. Germany would suffer considerable loss of face if its largest bank were forced into the ignominious European bank resolution procedure, with creditors bailed in and shareholders wiped. How the Italians would laugh…
International rating agency Standard&Poor’s has changed its outlook of Romania’s rating from stable to negative while affirming the country’s long- and short-term foreign and local currency sovereign credit ratings at ‘BBB-/A-3’. In reaction, Romania’s Liberal […]
Liberals are peddling an ahistorical nostalgia. The people aren’t buying it. Read here
The Greek people have just lived through a Depression as deep as the Great Depression and considerably longer. It is now the greatest recorded peacetime Depression. Read here
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