Might Draghi Know Something?
The rumors of the ECB rate cut had become rather ubiquitous in the past few weeks. Confidence in the European economy has been indirectly proportionate to those rumors, particularly as Germany seems to be heading south again after a short-lived reprieve. France is just a downright mess. But the rate cuts that were just announced .. read more
Liquidity Perspective, Europe
Ever since the first warning of crisis in August 2007, indications of global banking health and liquidity have been turned upside down. Nowhere is that more evident than European banking, especially in the periphery. Observers have been looking for lower interest rates and reduced reliance on the ECB as evidence of “normalcy”. Starting with the .. read more
Is Cyprus A Tipping Point?
Could tiny Cyprus with a population of less than 1 million be the undoing of the Euro experiment? It seems surreal to think that such a tiny country, representing less than a quarter percent of Euro GDP could be the trigger for the unraveling of an entire continent’s currency but it is often small countries .. read more
September Song
By Brian Cronin Before starting off on another trip around Europe, let me remind regular readers that about a month ago in my essay on Spain, “The Impossible Dream” (which you will find in Alhambra’s archives if you didn’t keep it), that Spain has 17 semi-autonomous regions who run their own finances, and for some .. read more
A Bridge Too Far
By Brian Cronin: Continuing my tour around Europe, after a look at Spain and Italy, this week it’s Germany’s turn. Germany, as a nation, has had a checkered history as we know all too well. Two hundred years ago, it was a collection of small kingdoms. In 1797 Joseph Haydn composed the music for what .. read more
Alhambra Research Note: Update on Greece, the Euro, & Global Recession
By John L. Chapman, Ph.D. June 20, 2012 Washington, D.C. The Greek elections passed without incident on Sunday, and the so-called “center-right” party, New Democracy, captured 30% of the vote in a seven-party contest, and hence the right to form a government. President Obama was one of many political leaders who hailed the result as .. read more
Another Fine Mess
From friend of Alhambra Brian Cronin: A question that comes up frequently in discussions about investments and the future course of the stock market is why the European debt crisis is so important and why investors should pay attention. The easy answer is that in the current state of financial affairs, everything is interconnected and .. read more
What Really Matters
So here I sit on a Sunday afternoon in mid June awaiting the results of an election in a country with an economy about the same size as Dallas-Ft. Worth. Greece votes today and the story is at the top of all the major financial publications with real time updates on the exit polls. We .. read more
