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European credit crisis

Analysis and Comment (5)

Not at the races. Lefteris Pitarakis/AP

France’s economic sickness might defy a cure

The news from France has not been good over the last few years. Poor economic growth, stubbornly high unemployment, plant closures on the rise, strikes (not new, really), voter disenfranchisement and the…
The European Central Bank’s long-term refinancing operations have reduced acute liquidity problems in the banking sector, but the situation in the Eurozone remains fragile. AAP

The ECB’s long-term refinancing operations: a solution to the debt crisis, or doomed to fail?

In November 2011, the Eurozone crisis reached a climax with interest rates on sovereign debt of Eurozone problem debtors soaring. Fear of sovereign defaults spilled over into the interbank markets as Eurozone…
Demonstrators in front of Standard & Poor’s credit rating agency offices in Paris 15 January 2012. AAP

Why we should be wary of ratings agencies

For decades, credit ratings agencies were largely ignored by the masses, but in recent months they have continued to hit the headlines again and again. The big three (Standard & Poor’s, Moody’s and…