Germany
Markets Remain Extraordinarily Volatile
May 7, 2010
The dollar advanced 2.0% against the yen and 0.9% versus sterling but has slipped back 1.2% against the euro, 0.8% versus the Aussie dollar, 0.6% relative to the Canadian dollar and Swiss franc and 0.3% against the kiwi. Compared to end-April levels last Friday, the dollar has strengthened over 4% against the euro and pound, […] More
Germany’s Peculiar Role in the Present Euro Fiscal Crisis
April 28, 2010
The Greek debt problems is exacting disproportionate damage to the common currency’s reputation by demonstrating a lack of political cohesion to tackle a problem like this, by confirming that a single monetary policy cannot coexist with sixteen fiscal policies, by generating fears that a Greek default is a matter of when, not if, and by […] More
A Benign Market Environment for Economic Recovery
April 26, 2010
Yes, you read my headline correctly. This certainly has not been true about Greece, and financial markets in other peripheral members of the common currency bloc are at risk. But the statement does fit the situations pretty well for key advanced economies such as the United States, Germany, Britain, and Japan. At noontime in New […] More
A Soft Yen Policy From the New Japanese Finance Minister
January 7, 2010
In his first press conference, Japanese Finance Minister Kan talked about coordinating with the Bank of Japan to achieve a softer and “more appropriate” yen level. This stance contrasts with the strong yen aspirations of Kan’s predecessor. Stock and bond transactions generated a Y 199 billion inflow last week after a Y 93 billion outflow […] More
