Monthly Archives: September 2011

Schuldenschnitt (Haircut)

Ein Schuldenschnitt (Haircut) bei einem EU-Mitglied nach nur 3 Jahren Krise wäre ein Präzedenzfall ungeahnten Ausmaßes, dessen langfristige Folgewirkungen nicht einmal annähernd eingeschätzt werden können. Haircuts von Staatsschulden hat es in der jüngeren Geschichte nur in 2 Situationen gegeben: entweder … Continue reading

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How to reestablish confidence!

All Euroland-countries should clean up their banks at all cost if they want stability in financial markets to return.The only real solution is that European banks are forced to write-down the value of their risk assets to real market prices … Continue reading

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Response to Mr. Walter Koenig

Mr. Koenig responded to my comment in the WSJ with a passionate argument that Greece simply has to change totally before further financial support could be considered. Below is my reply. As you can see from my blog, I totally … Continue reading

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Papandreou and Obama – too soft?

Just like other members of the Greek elites, Papandreou easily outclasses the people sitting with him at the same table in Brussels and/or other European capitals. He gave a speech in Germany yesterday where Merkel and the head of the … Continue reading

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A rescheduling of sovereign debt is the most natural thing in the world!

Here is finally an article which explains that a default and/or debt rescheduling is the most natural thing when a country hits external payment problems (and not the financial Armaggeddon which EU-elites want us to believe). A haircut of sovereign … Continue reading

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Speech to a group of young Greeks

Dear young generation of Greeks, please do not expect a sophisticated analysis of the “Greek problem” from me, or of Greece’s role in Euroland or of the whole world now allegedly being in trouble because of Greece. I simply want … Continue reading

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Recommendations to Greece (and the EU)

McKinsey recently published a 500-page study about the potential of the Greek economy. They focus on 5 major areas: tourism, energy, food, agriculture and retail businesses. Furthermore, they identify 4 niches where Greece could make a name for herself: generics, … Continue reading

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