“Severing ties with sovereigns is easy. Happens all the time here, when a client forgets to take it off…” – anonymous guillotine operator, Paris 1789 Advertisements
Knowing that much depends on confidence on the side of the markets, the Bank of Spain took a much protracted measure on February and lifted a bit the veil that covers the assets of Spain’s financial system. Some details were … Continue reading
Posted in Banks, Debt, Growth, Toreador
Tagged debt, financial reform, growth, real estate, reform, rescue, saving banks, spain
OK, you got me: I know I am by my own rules supposed to start these posts with a (supposedly) funny cartoon, but it so happens that drawing takes a lot of time. Sometimes it cannot be found and, worse, … Continue reading
From Egypt to Italy, autocrats in the Mediterranean fringe are being challenged by risings dubbed by the media the “Twitter revolutions”. I, for one, have serious doubts about the decisiveness of Twitter and the social networks in organizing these movements.
I still have to be convinced that more than 1% of the population understands the concept of risk. That’s for individuals. Public opinion is an entity of very small rationality, and no coherence, memory nor any or the other attributes … Continue reading
Once upon a time, a leprechaun found a cauldron full of gold coins in the woods. A troll explained to him that whoever found it was free to take the gold in it, but for each coin he spent, he … Continue reading