Portugal

The Sovereign Debt Crisis in Emerging Markets (Part I)

What happened? In 2008, banks stopped lending as they were forced to use capital to absorb losses from deteriorating investment portfolios. When lending dried up, business struggled, industrial production contracted, and jobs were lost. Job loss drove the consumer into…

Germany Structuring Path to Euro Exit for Italy, Greece

German Chancellor Angela Merkel’s party voted today to provide a means for Euro-zone markets to voluntarily exit the Euro without losing access to the EU’s free trade zone. This move confirms that Germany is not willing to save the Euro…