Author Archives: Tony Yates

A new dilemma for David Cameron. On the one hand, he will want to make a show of objecting to the EU using the European Financial Stabilisation Mechanism [for which the UK would most likely be on the hook] to … Continue reading →

Willem Buiter and co at Citi [no link, since it’s a proprietory research note] propose to transfer regulation and ownership of Greek banks out of the Greek state, and into a common entity owned and controlled by the remaining Eurozone … Continue reading →

Much of the moralising about the crisis seems to miss a couple of points. First, the parties to the struggle over resources (that’s all this is) are not single people.  But they are often discussed as though they were.  They … Continue reading →

There’s an echo in Syriza’s presentation of the options to the Greek people in the SNP’s approach to the independence referendum in September 2014. The SNP campaigned promising a plan A of keeping Sterling, (because they knew the Scots were … Continue reading →

Whether or not partial or whole Grexit prompts contagion will depend on the forces in favour of a transfer union amongst the remaining members.  Syriza has been talking up the risks of contagion, describing it as a near certainty, because … Continue reading →

Coeure’s comments that a Greek exit from the eurozone can ‘no longer be excluded’ is exciting much comment, and shock that it contrasts with previous declarations that euro membership was irreversible. I don’t know why anyone took the irreversibility so … Continue reading →

Some disorganised thoughts about what is going on. It baffles me why Krugman/Paul Mason and others on Twitter view the referendum as logical, or a masterstroke.  It will be a referendum on an out of date document.  That was not … Continue reading →