Right now there’s still considerable uncertainty surrounding the future of the European Stability Mechanism, not least because deliberations of the German Constitutional court will likely delay ratification by Germany’s Bundestag. Read More

Gamma-Keystone via Getty Images A crowd of shareholders gather in front of the Darmstaetder and National Bank in Berlin, in 1931. Creditanstalt in 1931, like Spain’s Bankia now, was created by mergers with lenders weakened by toxic loans and capital shortfalls. After Creditanstalt failed, the government stepped in to prop it up, fatally hurting its [...]

From my partner, ACG Analytics: Washington Week Ahead: June 11th – June 15th Major Actions This Week: White House On Monday, President Obama will have a series of interviews with local television stations. On Thursday, the President will assess the rebuilding progress at Ground Zero with Governor Cuomo and Mayor Bloomberg. Senate On Monday, the [...]