Europe has been recently been rocked by problems in Spain’s Banking sector as Spain’s central bank was forced to seize a Priest led  Bank “CajaSur” which was running huge losses.Spain has been facing increasing internal stresses led by a burst of the housing bubble and 20% employment.Its weak “Cajas” which are socially run banks are […]

The Greek Contagion continues to negatively affect the world markets and the Euro.Despite a short covering rally in the Euro last week,it has not managed to hold the level and has continued its renewed slide.The Contagion Chronology of the European crisis makes for interesting reading.Asian markets which had not fallen much except for China also […]

The State of  Management of some of the European banks would seem funny  if it was not such a serious matter.According to Bloomberg ,Bank CajaSur which has almost 1% of Spain’s total bank assets was run by the Catholic Church.The new chairman whose primary job is that of a priest started his chairmanship by reading […]

A Chronology of the Greek Contagion 1) Markets get spooked by the Greek crisis ; IMF/EU  Bailout  deemed insufficient 2) European markets and risky assets take a might fall 3) Dow crashes 1000 points in 15 minutes 4) The European Bazooka is Unleashed with a lot of Fanfare;Merkel and Sarkozy declare “war” on speculators 5) […]

One of my theories is that a lot of distortions and opportunities for arbitrage that we are seeing in the world today is because “Labor is not Globalized while Capital and Trade are “.However the Restrictions on the “Globalization” or in other words Free Movement of Labor is being reduced through the following trends Improvement […]

As I have been writing in my earlier posts , EU leaders are continuing to put the blames of the EU debt crisis on “speculators” and the “Market” rather than themselves.They are not willing to see the core problems with the constitution of the EU itself where the monetary policy is common while the fiscal […]