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Daily Archives: February 6, 2012

Solving the Financial and Sovereign Debt Crisis in Europe

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Solving the Financial and Sovereign Debt Crisis in Europe by Adrian Blundell-Wignall, OECD Journal, Financial Market Trends, volume 2011, Issue 2.

  • “This paper examines the policies that have been proposed to solve the financial and sovereign debt crisis in Europe, against the backdrop of what the real underlying problems are: extreme differences in competitiveness; the absence of a growth strategy; sovereign, household and corporate debt at high levels in the very countries that are least competitive; and banks that have become too large, driven by dangerous trends in ‘capital markets banking’. The paper explains how counterparty risk spreads between banks and how the sovereign and banking crises are serving to exacerbate each other. Of all the policies proposed, the paper highlights those that are coherent and the magnitudes involved if the euro is not to fracture.”
  • Related postings on financial system

    • CRS – Detention of U.S. Persons as Enemy Belligerents

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    Detention of U.S. Persons as Enemy Belligerents, Jennifer K. Elsea, Legislative Attorney, February 1, 2012. “P.L. 112-81, affirm that the Authorization to Use Military Force (AUMF), P.L. 107-40, in response to the terrorist attacks of September 11, 2001, authorizes the detention of persons captured in connection with hostilities. The Act provides for the first time… Continue Reading

    Obama Administration Releases January 2012 Housing Scorecard

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    News release: “The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the January edition of the Obama Administration’s Housing Scorecard – a comprehensive report on the nation’s housing market. Data in the January Housing Scorecard underscore fragility as the overall outlook remains mixed. Inventories of existing… Continue Reading

    FTC Warns Marketers That Mobile Apps May Violate Fair Credit Reporting Act

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    News release: “The Federal Trade Commission warned marketers of six mobile applications that provide background screening apps that they may be violating the Fair Credit Reporting Act. The FTC warned the apps marketers that, if they have reason to believe the background reports they provide are being used for employment screening, housing, credit, or other… Continue Reading

    Tax Policy Center: Distributional Effects of Individual Income Tax Expenditures: An Update

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    Distributional Effects of Individual Income Tax Expenditures: An Update, Eric Toder and Daniel Baneman, Urban-Brookings Tax Policy Center, February 2, 2012 “Tax expenditures on average raise after-tax incomes more for upper-income than for lower-income taxpayers. As a share of income, special rates for capital gains and dividends and itemized deductions provide the largest benefits for… Continue Reading

    2012 Oil Shale and Tar Sands Draft Programmatic Environmental Impact Statement

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    News release: “The Bureau of Land Management (BLM) has published the Notice of Availability (NOA) of the Draft Programmatic Environmental Impact Statement (PEIS) and Possible Land Use Amendments for Allocation of Oil Shale and Tar Sands Resources on Lands Administered by the BLM in Colorado, Utah and Wyoming. The publication opens a 90-day public review… Continue Reading

    U.S. Treasury, Labor Departments Act to Enhance Retirement Security for an America Built to Last

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    News release: “Following President Obama’s State of the Union Address in which he proposed a blueprint for an American economy built to last, the U.S. Departments of the Treasury and Labor today announced two executive actions designed to help enhance security for millions of Americans saving for retirement. The measures announced today will expand transparency… Continue Reading