The Basel-accord are frequently paraphrased in the debate around banking stability and its third step, Basel III, is seen as a set of rules and regulations that once and for all will avoid future financial panic.  But as always, this can be interpreted as mere smoke screens to avoid financial system collapse now – but…

Over the last couple of years we have been tracking the various bail-out schemes concocted by ingenious Eurocrats. It is truly fascinating to observe these people get entangled in one lie after another; always trying to resolve the old lie with a new one. The hard cold truth is of course that Europe is bankrupt!…

With a country in disarray and that has defaulted not only once but twice during the last 24 months, one might ask oneself how on earth T-bill funding is still possible for Greece. Yesterday Greece again had a successful 6 month T-bill auction, with a steady yield and 1.70 bid-cover ratio, similar to previous auctions….