Saturday, April 18, 2015

Saturday roundup (04-18-15)

Global finance officials see rising risks to recovery, including possible Greek debt default (The Associated Press)

Europe ready for Grexit contagion as Athens gets closer to Russian cash: Mario Draghi sends warning shot that Greek threats to unleash mayhem will not give way to leniency by Ambrose Evans-Pritchard (The Telegraph) Schäuble welcomes Greek-Russian gas deal: The German finance minister has welcomed the possible gas pipeline deal between Russia and Greece. But he expressed skepticism about an agreement on Greece's debt when EU finance ministers meet in Riga next week. (Deutsche Welle)

ECB’s Vasiliauskas Says Summer is Limit for Greek Emergency Cash (Bloomberg)

ECB’s Draghi rejects talk of Greek exit [The Wall Street Journal via] (Marketwatch) Draghi Says Urgent Need for Greece to Strike Bailout Deal (Bloomberg)

How sleepy Finland could tear apart the euro project: Europe's biggest cheerleader for austerity is heading to the polls, and its stance on Greece threatens to catalyse a break-up of the union (The Telegraph)

US Treasury chief Lew urges Greece to speed up reforms (The Associated Press)

Markets face new threat as US Federal Reserve ponders interest rate rise: Janet Yellen’s decision will have global consequences - and the end of ultra-low rates could mean meltdown for indebted countries (The Observer)

Elizabeth Warren: 'There were strong rules in place to level the playing field' (The Examiner)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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