Monday, December 12, 2016

Monday roundup (12-12-2016)

ECB's Coeure - deflation risks largely disappeared but stimulus needed (Reuters)

Italy plans Monte dei Paschi di Siena rescue if private bailout fails: State would inject billions of euros into struggling bank if capital-raising plan does not work, says finance ministry official (The Guardian) Italy ready to bail out Monte dei Paschi if needed: Treasury source (Reuters)

Greece Heads Toward New Crisis in Debt Saga as Support for Tsipras Slumps: The ruling Syriza party is considering calling snap elections in 2017, as it loses hope of winning concessions on debt relief or austerity from Greece’s creditors (The Wall Street Journal)

Greece faces permanent crisis as IMF warns bail-out plan 'simply not credible' (The Telegraph) Greece doesn't need more austerity, cuts went too far: IMF (Agence France Presse)

Report: Volkswagen's Dieselgate Criminal Settlement To Be Decided By [United States President-Elect Donald] Trump's Hardliners (Forbes)

Trump postpones announcement on how he will avoid conflicts of interests (The Washington Post)

The Roots Of The Democratic Debacle: The defeat of Hillary Clinton was a consequence of a political crisis with roots extending back to 1964. The warning signs should have been obvious. (The Huffington Post)

Unpredictable Trump has 'a lot of Democrat' in him, says GOP strategist (CNN) What Donald Trump and Democrats in Congress have in common (CBSNews)

AstraZeneca to cut 700 jobs across USA [Dec. 9] (USAToday)

     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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