Europe

June 30, 2016

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Brexit — What Does It Mean?  The British electorate has chosen to leave the European Union.  This will not be instantaneous, but will take a few years to be completed. Some people view this as a political issue: Britain is...
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June 16, 2016

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Polls, Polls, Everywhere, and Not a Drop of Certainty Markets are possessed by Brexit fears.  The market selloff that began last week may have been prompted by dramatic poll data showing the “leave” vote pulling  ahead of support by Brits...
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June 09, 2016

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Time For Bargain-Hunting In Europe?On Sunday and Monday we heard about two new polls in the U.K. — both showing the “leave” vote pulling ahead of the “stay” vote in the contest to determine whether Britain will remain in the...
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May 26, 2016

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Executive Summary 1.  Ordinary people aren’t very ordinary.  Professor Deirdre McCloskey’s recent piece in The Wall Street Journal got us thinking about the roots of western prosperity — and suggested that current nervousness about populist movements around the globe may...
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February 11, 2016

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Europe’s Banks Are Showing Cracks  We’ve been expressing our worry about the health of the European banking system for years.  Starting in 2012, many European banks relied on “CoCos” — contingent convertible bonds — in an attempt to shore up...
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