What the end of the euro looks like

The euro was always a political project, rather than merely an economic one. With both a formal fiscal union on the one hand and a…

What just happened to the gold price?

The gold price plunged over 7% in short order from 11 June as the prospect of interest rate hikes in the United States that are…

The euro’s TARGET2 is revealing what’s really going on inside the euro area

While the European Central Bank (ECB) has backstopped the governments of the weaker euro area economies, and thereby their banks, it hasn’t been able to…