Posted To: MBS Commentary
Europe is a tangled mess of politics and bureaucracy that puts anything else to shame. Why do I say this? First, because it’s true. Second, and more importantly, I need to preemptively cover myself in case any of the following isn’t accurate. No one can afford to “misremember” vital details, you know. Definitions: Europe : it’s a continent European Union or EU : 28 states, not all of whom use the European currency, but who still are unified politically and economically in strange and complicated ways European Commission : the government of the EU (28 states) Economic and Financial Affairs Council or Ecofin: Full 28 state meeting of finance ministers to basically police each others financial and economic affairs (oddly enough!). Eurozone : the 19 states that use the Euro…(read more)
Via:: MBS Day Ahead: Important 48 hours for Europe; US Bond Markets Thinking About Support
