News
Reuters | Iceland voters reject plan to repay bank debt
Voters in Iceland issued a resounding “no” in a referendum on whether to approve a renegotiated deal to compensate Britain and the Netherlands over the 2008 collapse of Icesave Bank, leaving the issue to be settled in court.
Telegraph | Britain will take Iceland to court over £2.3bn bail-out
The Government is preparing to take Iceland to court to demand it repay every penny of the £2.3bn Britain lost when the Icelandic banking system collapsed.
CNN: Money | No rate change will 'dampen' the dollar
The fate of the U.S. dollar for the remainder of the year will hinge on the Federal Reserve's actions, as analysts try to look into their central bank crystal ball for clues about the Fed's future monetary plans.
Econ Comments
NRO | How to Narrow the Fed’s Mandate
Target nominal-GDP growth.
Blogs
Café Hayek | Open Letter to Mike Norman
"The government exchanges dollars for those Treasuries. Holders of the debt give back their Treasuries to the gov’t in exchange for dollars and Voila! no more debt."
Curious Capitalist | Another PIIG to slaughter: What's next for Europe?
It came as no surprise to anyone following the ongoing euro zone debt crisis that Portugal on Wednesday finally asked the European Union for a bailout. Pressure on the country's beleaguered leadership had been intensifying for weeks, as it became harder and harder for the cash-strapped government to raise money on international markets at an acceptable cost.
