News
CNN: Money | Eurozone pledges €150 billion to IMF
European finance ministers announced plans for euro area governments to funnel €150 billion into the International Monetary Fund, according to statement issued Monday following a lengthy conference call.
Bloomberg | Republican Lawmaker Wants More Fed Disclosure, Inflation Focus
Representative Kevin Brady, the top Republican on the Joint Economic Committee, is drafting legislation that would focus the Federal Reserve on a single mandate for price stability, require more transparency and shift control over interest rates away from Washington.
Econ Comments
CNBC | Euro Break-Up 'Unthinkable': ECB Vice-President
It’s still absurd and unthinkable in many senses of the word,” Constâncio said. "For people who really understand what it means to have a monetary union, it’s really unmanageable and unthinkable.”
Blogs
Calculated Risk | ECB Warns on Risks
The European Central Bank warned Monday of a perilous year ahead as the sovereign debt crisis collides with slower economic growth and a dearth of market financing for banks.
Reports
NBER | Sovereign CDS and Bond Pricing Dynamics in the Euro-area
This analysis tests the price discovery relationship between sovereign CDS premia and bond yield spreads on the same reference entity. The theoretical no-arbitrage relationship between the two credit spreads is confronted with daily data from six Euro-area countries over the period 2004-2011.
