Recent Blog Posts
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The Times' Rorshach Geithner Story
Apr 27 20099:04am EDT -
Sinking Animal Spirits
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Counter-cyclical Urban Policy
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Be Your Own Counterfeiter
Apr 26 20099:04am EDT -
Being Tim Geithner
Apr 25 200912:04pm EDT -
Notes From a Press Conference Naif
Apr 25 20099:04am EDT -
What Good is the News?
Apr 25 20098:04am EDT -
Stressful Enough
Apr 24 20092:04pm EDT -
Not Regretting the Pound
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Introducing the New Ford Squeeze
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Non-Economic Questions of the Day
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The Stress Test Blind Alley
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Happy Hour
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Recovery Without Rebalancing
Apr 23 20096:04pm EDT -
The Shape of Your Recession
Apr 23 20095:04pm EDT
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Europe: Watching Soccer, not the Markets
Late on Friday night, German time, I got an email from Portfolio headquarters in New York. "Not that I need to tell you this," it said, "but give us a little taste of how Europe is shaping up Monday morning."
OK. Here in Berlin it's an absolutely gorgeous day, sunny, not too hot, blue skies. The mood is very cheerful, since Germany beat Poland 2-0 last night in the European cup. The rest of the first four matches went more or less according to expectations too: the Czech Republic beat Switzerland in the opener, Portgual beat Turkey 2-0, and Croatia managed to beat Austria 1-0. Tonight is Netherlands-Italy, which should be fun.
You want news news? There's a truck drivers' strike in Spain, not much else. On the business side, Germany's Postbank is going to be sold, probably for about $15 billion, but we kinda knew that was going to happen already. And the weird France Télécom bid for Scandinavia's TeliaSonera seems to be falling apart - also to no one's great surprise.
Oh, and the stock markets? No news there, basically flat. If you're the kind of person who watches CNBC all day and was panicked into thinking that the world was coming to an end on Friday, it wasn't. As for oil, it's down a little bit, although still at an eye-watering $137.65 a barrel. Basically, USians, you're on your own. You wanna continue with the whole crazy-volatile markets thing? Go right ahead. Won't bother us.
