Editor's note (5/13/13): this member post is now outside the paywall to agree with this post by Roger Altman at the FT indicating that markets and not politicians are forcing the euro zone to either backstop sovereigns or face default. In the absence of the ECB going all in - which they cannot do by law, austerity is assured.
I have been sidetracked recently, but I am still in the process of finishing my European overview that I began two weeks ago. One important event which has occurred since I started writing it is the debunking of Reinhart and Rogoff. Credit Writedowns carried two posts on this last week, one from me and one from Andrea Terzi. But I would like to follow up in this daily commentary with some thoughts on Europe and Reinhart-Rogoff because I believe austerity in Europe w...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.