European banking union at beginning of 2013 unlikely
Though Eurozone leaders have agreed to work towards a banking union that would round up European banks under a single supervisor, the timetable for such a venture is still unclear. The so-called...
View ArticleTroika forecasts steeper contraction in Greece
Troika, or the ‘men in black’ as the Greeks call them, representing the European Commission (EC), the European Central Bank (ECB), and the International Monetary Fund (IMF), expect the Greek economy to...
View ArticleECB envisions heavy bond buying at beginning of OMT
If Spain requests a bailout, the European Central Bank (ECB) would buy bonds ‘heavily’ for one to two months under its Outright Monetary Transactions (OMT) programme. It would then suspend purchases...
View Article11 EU members now support financial transaction tax
Following the Ecofin meeting held earlier in the day, economic leaders from the European Union (EU) including European Commissioner for Economic and Monetary Affairs Olli Rehn have announced that 11...
View ArticleEU does not impose conditions on governments, says Barroso
Speaking at a roundtable debate on the state of Europe on Thursday morning, European Commission President Jose Manuel Barroso said that there is no easy way to get out of the crisis, but that the...
View ArticleWorries over Greece may be receding for the moment.
Worries over Greece ‘might’ be taking a breather if today’s debt auction can serve as indicator. The cost of financing its short-term debt dropped, even though it should be noted that demand also...
View ArticleLondon pre-open: Slight rebound expected after sell-off
Markets are expected to rebound slightly on Thursday morning as they attempt to claw back some of the heavy losses from the day before, after Eurozone concerns outweighed any Obama-related optimism and...
View ArticleGreece passes 2013 budget
Greece’s parliament put the rubber stamp on its budget for 2013 late Sunday night with a wide margin as 167 deputies approved the bill, 128 voted against, four voted ‘present’ and one member was...
View ArticleING reaches debt repayment deal
Dutch banking group ING has reached an agreement with the European Commission (EC) over a timetable to pay back the three billion euros that it still owes the Dutch government. ING, which was rescued...
View ArticleSlacken That Belt
Whoops, it was yet another ghastly month for austerity. Just as we were getting over the news that the International Monetary Fund had queried the wisdom of Britain’s painfully ambitious fiscal...
View ArticleEurozone fragile as euro falls in value
The Euro has fallen in value over the last week or two. Since hitting EUR/USD 1.383 on 25th October, which incidentally was a 2 year high for the single currency against the greenback, it has fallen...
View ArticleAPFA lobbying helps kills EU plan to cap adviser charges
Intense lobbying of MEPs by APFA has led to a EU plenary yesterday voting for the withdrawal of a proposal to cap adviser charges. The EU cap proposal was included in the draft regulation on Key...
View ArticleECB envisions heavy bond buying at beginning of OMT
If Spain requests a bailout, the European Central Bank (ECB) would buy bonds ‘heavily’ for one to two months under its Outright Monetary Transactions (OMT) programme. It would then suspend purchases...
View Article11 EU members now support financial transaction tax
Following the Ecofin meeting held earlier in the day, economic leaders from the European Union (EU) including European Commissioner for Economic and Monetary Affairs Olli Rehn have announced that 11...
View ArticleEU does not impose conditions on governments, says Barroso
Speaking at a roundtable debate on the state of Europe on Thursday morning, European Commission President Jose Manuel Barroso said that there is no easy way to get out of the crisis, but that the...
View ArticleWorries over Greece may be receding for the moment.
Worries over Greece ‘might’ be taking a breather if today’s debt auction can serve as indicator. The cost of financing its short-term debt dropped, even though it should be noted that demand also...
View ArticleLondon pre-open: Slight rebound expected after sell-off
Markets are expected to rebound slightly on Thursday morning as they attempt to claw back some of the heavy losses from the day before, after Eurozone concerns outweighed any Obama-related optimism and...
View ArticleGreece passes 2013 budget
Greece’s parliament put the rubber stamp on its budget for 2013 late Sunday night with a wide margin as 167 deputies approved the bill, 128 voted against, four voted ‘present’ and one member was...
View ArticleING reaches debt repayment deal
Dutch banking group ING has reached an agreement with the European Commission (EC) over a timetable to pay back the three billion euros that it still owes the Dutch government. ING, which was rescued...
View ArticleSlacken That Belt
Whoops, it was yet another ghastly month for austerity. Just as we were getting over the news that the International Monetary Fund had queried the wisdom of Britain’s painfully ambitious fiscal...
View Article
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