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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...

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Troika 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...

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ECB 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...

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11 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...

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EU 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...

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Worries 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...

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London 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...

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Greece 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...

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ING 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...

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Slacken 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...

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Eurozone 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...

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APFA 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...

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ECB 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 Article


11 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 Article

EU 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 Article


Worries 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 Article

London 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 Article


Greece 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 Article

ING 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 Article

Image may be NSFW.
Clik here to view.

Slacken 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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