Spain’s best-seller financial daily Expansión reflected on Friday how adamant the country’s banking authorities are to clear the air after the Financial Times named seven entities among a European selection of 16, all of which apparently were in extremely urgent need to raise tier 1 capital. “The British newspaper FT yesterday published, quoting a senior French official, that the European Union is to push for critical re-capitalisation of 16 banks and…
Many in the euro zone would be happy seeing this Barclays forecast becoming true, not the least in its peripheral shores. “We have revised our ECB projection and look for the ECB to lower the main policy rate by 25bp at its meeting on 6 October, and to widen the interest rate ‘corridor’ back to +/-100bp, which would entail lowering the deposit facility rate by 50bp to 0.25%. In turn,…
LONDON | There was a bit of a kerfuffle in UK politics, not to mention economics, when the Financial Times‘ (FT) Monday edition announced it had reached a 25 per cent-difference conclusion on what the country’s structural deficit actually weighs. The FT researchers, the newspaper explained, had spent the British summer making swift calculations –while probably reading Aristotle and his “Metaphysics“: they followed the government’s own mathematics formula to bring…
In a report that analyzed the fifty largest financial groups in Europe, the risk agency Standard & Poor’s (S&P) ranking highlights credit grades awarded to each of them. In the classification, the two Spanish giants BBVA and Santander appear in the top positions. El Economista informs that “They occupy third and fourth steps respectively, based on the quality of their rating.” Of course, both still face the threat of a downgrade if the…
In a report that analyzed the fifty largest financial groups in Europe, the risk agency Standard & Poor’s (S&P) ranking highlights credit grades awarded to each of them. In the classification, the two Spanish giants BBVA and Santander appear in the top positions. El Economista informs that “They occupy third and fourth steps respectively, based on the quality of their rating.” Of course, both still face the threat of a downgrade if the…
When all you can quote from those who apparently warm up to the prospect of euro zone’s bonds is this… “It’s imperfect and it would be difficult,” says Simon Tilford of the Centre for European Reform, a London think tank. “But it’s much less destructive, economically and politically,” than watching the euro collapse, he says. Although, that wouldn’t be accurate. There is this letter from the co-director at Coimbra Centre…