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German banks were behind Spain’s housing bubble

Spain has been hit hard by the Eurozone crisis, with unemployment levels pushing towards 27 per cent. Vicente Navarro writes on the role that Germany, the most powerful EU state, has played in the Spanish crisis. He argues that German banks must also share some of the responsibility for perpetuating Spain’s housing bubble.

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Cyprus: Of course it’s a template!

LONDON | City-based fund manager Pawel Morski (pseudonym) believes the EU is recognising it is moving towards a new regime of bailing in banks. For a non-template, he points out, the Cyprus solution drops some cracking clues as to Brussels’ priorities.

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Mr Draghi disagrees with the world

MADRID | Will the ECB finally U-turn or would it sit as a quiet spectator while the US Federal Reserve and the Bank of Japan intervene with massive liquidity injections against the credit crunch?

Are Euro zone debt levels sustainable?

MADRID | Forcing peripheral economies to sacrifice growth leads nowhere except to future tempests should their debt sustainability come under suspicion once again.

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Spanish SME’s special financial market will reach $1.3bn in 2014

MADRID | The newly created Alternative Fixed Income Market (MARFI, in its Spanish initials) for small and medium size enterprises (SME), that the government wants to have ready, could mobilize around 1 billion euros (1.3 billion dollars) within its first year of existence, says Axesor. The company, specialized in information and credit risk management, adds that the yield could stand somewhere between 6 and 10%.

Playing God with the US economy

WASHINGTON | Two online games posted in two regional Federal Reserve’s banks (San Francisco and Atlanta) enable us to forecast that the extremely accommodative US monetary policy will continue for a long period of time.

Should non-euro area countries join the SSM?

By Zsolt Darvas, Guntram B. Wolff | Bruegel Think Tank | Irrespective of the euro crisis, a European banking union makes sense, including for non-euro area countries, because of the extent of European Union financial integration. The Single Supervisory Mechanism (SSM) is the first element of the banking union.