The Draghi speech in six charts
MADRID | JL Martínez Campuzano, of Citigroup in Spain, dissects yesterday’s speech of Mario Draghi. Some lights seem to be shedding hope over the eurocrisis, but it is a hard work in process.
MADRID | JL Martínez Campuzano, of Citigroup in Spain, dissects yesterday’s speech of Mario Draghi. Some lights seem to be shedding hope over the eurocrisis, but it is a hard work in process.
Spanish economy’s agents have prioritised the reduction of their debt burden, and businesses’ savings have increased by 6.1 percent.
MADRID | by Citigroup’s José Luis Martínez Campuzano | “There is, unfortunately, some shared ground between Europe and the US: the apparent impossibility to reach major political accords on economic policies.”
The figures don’t look too good. Raising taxes on the rich and simply delaying spending cuts for a paltry two months are going to do little to remedy the humongous US debt problem which amounts to over $17 trillion.
MADRID | By Carlos Díaz Guell | The Spanish bank’s bailout, added to the reforms and decisions made during the last years, can effectively complete the country’s banking puzzle and halt the worsening of a seemingly never ending crisis.
The ability of central banks to raise investors’ confidence is wearing off. More so when the European Central Bank has become a liability for the US Federal Reserve.
Do you remember the vast injections of public cash in insurer AIG and the TARP operation to clean banks’ balance sheets? They cost American taxpayers no penny at all, and have now been completed with success. Hello, Brussels, anyone listening?
Over 80 percent of all Spanish deposit banking institutions–six of them systemic–will be inspected by the European Central Bank from 2014.
Total gross issuance had to reach €199.5 billion, but the government had placed €200.9 billion of sovereign debt as of Wednesday.
Mr Draghi, governor at the European Central Bank, should listen to his American colleague at the Federal Reserve. And follow suit by means of expnasionary monetary policies even if inflation reaches 4 percent.