ECB and BoE will not take any false steps
Focus in Europe today will be on the ECB and the Bank of England’s meetings. Neither Draghi nor Carney will change the course of their monetary policy.
Focus in Europe today will be on the ECB and the Bank of England’s meetings. Neither Draghi nor Carney will change the course of their monetary policy.
Yiannis Mouzakis via Macropolis | The head of the European Stability Mechanism (ESM) Klaus Regling leads an organisation that in its previous form as the European Financial Stability Fund (EFSF), issued loans of 17.7 billion euros to Ireland, 26 billion euros to Portugal and just under 131 billion to Greece.
BARCLAYS | The results of the general election in Portugal came in broadly in line with recent polls: the PSD/CDS conservative coalition, currently in government, won again with 38,5% of the vote, but it fell short of an absolute majority of seats in parliament. Political instability could potentially also result in early elections after one year.
The European Commission is trying to create a single market for capital across the continent to increase and diversify the funding sources for Europe’s business and long-term projects. In the EU, mid-sized companies received five times less money from capital markets than in the U.S.
BARCLAYS | With an early official communication laying out the macroeconomic assumptions, and a reaffirmed government strategy to reduce the deficit by cutting expenditures, today’s presentation of the 2016 Budget provided few surprises.
ATHENS | Nick Malkoutzis via Macropolis | The September 20 election, the second this year, has probably generated more questions about Greece’s political future and how stable it will be than it has answered. Repetition, it seems, has failed to provide clarity.
Estimations for the Eurozone’s inflation in September have been met: prices turned negative again after six months above zero. Some analysts think this time “the ball in not in the ECB’s court”.
Even if money supply growth in the eurozone slowed by 0.5% to 4.8% in August, credit to households increased by 1% to 1.4%. In particular, mortgage loans rose 1.6% compared to July.
ATHENS | By Nick Malkoutzis via Macropolis | By working with the Independent Greeks, Alexis Tsipras has taken a sledgehammer to the hopes of those who thought he might seek a more progressive alliance this time.
ATHENS | By Nick Malkoutzis via MacroPolis | Working out how Alexis Tsipras went from anti-austerity crusader to comfortably winning an election while promising to implement the third bailout, and in the process turning a resounding “No” in the July referendum to a humiliating “Yes” a week later, is something that political scientists will study for years to come.