In Europe

Germany: time to invest

The investment deficit is a reality in Germany and, if not corrected, could undermine one of its strong points like productivity.


GDPR: Europe continues to wrestle with the long arm of American law

European Views | In a landmark decision, the European Court of Justice ruled Tuesday that “the right to be forgotten”, one of the core data privacy protections enshrined in the EU’s flagship General Data Protection Regulation (GDPR), only applies to search results inside the European bloc. The ruling has reassured those worried that the right to be forgotten constitutes an extension of European law beyond the EU’s borders.





Draghi leaves an outstanding heritage

J. P. Marín-Arrese | Against all odds, Draghi has secured consensus over his stimuli package by a cunny trade-off between the subdued intensity of individual measures in exchange of ample coverage. His brilliant brinkmanship as Chair of the ECB facilitates the task of his successor as Ms Lagarde can wait-and-see comfortably cushioned by a strong and comprehensive arsenal relieving her of the need to change course for many months to come.


Hard Brexit: What would it mean for European equities?

Hard Brexit: What Would It Mean For European Equities?

Patrik Lang, Head of Equities Research, Julius Baer | A further delay on 31 October seems currently the most likely scenario. General elections later on will decide the fate of Brexit. For continental European equities, we see a 10% downside in the event of a hard Brexit, mainly driven by financials and autos.


UK general election: when and how could it happen?

Chris Stafford via The Conversation | Despite repeatedly insisting he didn’t want a general election, Boris Johnson, the UK prime minister, has now tried and failed to get parliament to support one. It now looks like he’ll try again or seek a vote by some other route. Having lost his majority and control of parliament, a general election seems almost inevitable now. The big question, though, is when it will happen.


Italian flag

Italy: new cards on an old table

A. Menut and A. Tentori (AXA IM) | Italian politics are back at centre stage, with Lega party leader Matteo Salvini unexpectedly triggering a government crisis and making way for what in many ways is yet another spurious coalition. The positive political climate, more European Union-friendly, together with non-negative – although weak – growth should be encouraging for markets.


Disruption in the Eurozone: Challenges of an Arranged Marriage

By Nicola Mai (PIMCO)| Just as the hope in an arranged marriage is that people will fall in love, the hope 20 years ago was that the currency union would foster fiscal and political integration. So far, the European project hasn’t delivered what many had hoped, although the marriage is still holding.