Ioannis Glinavos via Macropolis | Those at the receiving end of austerity policies and fiscal consolidation measures aimed at stabilizing the eurozone during and after the debt crisis of 2010 have sought redress in the courts, hoping to find an argument that can convince the law to come to their assistance.
“The unifying factor in the Italian coalition of two disparate political parties is firm agreement on the flaws of the EU’s deficit limits, and the risk is that any conciliation with the EU fronted by the Minister of Economy and Finances Giovanni Tria may amount to nothing more than political expedience,” commented today Neil Mellor Senior Currency Strategist at BNY Mellon.
Overall the European financial system grew 0.9% in 2017 (2.8% for the Eurozone) through the banks. The size of the SBS remained relatively stable. This contrasts with its evolution in 2012-2015 when its average annual growth was 9%. The size of shadow banking in the EU, in fact, varied little in 2017, with total assets of 42 trillion at the end of the year.
via The Conversation | With the prospect of a no-deal Brexit edging closer to reality, the European Union is trying to foster some kind of deal on the remaining issues. Lead negotiator Michel Barnier has suggested that if both sides are “realistic”, there could be an agreement by the beginning of November.
Arek Sinanian | There appears to be a continuing struggle between economic rationalism and efforts to abate greenhouse gas emissions and, in particular, commitment to the 2015 Paris Climate Agreement. I have no doubt that such struggle and disjointedness in the introduction of renewables into the mix of the global energy supply is inevitable. After all, it’s another industrial revolution of sorts — one that is green in color instead of a black sooty one.
Excessive price moves in the European energy complex continue to create headlines. Analysts at Julius Baer point to carbon credits which were sold off heavily in the past days after a parabolic rise to 10-year highs.
The Eurostoxx 50 will proceed once a year to change its composition on 24 September. This year there will be three new members of the index: Kering, Linde and Amadeus. The change of sectoral composition of the Eurostoxx 50 over the last two decades has been significant. Regulated companies have lost weight, and the major consumer and industrial multinational with global reach have gained in importance.
It happened in 2018, not in 1818. Nancy fainted in the main airport in London as she was being expelled from the country. Far from helping her, the police accused her of faking her illness to avoid deportation. Five days later she died.
The ECB’s meeting next Thursday will serve to prolong the continuist tone and will be characterised by an appearance by Draghi in which he will continue with his message of prudence. The Italian will also recall that the ammunition remains ready and will insist on the roll-over of matured assets in the portfolio linked to QE, at the same time as again deferring raising interests rates, signalling summer 2019 as a posible date.
Between July 2015 and July 2018, 1.3 million people have sought asylum in Germany. The three years between the festive welcome to the refugees in Munich railway station and the xenophobic revolt in Chemnitz (Saxony) in September – after the stabbing of a 35 year old German, reportedly by foreigners – have seen an unprecedented renaissance of conservative politics.