The ECB’s preliminary report on the structural financial indicators relating to the EU banking industry flag that the number of banking subsidiaries fell 4.8% in 26 countries last year, without taking into account figures from the UK and Ireland because they were not yet available. There were 28,807 bank branches in Spain at end-2016, compared with 32,026 in Germany, 37,261 in France or 29,335 in Italy. The figures also show the level of consolidation in the banking sector, measured by the share of assets held by the five largest lenders.
Nick Ottens via Atlantic Sentinel | Britain’s Labour Party has narrowed the gap with the ruling Conservatives in the polls, going up from an average of 25 percent support when Prime Minister Theresa May called an election last month to nearly 35 percent.
James Alexander | As some debate raged in the corridors of the ECB about both Draghi’s successor and over when and how to end the QE for the EUR, the common currency remained strong, helping keep the USD weak.
Fernando Rodríguez | The MifidII obliges the 100,000 professionals who inform and advise on finances in Spain to be accredited as being technically qualified to do this job by January 2018. Spain is the only country in Europe which doesn’t have any regulation in place regarding professional qualifications.
The balancing acts which are devised in Frankfurt oblige us to once again take a look at the present and future of inflation in the Eurozone, focusing our analysis on the prices chain. “The ECB did this exercise and the conclusions favour the institution’s caution,” they explain.
In these uncertain times, politics seems to have lost many of the certainties that had been so clearly signposted for voters in the Western World in recent decades. The terms “left” and “right” have often become hard to pin down, especially since the arrival of a gamut of disruptive populisms.
New French president Emmanuel Macron wants to solve the problem of the stability of the euro and its finances once and for all, by implementing some kind of European Fiscal Union.
Nick Malkoutzis via Macropolis | The stock phrases came thick and fast after Monday’s Eurogroup. “Great progress,” “very close” and “an agreement in a few weeks” were a few of the perennial quotes trotted out again by officials following a failed attempt to settle differences over Greek debt relief.
The damping of the refugee crisis and the strength of the economy have weakened German voters’ desire for a radical change. If Angela Merkel is re-elected as chancellor, the financial markets are likely to function normally.
The annual growth rate of the outstanding balance of securities representative of the debt issued by Eurozone residents has slowed, rising 1.4% in March compared with a previous 1.3%. As far as the outstanding balance of listed stocks goes, this grew 0.9% in March compared with 0.7% in February.