Europäische Zentralbank EZB

European Government Bonds: A Sense Of Pragmatism

Julius Baer Research | We share the view of Mario Draghi, President of the European Central Bank, that his ultra-accommodative monetary policy stance alone cannot push the eurozone economy out of its current weakness but needs to be complemented with fiscal impulses.

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Reflections are seen on a logo of Spain's telecommunications giant Telefonica in Madrid

As Telefonica Presents H1’16 Results, It Faces Up To Effects Of Failed Attempt To Sell 02

Telefonica has presented on Thursday its first half results. These have highlighted the new contribution from its O2 UK subsidiary, which returns to the multinational’s permiter after five quarters on the outside. Revenues in the UK during H1’16 reached 3,464 million euros against 25,235 in the consolidated group. Meanwhile, Telefonica’s frustrated attempt to sell its UK unit O2 to Hutchison is beginning to have consequences.


guindi-juncki

Euroscepticism, Past Austerity Allow Spain To Avoid EC Fine

The European Commission (EC) opted against imposing fines on Spain and Portugal for their non-compliance with 2015 deficit targets. So Brussels did not implement the penalties equivalent to 0.2 percent of gross domestic product included in the Stability and Growth Pact for failure to comply with budget rigour. The fines would have amounted to about 2 billion euros for Spain and around €350 million for Portugal.


fedNY

Fed’s Next Rate Hike Will Happen Only In 2017

Julius Baer Research | In the six weeks since the last Federal Reserve (Fed) meeting, the world has been shaken by several events. Despite rallying equity markets, investors stay rattled and filled with unease. Yet in the US, news on the economic front has been mainly positive. Indicators such as the June employment report, retail sales, housing starts, capacity utilization and the service industry have all beaten expectations.

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ECB-new

Are The Central Banks Getting It Wrong? (I)

J.L.M. Campuzano (Spanish Banking Association) | The central banks really need some new arguments for extending their current expansionary monetary policy. As well as for not withdrawing some of the existing measures. The alternative is to get carried away.

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