Perseverare Diabolicum

Last week the Council decided that Spain and Portugal’s recent efforts to reduce deficit were not enough. This lead to the two countries being fined, the first time this happens since the inception of the euro.


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Does Brexit Lead to X-Exit?

BoAML | After Brexit, we followed through on our scenario analysis, penciling in a full-blown UK recession, cutting 0.5% off of Euro Area growth and slicing 0.2% off of US and global growth. Events since Brexit have not changed our call. The pound has plunged more than 11% since the vote, and both consumer and business confidence have tumbled.


Fool Britannia

Nick Malkoutzis via Macropolis | A pointless referendum, a prime minister resigning, the opposition collapsing in a heap, the finance minister disappearing and nobody having any plan about what to do: This has all happened over the last few years in Greece. Never, though, all at the same time as has just occurred in the UK.


Ms May takes over

The ‘leave’ campaigners have shown their inability to run the Brexit. They felt unspirited to undertake the awesome task of taking Britain out of the European Union, let alone lead the country in these difficult circumstances. One after another they either refused to challenge premiership or were brushed away by poor support among Conservative MPs. It stands as no surprise Ms May has snatched an easy victory.

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From Berlin to Brexit

Nick Malkoutzis via Macropolis | “So, you are here?” said the check-in attendant at Berlin’s Tegel Airport. The man, who appeared to have a Somali background, had a charming smile. His comment was in reference to my British passport and the fact the UK was holding its Leave/Remain referendum on the same day.


Dismantling The Components Of The Brexit Effect

The anti-Brexit supporters continue to fire a battery of the most dire predictions, without there really being any reliable information or models on which to form such precise and one directional forecasts. Furthermore, they are shooting themselves in the foot because Brexit is irreversible.


A Grain of Salt On Brexit And On The Risk Of XXxit

Francesco Saraceno | Much has been said, already, and even more will be said in the coming hours/days/weeks/months/years, on Brexit. I have little to add. So here is what I see as a series of notes to self. For those who are already tired of reading pages and pages, I can summarize what follows in a sentence: We should focus more on policies than on institutions.


Brexit Is Calling The Shots; PP Victory Leaves The Ibex Fairly Cold

The rise in the Ibex 35 in the first few minutes of Monday’s session, when it rose 3% to over 8,000 points could not last. And it didn’t. Half an hour after the market opened, it began its downward spiral once again towards the 7,700 level. It lost over 2% and stayed there almost until the close, with the fall mirrored in the rest of the European exchanges.


Why The British Said No To Europe

The majority vote by Britons to leave the European Union (EU) was an act of raw democracy. Millions of ordinary people refused to be bullied, intimidated and dismissed with open contempt by their presumed betters in the major parties, the leaders of the business and banking oligarchy, and the media.