EU

Monte dei Paschi bailout

Does Monte dei Paschi bailout comply with EU regulations?

The German authorities have come out en masse to criticise the public bailout the Italian government is planning for Monte dei Paschi. For many observers, this decision implies “direct public aid” which goes against the European directive on banking solutions and restructurings.


Italian banks results

Looming Banking Crisis in Italy Casts Another Shadow on Eurozone

Peter Lundgreen via Caixin| What should be deeply worrying about the growing banking crisis in Italy is the origin of the non-performing loans. One significant sector is retail and wholesale, meaning it’s a widespread problem. A severe banking crisis is a shock for any economy and will, in many cases, hamper economic growth. This is the risk that Italy and the Eurozone are facing.


FinanceTC

The Best Is Yet To Come For FinTech

Citi Research | We initiate coverage of EMEA FinTech with a focus on payments. The payments industry is undergoing profound change, and the way consumers pay for services and goods is changing at the fastest rate since the proliferation of credit cards.


banca-italia

Italian Banks: Definite source of contagion

Italy is threatening us with another time bomb. The country’s banks have 360 billion euros of doubtful loans and the EU (that is to say the sinister Eurogroup), as intelligent as ever, is pressuring for the bail-in rules, to which ultraliberal & co are so addicted, to be implemented by the book.


spain-public-finances

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.

 


UBS_forecasts

UK Budget: Deja-Vu, All Over Again

The Chancellor’s latest Budget saw the cumulative forecast for government borrowing over the next five years revised up by close to GBP 40bn. This reflects both weaker cyclical growth and also the Office for Budget Responsibility (OBR) taking a gloomier view on UK trend productivity growth.


IOSCO Secretary General David Wright

Markets supervisor: With its capital markets union Brussels is behind the curve

MADRID | March 26, 2015 | By Ana FuentesDavid Wright is charged with overseeing international securities regulators in his role as Secretary General for IOSCO. In an exclusive interview with The Corner, he speaks of the need for greater urgency in integrating global capital markets. He also notes that a failure to understand the changes taking place in global financial markets could be hindering economic growth.


coffee-with-beans

Morning briefing: US Fed language will focus attention

The Corner | March 16, 2015 | The week ahead is likely to be dominated by the FOMC meeting in the US.  Market watchers are expecting some movement on the semantics of pronouncements by the US Fed. In essence, any change in language will signal that a rates hike from the central bank is drawing closer.



Tsipras Juncker TC

Morning briefing-ECB to begin buying sovereign bonds

The Corner | March 9, 2015 | The ECB will finally begin its purchasing of sovereign bonds today, but as ever, the Greek question continues to loom in the background. Greece will return to the forefront of events today at the meeting of the Eurogroup of finance ministers in Brussels. Weekend remarks from the Syriza led government seemed to spell out just how precarious the government’s financial situation now is. Yet once again, the country and its creditors appear polls apart on how best to proceed.