By Alessio Pissanò | While the European banking system is shaken by the worst crisis ever and the Italian Monte Paschi di Siena, the world’s oldest bank, is falling down, the European Commission seems ready to water down the Liikanen Committee’s recommendations about ringfencing of proprietary banking trading.
MADRID | By Tania Suárez | Analyst at Hanseatic Brokerhouse, Juan Enrique Cadiñanos believes the contraction of the Spanish premium risk is the consequence of sounder public finances. Cadiñanos expects a “difficult year” for the Spanish economy, though.
Whether officials in the EU institutions like it or not, the institutions feel remote from most of Europe. And the democratic deficit has grown wider as a result of the eurozone crisis.
BARCELONA | CaixaBank analysts | Spain’s deficit needs to be corrected by 1.8 percentage points of GDP in 2013. The cumulative deficit during the first three quarters of 2012 reaches 6.2% of GDP.
BARCELONA | By CaixaBank Research | Brazil’s GDP grows by a disappointing 1% year-on-year in the third quarter of 2012. Inflation fails to moderate and remains at 5.5%, above the central bank’s target.
By Eberhard Rhein | When introducing new energy systems, policy makers should pay more attention to a balanced development between production and consumption.
CRACOW | By Matthew Shearman | Ahead of the end of immigration controls on Romania and Bulgaria in January 2014, some UK ministers are thinking of running a campaign to deter a repeat of the 2004 “wave” of immigration when eight former communist countries gained EU working rights. But the eurozone crisis makes this prospect less likely.
Amid the generally gloomy economic statistics, however, and much to many commentators’ surprise, there is a whiff of optimism in the air in Europe that could prop up the European real estate markets.
The Worden Report | Expertise in reducing the tax US banks pay in Europe does not make up for the greater ineptitude at those banks, so there is a significant possibility that they will go under.
Presseurop.eu | Kostas Onisenko | Victims of the Greek crisis and its consequences, non-European migrants have started to head home. In a centre in Athens, they talk bitterly of the setback that repatriation represents for them.