The Eurogroup recalls that a full staff-level agreement has been reached between Greece and the Troika on updated conditionality programme and that, according to the Troika, Greece has implemented all agreed prior actions.
The leading three rating agencies seem to be very myopic with regards to the United Kingdom and the United States. Would they saw through the branch on which they were sitting?, asks George Dorgan, investment portfolio manager.
Senior policy analyst Angela Steen introduces euronews Business Awards, in collaboration with Google.
China’s GDP grows by 7.4% in the third quarter, in line with the consensus, CaixaBank says. Exports push forward with a solid 9.9% year-on-year last month.
How will the Greek debt be reduced to bearable levels? There are only two simple solutions. Either Interest payments for the outstanding public debt should be paused for a period of 5 years, or the ECB directly funds any financial needs Greece has.
The number of European members of the Parliament is increasing against the expensive and wasteful practice of having two seats for the EU chamber. Official estimates show that approximately €1.2 billion will be squandered during 2014-2020.
Corporate bond markets are still buoyant, according to CaixaBank analysts. Many firms, taking advantage of this renewed appetite for risk, have intensified the rate they issue debt.
Britain wants the budget frozen at its 2011 level. But if the talks collapse, the 2013 budget will simply be rolled over to 2014 but with inflation added. The budget would end up far larger than 2011, says John Springford, research fellow at the Centre for European Reform.
Economic weakness will remain in the second half of the year, CaixaBank analysts say. Consumer confidence fell again in the third quarter of the year. The IMF also lowered its growth forecasts.
In Palencia today, Renault Spain chairman José Vicente de los Mozos announced the company’s new 2014-2016 Industrial Plan. It assigns new products to Renault’s production facilities in Spain, and creates new jobs.