MADRID | STUTTGART | JPMorgan analysts have a swift explanation: “The European Redemption Fund is the idea which would create a fund to which countries would transfer the excess of debt over 60% debt per GDP. In case of default of one of the countries, the remaining would take joint responsibility of the debt deposited in the fund. Countries would be required to allocate collateral for 20% of the nominal…
LONDON | UK firms are this week seeking new businesses in Baltic States and Finland. The British trade and investment minister, Stephen Green, is in a visit to Latvia, Lithuania, Estonia and Finland that began Tuesday, focused on developing trading links with the UK and attracting new investment. Exports of goods and services from the UK to the four countries visited this week totalled more than £3.6 billion in 2010, while…
Analysts at JP Morgan released Wednesday an 11-point note with the main questions triggered by the ongoing partial rescue plan to support capital needs of the Spanish banking sector. We are passing them on to you, but we think 8 is particularly interesting as it means Spanish taxpayers are pushed to the front line, and 11 is ironic, as we suspect the Spanish conservative government was unaware it was lending a…
By Nuño Rodrigo | www.cincodias.com | It is remarkable the swiftness with which the markets have amortised the bailout plan for the Spanish banking sector. But it is no surprise; the markets have their own stimulus, reward and learning mechanisms, and when an event appears repeatedly, the process rolls out ever quicker. The Greek bailout anaesthetised the markets for some months; the Irish did the same for some weeks; the…
After significant falls in 2010, European Union foreign direct investment flows more than doubled in 2011, the statistical office Eurostat said on Wednesday. The EU foreign direct investment flows to the rest of the world reached €370 billion in 2011, after having decreased from €316 billion in 2009 to €146 billion in 2010. Foreign direct investment into the EU27 from the rest of the world were at €225 bn in 2011, after having…
LONDON/MADRID | Ratings agency Standard & Poor's had already added an injection of €80 billion to €120 billion of public money into the banking sector when it downgraded Spain last April 26 to BBB+ with negative outlook. The agency stated this week that even using the total amount of €100 billion, the country's debt per GDP ratio would be 76.6 percent in 2014. S&P said there would be no further…
ex gf http://goexback.com how to get your ex back Global equities are at their most undervalued since August 2011, a BofA Merrill Lynch survey of fund managers showed for June. A net 48 percent of the global panel believes global equities are undervalued, matching the lowest level since the survey began. The reading is up from a net 35 percent in May and a net 22 percent in April. At the same time, a…
By Tania Suárez | Vassos Shiarly, minister of Finance in Cyprus, admitted Monday night that his country would urgently need a bailout. The Wall Street Journal and the Financial Times refer to several European officials who have said that this rescue would rise to €3 billion to €4 billio. Shiarly said that “This issue is urgent. We know that the recapitalisation of the banks (in Cyprus) must be finished by June…
MADRID | elconfidencial.com | The rescue operation of the Spanish banks is rather a foreign banks' bailout, the online daily El Confidencial reported Tuesday. Check the International Monetary Fund's recent study on Spanish banks and a graph shows up with an eloquent figure. The exposure of foreign banks to Spain is moving towards a colossal number: €1.2 trillion. What is surprising is not just the sheer volume of it but also its…
BEIJING | Kuiki Studio has found in Asia the opportunity to develop a business model not possible if it were based in Spain. In just 6 months the internet solutions company Kuiki Studio ceased to be a project in the minds of a small group of friends to become a Spanish company based in Hong Kong, with clients across Asia and Europe and having a 10% of the company owned by…