BERKELEY | July 18, 2015 | By Barry Eichengreen via Caixin | The Greek crisis and the sharp increase in volatility on Chinese stock markets have been the two principal sources of financial headlines – and worries – in recent days. To be sure, the situations in Athens and Shanghai are quite different, yet they have a common set of implications.
LONDON | July 17, 2015 | UBS | Property activity corrected visibly in 2014 and H1 2015, with declining property starts and weaker construction dragging down China’s industrial sector and GDP growth.
John Bruton | If Greeks themselves do not trust their own government and banks with their money, it is difficult to expect the taxpayers of other countries to do so. Yet that is what critics of the third Greek bailout seem to expect.
BEIJING | July 16, 2015 | By Shi Rui, Liu Jiaying and Chen Xinlei via Caixin | Authorities are fleshing out a plan that would let country’s locally managed pensions buy and sell stock on the Shanghai and Shenzhen exchanges.
LONDON | July 16, 2015 | Barclays | The Greek parliament passed a package of measures as part of its bailout agreement, with the focus now shifting to whether the ECB raises the ELA ceiling. The Governing Council meeting is also scheduled for today, and we expect the press conference to be focused on Greece.
LONDON | July 15, 2015 | BNP Paribas | The fall in the Chinese equity markets is mainly a market correction phenomenon, the most important question now is how it will transmit to the real economy. Our view is that the transmission will be muted.
July 15, 2015 | UBS | Lifting sanctions would add more production to an already oversupplied market.
ATHENS | July 15, 2015 | By Manos Giakoumis via MacroPolis | Among the measures the Greek government has committed to legislate by July 22, according to the Euro Summit statement is the transposition of the Bank Recovery and Resolution Directive (BRRD).
It is ironic that trade and investment flows within BRICS countries—Brazil, Russia, India, China and South Africa—continue to disappoint, even though economics was the primary reason for the formation of the grouping.
LONDON | July 14, 2015 | UBS | The “Wall of Worry” for the European Equity Bull market has shifted somewhat from Greece to China.