MADRID | Peter Garnry, analyst at Saxo Bank: “The true irony of this story is that these political voids, as now in Italy, have often generated periods of economic calm and even growth.”
By CaixaBank analysts | China exceeds expectations with 7.9% growth in GDP year-on-year in the fourth quarter of 2012. Indicators confirm that Chinese exports picked up again in December.
They didn’t even wait 24 hours. Right after the first doubts on the Italian election results arose, Wall Street’s favorite media started claiming that the euro drama was back and austerity does not win votes.
LONDON | The two possible responses from Chancellor George Osborne and Prime Minister David Cameron are well known: they could either use again the eurozone card as a scapegoat, or face the UK rating downgrade.
Banks in the US replicate the behaviour of their European colleagues: credit is being stacked in risk-free deposits with the Federal Reserve instead of flowing into the economy.
MADRID | By Tania Suárez | Profim EAFI’s head of financial analysis José María Luna said in an interview for consensodelmercado.com that the ECB should cut interest rates the sooner the better.
BARCELONA | By CaixaBank analysts | It is necessary to advance towards banking and fiscal union. Without it, the eurozone–particularly periphery countries–will not be able to face the numerous challenges still ahead.
LONDON | Behind the option of recovering the public investment made in Lloyds TSB, a possibility sounded today by Whitehall amid better priced bank stocks, there is the European Central Bank. But British taxpayers will probably never know.
WASHINGTON | Fear of spending cuts and fiscal cliff has made the U.S. defense officials cut spending even before they were forced to do so. A good example of commendable public spirit, even if a bit exaggerated.
Afi analysts issued today a simple but compelling chart showing Brazil is the main target of the more than €100-billion total exposure by Spain’s large companies in Latin America.