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In Europe

Moscovici suggests the isolationist tendencies in Trump’s “America First” to be countered by “European way

In Europe 4th March 2018

Tectonic Plates Have Shifted In The Eurozone

Athanasios Dimadis and Pierre Moscovici | President Trump’s election marked a new turn in the US-EU relations. EU commissioner for economic affairs, Pierre Moscovici, did not shrink from using harsh language in the past to respond to President Trump’s comments about potential EU collapse. During the recent World Economic Forum in Davos, Moscovici suggested that the isolationist tendencies inherent in Trump’s “America First” approach could be countered by what he calls a “European way.”

Bank Of England to accelerate pace of interest rates rises

In Europe 2nd March 2018

Bank of England Barking Mad

The Bank of England has indicated that the pace of interest rate increases could accelerate if the economy remains on its current track. You have to wonder what the eminent experts on the MPC drink in their tea to be so off course about the current track of the UK economy.

Germany's motor is greased

In Europe 2nd March 2018

Germany: The Motor Is Greased

In total, despite the big recession, the German economy has grown 26% so far this century and, even more importantly, 20% from the minimums of Q1’09. It is currently experiencing one of its best moments since the “V” exit from the big crisis.

Novartis

In Europe 28th February 2018

Greece Reaches For Its Pills

Nick Malkoutzis | The decision earlier this month by an anti-corruption prosecutor to send to Parliament a case file that contained statements from three protected witnesses who accuse 10 politicians of accepting bribes from the Swiss pharmaceutical giant has unleashed all the negative and vomit-inducing elements that Greek politics has to offer.

Risks are diminishing in the Italian banking sector

In Europe 27th February 2018

The Italian Banking Sector Has A False Sense Of Security

The latest Financial Stability Report by the Bank of Italy concludes that “risks are diminishing in the banking sector”. This could give a false sense of security. The decline of non-performing loans reflects one-off write-downs rather than an improvement in credit quality.

Italian flag

In Europe 21st February 2018

Italian Elections: Which Scenario Is Best For Markets?

Italy’s general elections on 4 March will likely be the biggest political event in the euro zone this year. They can be notoriously hard to predict, but the most likely outcomes are a new government from the current centre-right coalition or a new PD/centre-right coalition. The markets should absorb either event in stride; even if bond spreads widen, Allianz Global Investors believe Italy is still a buy as long as the centre holds.