The ECB: “A careful normalisation which should start gradually”
Intermoney | There is little in the way of significant economic data due out in Europe today, so the main focus will be on the minutes of the ECB’s last meeting.
In Europe
Catalan Referendum: Has Spain been badly wounded?
A British newspaper asked this question this morning and it’s very pertinent. What has been happening in Catalonia recently puts Spain, a member of the EU, at risk of failure. Essentially what has taken place in Catalonia is the violation of the constitutional order and the rule of law.
Catalan Referendum: Rajoy has the law on his side, but is politically weak
The main problem from today onwards is not that Catalonia obtains independence, because there is zero possibility of that happening. It’s rather the weakening of Spain and Europe. Prime Minister Rajoy has the law on his side, but he is politically weak. He needs to look for back up outside, from Europe. But effective support, not notional.
European Fears of “Jamaica” Coalition Are Overblown
A three-party “Jamaica” coalition in Germany may not be so bad for Europe as observers fear. The real benefit for Europe would be German domestic policy. After four years of stasis under the grand coalition, the “Jamaica” parties could transform the German economy
British Politician Vince Cable Could Lead a Government of National Unity
Merkel’s Pyrrhic General Election Victory Is Fairly Negative For Europe
Angela Merkel’s victory in Sunday’s general election in Germany was insufficient and fairly negative for the rest of Europe. For one thing, the Macron Plan, to create fiscal unity, has automatically been pushed back for at least four years.
German Elections Outcome To Have Limited Impact On Markets In Short-Term
Despite the elements of surprise in yesterday’s general elections in Germany, most analysts and economists believe the overall impact on the financial markets will be limited in the short and medium-term. But with the status quo of the Grand Coalition no longer available, there will now be a period of uncertainty.
Spanish, German Banks Maintain Their Weighting After The Crisis, In Absolute Terms And In Relation To Their Product
The non-banking sector in Europe currently accounts for 54% of total assets versus 42% in 2008. But interestingly, it’s in Germany and Spain, amongst the big countries, where banks maintain their weighting in absolute terms and in relation to their products.
Mixed Views From France on Catalan Referendum
French coverage of the Catalan independence referendum has something of the left-right split we saw in Germany, but most of the media are united in calling on Catalan and Spanish leaders to meet each other in the middle.
What To Expect From The Upcoming But Forgotten German Elections?
There has been something of a political roller-coaster in Europe over the past months, and it appears already that no-one is giving much importance to the upcoming federal elections in Germany. But there are various issues and questions making this election especially important for Germany and the EU.