The elections in Germany are just 3 days away now and all the coalition possibilities are still on the cards. That said, the most likely seem to be Angela Merkel’s CDU&SPD, like now, and CDU&FDF&Greens.
ThyssenKrupp and Tata Steel signed an agreement to combine their steel businesses through a fifty- fifty joint venture and create the second player in Europe behind ArcelorMittal. European assets of India’s Tata Steel’s are valued at up to $1,026t. Is that realistic?
According to figures from the latest quarterly report of the Bank for International Settlements (BIS), there is a gradual normalisation happening in the interbank market.
Nick Malkoutzis via Macropolis | It has taken Alexis Tsipras almost 1,000 days to decide that the best thing he can do is to look forward instead of looking back at the failings of previous governments and the problems his administration inherited.
The PSI outpaced other European stock markets yesterday, boosted by S&P’s decision to raise Portugal’s investment grade (BBB-) for the first time since 2012: the Portuguese market “celebrated” the milestone with a 1.9% rise.
The European Central Bank (ECB)’s non-conventional measures contributed 1,7 percentage points to Spain’s real GDP growth between 2014 and 2016, while also helping to cut the public deficit by 1,9 percentage points over the same period.
During the first half of 2017, the employment level in the Eurozone came back at its pre-crisis peak level. This was already the case for the first quarter but it has been confirmed for the three months to June, which reflects a catch up when growth is more robust and with less uncertainty”, says Philippe Waetcher, chief economist at Natixis AM.
To have a closer look at where new money is coming from, Carax-Alphavalue focuses on Q3. They think the 2017 picture “is gaining certainty.” They also point that 2017 earnings should be up €101bn, which is the largest variation of the last 11 years excepting €170bn rebound in 2010.
Nick Ottens via Atlantic Sentinel | Chris Bickerton makes a strong argument in The New York Times: Emmanuel Macron is on track to become yet another failed French president. He argues Macron’s “entire political project” has been built around his personality.
Nick Ottens via Atlantic Sentinel | In his annual State of the Union European Commission speech, president Jean-Claude Juncker’s proposals for closer EU integration is a throwback to the false dichotomy of more or less Europe. Furthermore, they contradict the “multispeed Europe” that has been endorsed by France, Germany, Italy and Spain.