European banking supervisor gets tough (but not excessively so)
And it will have consequences for the Spanish banking sector’s solvency.
In Europe
Corbyn’s European context and the challenge to turn popularity into power
LONDON | Much is made of his (self-proclaimed) socialism. Yet, it is more likely that Jeremy Corbyn gathered support not because he is a socialist but in spite of being one.
Greek elections watch: 24 parties and coalitions apply to contest
By Damian Mac Con Uladh via MacroPolis | Greece’s Supreme Court has received a total of 24 applications from political entities – including 19 parties and five coalitions – to contest the elections on 20 September.
Anarchy!
German Finance Minister Wolfgang Schaeuble sought to turn the tables on critics of his fiscal-discipline push, saying he’s actually the better Keynesian.
German Bonds Lose Their Appeal
Investors seem to be leaving aside the so-called safe haven of German bonds, the European benchmark
Election Watch: What are Greeks voting for?
By Nick Malkoutzis at Macropolis | Rarely has Greece gone into an election period with so many pieces in flux as it is now. The only thing we know for sure about the 20 September ballot is that we really can’t be sure of much.
ECB next stress test to affect just 50-60 banks
The European Central Bank will examine the European banking sector again in 2016. The stress test will maintain the same structure as in 2014, but the Asset Quality Review will not be carried out this time round.
And the Winner is (should be)…. Fiscal Policy!
PARIS | By Francesco Saraceno | So, Mario Draghi is disappointed by eurozone growth, and is ready to step up the ECB quantitative easing program. The monetary expansion apparently is not working out as planned.
Greek QE eligibility? We’re not there yet
By Manos Giakoumis at MacroPolis | Following the European Central Bank’s governing council meeting on Thursday, Mario Draghi provided more detail about issues relating to the eligibility of Greek government bonds (GGBs) for the Quantitative Easing (QE) programme and reinstating the waiver on Greek government securities for ECB funding.
Austerity Economics is Fraying Europe’s Social Contract
Conn M. Hallinan | On one level, the recent financial agreement between the European Union (EU) and Greece makes no sense. Not a single major economist thinks the $96 billion loan will allow Athens to repay its debts or get the economy moving anywhere but downward.