Top Stories

In Europe

No Picture

In Europe 13th November 2013

Spanish and Italian inflation wrap-up: Services and food driving inflation down

LONDON | By Barclays analysts | Taking into account today’s downward revision in Spanish HICP, we now revise our October French HICP forecast from -0.2% m/m (0.6% y/y) to -0.1% m/m (0.7% y/y). The Italian final October HICP inflation rate was revised up by 9bps to 0.76% y/y. We note that historical subcomponents indices have been revised since the beginning of the year (although not the headline index). This nonetheless does not alter our view that euro area HICP inflation rate should come in unchanged at 0.7% y/y. If anything, we see slight downside risk to our 116.99 HICP ex tobacco projection.

EU Budget copy

In Europe 12th November 2013

EU Budget: Deal agreed for 2014

BRUSSELS | By EU observer via Presseurop | Negotiators from the Council for the European Union and the European Parliament agreed an EU budget for 2014 in the early hours of November 12, bringing the prospect of an agreement on financing for the 2014-2020 period a step closer, writes news website EUobserver.

spain corruption

In Europe 11th November 2013

Why is Spain Under Suspicion- A Foreign Correspondent’s View

MADRID | By Stefanie Claudia Müller | Foreign media is astonished by how rarely Spaniards seem to protest against corruption within their own state. Although the correspondents try to sell these stories, at home no one seems to be much interested in publishing them, because the fact of a corrupt Spain is according to many European newspapers “old news.” This highlights the fact that Spain’s image problems are not recent.

Mortal disagreement in and for the euro

In Europe 11th November 2013

Mortal Disagreement In and For the Euro

MADRID | By Miguel Navascués | There is a harsh disagreement in the euro zone: when Mario Draghi tries to do something, he finds the opposition of Germany and its allies. It seems obvious that Europe won’t get out of the hole with such travel companions.

European Cultural identity

In Europe 11th November 2013

European cultural identity? A matter of dialogue

ROME | By Umberto Eco at L’Expresso via Presseurop | In the midst of the World War One, Marcel Proust created characters who, in spite of the conflict, were attracted by German culture. Proof, according to semiotician Umberto Eco, that cultural exchange has contributed more than anything else to the building of today’s Europe. 

Tenerelli fund manager investing in Spain

In Europe, Spanish economy 11th November 2013

Tenerelli, the fund manager who ‘discovered’ Spain in the midst of the crisis

WASHINGTON | By Pablo Pardo | Dean Tenerelli started investing in Spain one year ago. At the time, many of his colleagues thought that he was going too far. Certainly, he went further than anyone else. But, so far, his bet is rendering excellent yields. Tenerelli manages the T. Rowe Price European Stock, a SICAV with more than $900 million (approximately 700 million euros) in assets, of which around $150 million are in Spanish companies shares. Now, others, such as Bill Gates, Warren Buffett and Carlos Slim, have followed this manager’s example and have started to pour money into Spain. Tenerelli has talked with The Corner over the phone about his experience.

No Picture

In Europe 8th November 2013

What are the ECB and Draghi Scared Of?

MADRID | By Fernando G. Urbaneja | In a surprising move, the European Central Bank cut interest rates on Thursday. This is just a sign of the multiple fears shared by the institution and Mr Draghi: the ghost of deflation, the need for credit or the European prices and asset inflation. But both Mr Draghi and the ECB’s credibility have been boosted lately. What are they scared of then?

[Video by FT: “Is Europe getting deflated?”]

No Picture

In Europe 8th November 2013

Germany and its Excusiato Non Petita

MADRID | By Luis Arroyo | Germany prevents the monetary expansion in the country (and within the rest of the euro zone) by controlling the ECB. If the central bank had the minimal amount of money necessary for the area, all of it would go to Germans, who would spend more, thus accelerating the recovery of their European partners.