By Tania Suárez, in Madrid | Hanseatic Brokerhouse's director general in Spain, Gabriel Montalto, said in a conversation with The Corner that international investors have lost trust over Italy and Spain. Also, he considers that both countries will have to publicly accept the reality of the situation if they want to win back the confidence of markets. Question. Apart from the approval of the national parliaments, are there any other…
Financial deceit within institutions whose accountability is precarious has a multiplying effect. The abuse of money immediately passes for an embedded practice, and the actual size of the affair is consequently believed to be much larger. After all, as it happens with European Union officers, taxpayers would despair for the lack of their habitual democratic recourse to make those responsible feel their anger. That is why the latest data on…
LONDON | Morgan Stanley recently estimated that liabilities in fines and damages could amount to as much as $22 billion against the dozen banks allegedly involved in Libor-rigging. No one knows. The dimension of the case could scale up once brought to the courts of justice and the spillover on the markets would be extremely difficult to contain. The risk is all too evident. For instance, when Barclays was sentenced…
By CaixaBank research team, in Barcelona | As the year advances, it seems to confirm that the EU economies of emerging Europe are moving at two speeds, as is also the case of the European Union as a whole. Focusing on the five countries we usually review in this report (Poland, Slovakia, Hungary, Romania and the Czech Republic), the first two are keeping up a slightly faster pace in activity…
LONDON | Germany's imports have kept growing year on year at a moderate pace, with a 2.9 percent increase recorded in May. So have its exports, too. The latest data confirm the German economy as the healthiest core of the euro zone, with an accumulated trade surplus of €73.8 billion in that month, up from the €62.9-billion surplus in the same period of time in 2011. Export activity, indeed, has…
how can i get my ex girlfriend back LONDON | Will the trick of cutting the European Central Bank's deposit rate pay off? Everyone had noticed the extremely high levels of cash European banks left with the central entity for a mild profit in exchange of, well, nothing from their part. Particularly after the ECB made liquidity available, via its long-term refinancing operations, it was clear that the European banks…
By Julia Pastor, in Madrid | The European Union disbursed €52.97 billion on Official Development Aid (ODA) in 2011, which was €490 million less than the previous year, as well as €15.4 billion less than the amount that could be invested if member States would have remained faithful to their commitment of devoting 0.7% of their Gross National Income (GNI) to these matters by 2015. Instead, most of the EU…
how can i get my ex girlfriend back MADRID | The more Ms Merkel claims shoring up the euro to be her paramount goal, the less credible that pledge sounds. Real commitments should embody themselves into facts, words amounting to a rather futile substitute. Failing to address the current raging crisis casts serious doubts on how serious her voiced concern on keeping the common currency alive is. One has the impression…
From valenciaplaza.com | The president of the European Central Bank, Mario Draghi, fulfilled one more time what has become an uninspiring habit in relation to European equity markets and particularly in regard to the Spanish Ibex 35. Madrid closed Thursday with sharp declines again after the words of the Italian banker in the press conference that followed the meeting of the governing council of the central bank. In fact, the Spanish…
MADRID | The European Central Bank has entrenched itself in its own territory, delivering a conventional rate cut to address a downsize risk in economic perspectives. Output hovering around zero growth in Europe will drive inflation below targets, thus triggering the need to introduce some potential stimulus. But Draghi watered down Thursday’s rate decision, warning on the limited scope of lower rates when financial markets are so fragmented, risk perception…