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In Europe 20th April 2012

France most vulnerable to political risk in the euro zone, says Schroders

LONDON | In its global macro outlook report, investment company Schroders said on Friday that its eyes were on France amidst ongoing euro zone concerns and despite the uncertainty surrounding Spain. The upcoming elections could thwart France’s plans to implement State budget cuts, the Schroders paper highlighted, while the European Central Bank refinancing lines would have ring-fenced the Spanish banking sector from liquidity scarcity, unlike Italy’s. “France is the euro zone member currently…

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In Europe 5th April 2012

Easter read (1) | Two years digging an empty grave for the euro

Many economists and the Anglo-Saxon financial gurus have been killing the euro month after month since early 2010. But, even if their doomsday predictions have miserably failed so far, their negative influence over the markets can not be neglected. By Fernando Barciela, in Madrid | In one of his recent and terrifying articles  about the euro and the sovereign debt crisis in the Financial Times, ‘There is no Spanish siesta for the eurozone‘, Wolfgang Münchau found that many…

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In Europe 16th March 2012

Peter Temin: “Merkel acts like Chancellor Bruening in 1931”

By Gustavo Matías | Professor Emeritus at MIT, Peter Temin understands why German Chancellor Angela Merkel bullies everyone into austerity. But he disagrees. Temin believes too many, too deep budget cuts can prevent countries from paying their debts as it has already been the case in Greece. So Germany could destroy the euro and put the global economy under risk? Something similar happened in 1931, also because of Germany’s influence, and led…

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Markets 12th March 2012

Threadneedle: healthy demand for equities after liquidity boost in EU, UK, Japan

LONDON | Global asset manager Threadneedle pointed at liquidity operations carried out by most G20 governments as the primordial reason behind the recent rally that the equity sector has experienced. “We see the LTROs, the recent £50bn extension to quantitative easing by the Bank of England and the ¥10trn increase in the Bank of Japan’s asset purchase scheme as activities that boost liquidity and are likely to increase demand for…

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Markets 3rd February 2012

Mild recession but EMU intact, says NIESR

LONDON | The London-based National Institute of Economic and Social Research on Friday put its baseline forecast for global growth on 3.5% for 2012. The NIESR gave next year a slightly higher growth rate probability of 4%. In both cases, the Institute assumes a downward revision of about 0.5 percentage point in each year compared to its last forecast. The NIESR warned that the financial instability resulting from the euro crisis, combined…