One of the main reasons that Alexis Tsipras wanted to hold elections as soon as possible after agreeing the third bailout in August was that it gave him the best chance of obtaining a fresh mandate before the impact of the latest set of fiscal measures was felt by the average voter.
A new round of mergers amongst Spanish banks could just be round the corner. The Bank of Spain has also added its voice to the market rumours, the “off the record” comments from bank directors and the warnings from international organisations about the sector’s delicate health.
Jens Bastian via Macropolis | The 49 prior and pending actions that have to be adopted by the Greek government by mid-October in order for urgently needed financial assistance to be released are a work in progress taking place under severe time constraints.
What really shocked the markets was not the Fed’s decision to maintain zero interest rates for a few more months, but the statement that accompanied it.
ATHENS | By Nick Malkoutzis via MacroPolis | Working out how Alexis Tsipras went from anti-austerity crusader to comfortably winning an election while promising to implement the third bailout, and in the process turning a resounding “No” in the July referendum to a humiliating “Yes” a week later, is something that political scientists will study for years to come.
MADRID | July 23, 2015 | By Francisco López | Until just over one year ago, funds with high exposure to emerging economies were the start product. Now the trend has reversed. Investors are rolling back their positions due to the vulnerabilities that present many countries due after the fall in commodities prices, China’s economy slowdown and expectations of US Fed rates hike.
LONDON | July 13, 2015 | By Sigrún Davídsdóttir | Many controlling shareholders in China have pledged shares as collateral for bank loans – this was a common practice in Iceland up to the October 2008 banking collapse. Now this practice seems to be causing share trading suspensions in China.
BEIJING | July 10, 2015 | By Alberto Lebrón | Can you imagine a country capable of losing, in just three weeks, nearly five times what Greece owes the Troika? Chinese stock markets have lost ten billion yuan. In euros, that is almost one and a half billion, more than Spain’s entire GDP.
MADRID | June 18, 2015 | By Luis Martí | The negotiating tactics of the Greek government can only be understood against the backdrop of an impossible set of electoral promises –impossible, that is, unless the government gained access to an unlimited inflow of financial resources from abroad at no charge. This not being the case, President Tsipras has to act within a constrained framework.
MADRID | May 22, 2015 | By Francisco López | The Spanish economy is beating new records mainly thanks to external factors. According to the latest data, exports of goods totalled €23.2 billion in March, the best monthly figure since 1971. The euro price fall has been crucial.