Search Results for ten lost months

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Greece’s Odd EU Presidency 2014

BRUSSELS | By Jacobo de Regoyos | Athens will preside over the European Union for next semester as their citizens take the streets against budgetary cuts and 30% of their population is unemployed. For some, this magnificently ilustrates what an united and supportive Europe means. For others, allowing Greece, under creditors’ surveillance, to be an international reference during half a year is some sort of a risk. In order to avoid gloomy predictions, Foreign Affairs’ Minister, Evángelos Venizelos, has promised hard work and austerity:  “A spartan presidency with Athenian values”.

Iran Baby Steps in nuclear deal

Iran: Baby Steps in Nuclear Deal

LONDON |By Barclays analysts | The interim nuclear deal concluded this weekend marks an important first step that could eventually lead to the normalization of relations between Iran and the west. However we believe the path to a final deal, one that would lead to the removal of the most sweeping sanctions, remains challenging given that some key stakeholders could act as spoilers.

Spain A mild recovery arrived along with international investors

Spain: A mild recovery arrived, along with international investors

LONDON | By Barclays analysts | Several data releases over the past few days confirm that the Spanish economy has left behind a very long recession. The data confirm our view of a very gradual recovery in economic activity starting in Q3 2013 (seeEuropean Economics Quarterly, October 2013, for details). The economy grew at +0.1% q/q in Q3 13 after nine consecutive quarters of negative prints.

greece strike public sector

Greece: How Far Can Wages Plummet?

ATHENS | By Kathimerini via Presseurop | Whether they are recent graduates or older workers re-entering the workforce after a period of unemployment, Greeks of all ages must accept lower and lower wages. Recent graduates are not the only ones concerned. There are also those over 40 or 50 years old who have lost their jobs. If they find a new one, they cannot expect to ask for more than €700. How much can pay be reduced?

Europe Tobin Tax

Europe’s financial tax plan hits wall

LONDON | Via Presseurop | ‘The EU’s controversial “Tobin Tax” on financial transactions has been dealt a severe blow after the EU Council’s legal service judged the proposal “infringes” EU treaties and is “discriminatory” to states which do not take part, reports the Financial Times.

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Egypt coup endangers its natural resources

By Antonio Sánchez-Gijón, via capitalmadrid | In little more than fifty years, Egypt has gone from being the country with almost absolute power to regulate the use of the Nile, to be forced to negotiate with all countries upstream.

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Italian exports too little for ailing economy

MADRID | By Julia Pastor | Unlike Spain, where the external sector is supporting the economy, Italian exports fell by 1.9% in 1Q13, its worst register from 1Q09. The country’s GDP dropped by 0.6%, and April’s industrial production by 0.3%.


The Enduring Glow of Gold

BEIJING |  Caixin Magazine | A ripple of skepticism recently hit prices of the yellow metal, but gold remains the ultimate hedge on inflation, as former Morgan Stanley’s Chief Economist for Asia Pacific Andy Xie explains. The global economy has already entered into stagflation with a growth rate of 2 percent and inflation at 3 percent. The inflation rate is likely to rise above 4 percent in 18 months while the growth rate will remain stuck in the same range. With inflation twice as high as the growth rate, the global economy will slip deeper into stagflation.

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Italian government says andiamo, Europa!

MADRID | By Antonio Sánchez-Gijón (Capital Madrid) | What is on stake for the new Italian government? The country is living in a contradiction: on one hand it has debt and risk premium under control, but on the other it is struggling with a deep economic crisis. Moody’s has corrected its 2013 GDP forecast set so far at -1%, and has placed it at -1.8%.