Who’s Afraid Of US Corporate Debt?
US corporate debt rose to 45% of GDP at the peak of the Great Financial Crisis that began in 2008 , the same level it reached at the height of the dot.com bubble in 2000/01
debt
Going Around In Circles With Budgetary Stability
For a long time, Spain has had a “debt pending” in terms of budgetary stability. And, for the time being, the current scenario leads us to think that balancing the public finances is a difficult objective to achieve in the medium-term. Added to that problem is the high level of government debt.
Greece: the never ending story
At last, the Greek economy seems to be in a much more solid position. Greece once again saw positive growth rates in 2017 and it’s expected to maintain a growth rate of around 2% over the next two years. In spite of this, the financial sustainability of Greece’s public sector remains in doubt.
Italy’s government pact envisages cutting public debt; excludes bonds acquired by the ECB from debt calculation
Intermoney | The 5 Star Movement and La Liga finally reached an agreement to govern Italy on Thursday after more than two months of political deadlock. But it is still not known who will be prime minister.
The ‘antiestablishment’ pact in Italy augurs a rise in the country’s public deficit
Paula Sampedro (Link Securities) |There are various fronts open on the political front during this week. Specifically, the Italian political parties La Liga (extreme rightwing) and the Movimiento Cinco Estrellas (anti-establishment) are expected to present their programme for government to the country’s president Sergio Mattarella, after reaching an agreement to form a new government in Italy.
Telefonica Q1’18 net up 7.4%; revenues hit by currency pressures
Telefonica posted a 7.4% rise in net profit in the first quarter of 2018 to 837 million euros from a year earlier. The figure beat FactSet’s analysts consensus for net profit of 800 million euros. But revenues fell 7.2% to 12.19 billion euros, as currency pressures offset improvements in the group’s home market.
US Against Europe Economy: A Temporary Brake On Activity In Q1’18
The reasons behind the cooling off in activity on both sides of the Atlantic during Q1’18 are more important than the cooling off itself. In fact, the characteristics of these reasons are those which allow us to have confidence about the improvement in activity in the spring in both the US and Europe.
High Risk Spanish Budget; The Political Crisis Dominates Everything
It’s almost certain that the Catalan crisis will prevent the Spanish budget from being approved, which will be a blow to political stability and the duration of the current legislature.
Telefonica Will List Part Of Argentine Subsidiary (6% Of Ebitda)
Telefonica is starting the process of preparing a stock market listing for a stake in its currently fully-owned Argentine subsidiary. In the upcoming AGM on April 16, it’s expected that authorisation will be sought from shareholders to go ahead with the share placement.
Spain’s Autonomous Regions Return To The Markets
Although most of Spain’s public debt belongs to the central Administration, the debt held by the 17 autonomous regions is by no means insignificant: it accounts for 25% of Spain’s GDP, way above the 16% it represented just five years ago. Many regions are now returning to the debt markets.