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World economy 25th January 2012

That Lagarde’s speech [video]

Christine Lagarde, the International Monetary Fund’s managing director, was talking on Tuesday in Berlin about the obvious economic challenges in 2012, and a possible policy path for global cooperation to restore confidence and growth. Readers from around the peripheral European Monetary Union zone have convinced The Corner that Ms Lagarde’s words have achieved quite an echo among member states currently undergoing net austerity pressures. These are some of the most celebrated…

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Markets 23rd January 2012

Mr Geithner wins: CDSs today rule, yet only cover 1% of Greek sovereign debt

The press all over the world is debating the repercussions of the imminent agreement between Greece –and the EU– and the International Institute for Finance (IIF), chaired by Charles Dallara and which holds $206 billion of the the total $350bn of Greek sovereign bonds (the ECB has another $60bn). According to the Financial Times, the agreement would require a haircut of 68% but what seems to be the most difficult to issue…

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Markets 17th January 2012

Inverseguros’ Alberto Matellán: “The Euro could go below $1.20”

By Alfredo Aranda, in Madrid | The course of the euro seems to be clearly bearish, according to some analysts. However, in contrast with previous situations, the depreciation of the single currency is more the result of the actions of the ECB than due to traditional factors such as monetary or economic policies. According to Alberto Matellán, the liquidity injection carried out by both the Fed and the ECB are directly…

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Markets 16th January 2012

Barclays: “S&P will not cut any sovereign rate in a one or two-year period”

By Julia Pastor, in Madrid | After some weeks of good tone in the European stock markets, they suffered the consequences on Monday of the massive rating cut by S&P last weekend. The Ibex35 woke up today with shares drowning in red, except for Ebro Foods and Gas Natural, and is being dominated by volatility for the rest of the day.However, it is the rating agencies’s credibility which is being called…

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aggregation line 14th January 2012

Weekend link fest

A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions. The euro debt drama explained in 100 words It’s not the banker’s pay system, populace! EC’s Tajani: don’t worry Cameron will U-turn Former Santander banker, now Lloyds boss says no to bonus Manufacturing jobs rise…

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Spanish economy 12th January 2012

“Spain will do everything it needs to do,” says the minister of Industry to investors

By Julia Pastor, in Madrid | The second edition of the Spain Investor’s Day started on Wednesday. This event presents itself as “a unique project in Spain, the great personal encounter of the global investor with Spanish issuers and businesses. Its permanent objective is to present Spain at its highest level as the investors’ destination”. The meeting gathers major listed companies and major institutional investors in order to generate contacts,…