By Julia Pastor, in Madrid | The Italian Prime Minister Mario Monti visited Berlin last week to meet with German Chancellor Angela Merkel. Monti, who was interviewed by the German newspaper Die Welt did not hesitate, despite his admiration for Germany, to criticise the actions of the Franco-German axis in resolving the debt crisis. “Angela Merkel and Nicolás Sarkozy cannot lead the European Union by themselves,” he said. Moreover, in…
LONDON | Analysts at Forex, the retail division of Gain Capital, a global provider of online trading services, expect worldwide economic growth to stall, increasing the possibility of a global recession. As a result, they foresee the USD becoming a global safe haven, taking strength from repeated waves of risk aversion triggered by potential events such as EU sovereign ratings downgrades, weak economic data, and ongoing credit market stresses in Europe. The 1Q…
MADRID | All the Spanish press reported the new Minister of Economy, Luis de Guindos’ statements when he confirmed on Tuesday what everyone already knew: that Spain would go into recession in 2012. According to his predictions, the first trimester of 2012 will register a negative growth, just like the last trimester of this year in which the GDP will decrease by between 0.2% and 0.3%. During the inauguration of…
As published by the German newspaper Die Welt, chief economist of the European Central Bank Jürgen Stark believes that Spain is a good example of how a country can reduce its risk premium by implementing the right adjustment measures. The Spanish daily Expansión refers to his declarations in Monday’s edition. “In an interview given to the German paper, Die Welt, the member of the ECB points out that ‘Spain and other countries…
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. Discounts in US retail sector, too In short: the euro has no hope yet What the central banks should be doing next Putin’s Russia has opposition, but it doesn’t have a leader Hello, Europe! Do…
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: Why there is further pressure about to fall all over the euro Who’s blocking the Congressional Insider Trading Act? The EU is about to invade Great Britain!!! What David Cameron really, really wanted What have…