MADRID | By Luis Arroyo | Those who have already celebrated the euro comeback might be deluding themselves: investor confidence has changed gear because European peripheral risk at this point looks safer than some emerging economies’.
BRUSSELS | By commissioner Olli Rehn | ‘Yes, this slightly more positive data is welcome – but there is no room for any complacency whatsoever. I hope there will be no premature, self-congratulatory statements suggesting “the crisis is over”.’
LONDON | By Victor Jimenez | In a cautious tone common to other voices heard today in the City, analysts reminded investors that most governments in Europe continue amassing public spending bills worryingly higher than their income.
LONDON | By Richard Laming | Fixing the problems of the Greek economy is not simply a matter of attending to the public finances and is a task that will take many years. But is not in the nature of the international bond markets to give sovereign debtors that long.
PARIS | Calling on the expertise of the IMF helped save the euro at the height of the crisis. However, the personal involvement of the head of the ECB and the creation of specific financial tools have now made recourse to the Washington-based institution unnecessary, says economist Stéphane Cossé.
VALENCIA | By XTB analysts Miguel A. Rodriguez | Among all the obstacles that the European economies find in their way to recovery there is one particularly intractable: the Eurozone’s central bank itself. The ECB has proved to be too slow, and extremely fearful to display its powers.
BARCELONA | By Enric Fernandez | Both institutions and culture have a lot of inertia. There is no doubt, however, that this is much more the case with culture. Implementing a cultural change is surely impossible in the short term.
LONDON | By Victor Jimenez | What sounds optimistic for Italy and Spain can dampen the picture of Germany as almost unassailable European economic engine. The IMF alerted that the German over-reliance on exports would cut down its growth.
MADRID | By José Hervás | European commissioners and top officials can receive up to 70% of their salary when they retire, which in most cases translate into more than €10,000 per month.
PARIS | By Gregoire Fleurot, via Presseurope.eu | To overcome the crisis, many European countries are thinking about cutting back on paid holidays. A tempting idea, but one that could prove counter-productive.