Germany

Markets 17th July 2012

Everything you ever wanted to know about the EFSF/ESM

While waiting for the changes the European rescue fund needs to introduce in order to recapitalise the banking sector directly, especially the Spanish one, JP Morgan’s global equity department has made an interesting answer-question list with the main doubts that everybody could have concerning this instrument. The starting point could be the role of the European Financial Stability Facility /European Stability Mechanism until the last European Summit. Up to that…

Spanish economy 16th July 2012

One-off cuts in Spain will fail to impress markets

MADRID | One-off cuts and further squeezing measures have been taken in a desperate attempt to avoid budgetary discomfiture. By mid-term central government deficit had already attained its full year target, not to mention a regional and local performance no one knows for sure where it stands. A drastic brake to such blatant slippery became an unavoidable option. The markets and Brussels have done the rest. Free-running risk premium has not…

In Europe 11th July 2012

Emerging Europe: at two speeds

By CaixaBank research team, in Barcelona | As the year advances, it seems to confirm that the EU economies of emerging Europe are moving at two speeds, as is also the case of the European Union as a whole. Focusing on the five countries we usually review in this report (Poland, Slovakia, Hungary, Romania and the Czech Republic), the first two are keeping up a slightly faster pace in activity…

In Europe 10th July 2012

Germany can enjoy a weaker euro

LONDON | Germany's imports have kept growing year on year at a moderate pace, with a 2.9 percent increase recorded in May. So have its exports, too. The latest data confirm the German economy as the healthiest core of the euro zone, with an accumulated trade surplus of €73.8 billion in that month, up from the €62.9-billion surplus in the same period of time in 2011. Export activity, indeed, has…

Spanish economy 10th July 2012

Clueless Angela Merkel releases €30 billion for Spain’s banking bailout

how do i get back my ex girlfriend By Luis Arroyo, in Madrid | Changing the goal posts… Again, Brussels rectified. The euro finance ministers Ecofin made this morning the decision of not waiting until 2013 to release at least part of the capital aid package. A third of the total sum of €100 billion will be available in July. The connotations of this change of mind, though, go beyond…

In Europe 5th July 2012

Shortcomings of the euro will sooner than later emerge

MADRID | Have you noticed that since the Libor fraud has the dubious honour to receive full front page coverage, the euro zone troubles have been dumped into inside pages? No one raises doubts on the fragile agreement reached in the last Summit, thus providing some respite to the badly mauled Southern Europe countries. It would be quite unfair to imply there is some kind of Anglo-Saxon conspiracy against the common…

Spanish economy 4th July 2012

Barclays, Deutsche Bank play nasty in troubled Spain

By Tania Suárez, in Madrid | German and British banks are trying to woo the economic elite of the Spanish society, “la crème de la crème” of wealthy Spaniards. Or, in plain English: the ones with the big bucks. The uncertainty over the Spanish future is making the depositors nervous, and banks from the UK and Germany are trying to take advantage. According to this article of the online daily El Confidencial Digital, foreign…

Markets 3rd July 2012

Where Spain’s risk premium should be

MADRID | The cost excess the Spanish government pays for credit from the capital markets in comparison with Germany, which is considered the benchmark in confidence matters in the sovereign bond sector, has fallen since last week's euro summit. The main two reasons seem to be that the plan for financial aid for Spain to recapitalise its banks was somehow agreed by the euro authorities, and the possibility that the…

Markets 2nd July 2012

The EMU still needs fixing

MADRID | The Summit has just avoided the worst from happening. Super-Mario and an unexpectedly bold Mariano Rajoy achieved a coup d’état toppling Ms Merkel from her undisputed pedestal. Hollande’s support was vital in depriving her of her hitherto boundless power. Yet one has the impression we assisted to a rehearsed show meant to provide an excuse for Germany to cave in to pressure. Everyone was afraid of having to confront the…

Markets 29th June 2012

Euro stress-free area

By Julia Pastor, in Madrid | After so many fruitless meetings, conversations and rounds nobody expected that the European leaders would be able to reach a more than reasonable agreement for Europe, that tough Germany would relax its position towards its Southern partners, and Spain and Italy would resist before the steam engine of the euro zone. But it happened. Banks will be recapitalised directly with the European Stability Mechanism…

« 1 … 34 35 36 37 38 … 45 »