The Corner | March 20, 2015 | There may be some volatility on European markets in the day ahead, as late night talks between the Greeek government and members of creditor nations, the European Commission and the European Central Bank failed to unlock funds for Athens’ faltering economy.
MADRID | March 17, 2015 | By JP Marín Arrese | The cliffhanger tactics applied by Varoufakis have backfired. He has lost precious time in his bid to baptise the barbarous Troika under the more Christian and palatable name of Institutions.
The Corner | March 16, 2015 | The week ahead is likely to be dominated by the FOMC meeting in the US. Market watchers are expecting some movement on the semantics of pronouncements by the US Fed. In essence, any change in language will signal that a rates hike from the central bank is drawing closer.
The Corner | March 13, 2015 | The ECB’s sovereign bond purchase programme has helped to reduce yields on Spanish bonds to record lows. Data from Italy is likely to show price falls in excess of 2%, while it will be no surprise to see further squabbling between Greece and its creditors over the weekend, particularly with yesterday’s intervention by the OECD.
ATHENS | March 12, 2015 | By Nick Malkoutzis via MacroPolis | At first it seemed like a harmless joke. “And now for one member state, all the men need to take off their ties,” said European Commission first vice-president Frans Timmermans at the end of a recent photo shoot for the College of Commissioners in Brussels. After all, the Greek government’s penchant for not wearing ties has been the cause of lightheartedness from the moment SYRIZA came to power.
The Corner | March 11, 2015 | Varoufakis set to raid Greece’s social security fund with IMF loan loan repayment imminent.
Intermoney | March 6, 2015 | From 2007-2015, global debt has increased 289% in excess GDP. The rapid increase of global indebtedness and financial asset prices could actually be defined as a global bubble with a major destabilizing factor: the significant surpluses accumulated by certain countries that force others to adopt a deficit position. International liquidity growth has only raised the volume of speculative money flows, which are now able to destabilise any economy, regardless of their economic virtues.
The Corner | March 5, 2015 | Markets are again looking to the ECB for a gauge as to where the continent is headed, with Mario Draghi expected to announce more detailed descriptions of the bank’s QE plan. Elsewhere, data from Germany, Italy and Greece are likely to highlight the divergent fortunes of countries within the single currency area.
ATHENS | March 3, 2015 | By Nick Malkoutzis via MacroPolis | There was a defining moment in the recent election campaign. It wasn’t New Democracy’s decision to go full negative by running a campaign ad that suggested Armageddon was around the corner. Nor was it To Potami’s claim that it would unveil its plan for reaching an agreement with Greece’s lenders after the elections. Instead, it came on a mild Thursday night in Omonia Square.
MADRID | March 3, 2015 | By JP Marín-Arrese | Greek Prime Minister Alexis Tsipras has unwisely accused Spain and Portugal of intentionally trying to block a solution for his country’s troublesome discussions with the Euro group at a Syriza party meeting. The reaction has gone beyond any reasonable limit. The two targeted nations filed formal claims to the European Commission asking it to take action against Greece. One wonders why their Foreign Ministries did not warn of the utter ridicule such a step would precipitate. Worse still, the row between EU partners might leave longstanding scars.