AXA IM | A number of political developments are likely to trigger volatility in 2016, especially around the month of June. However, the real risk lies in the longer term. For the first time since the 1950s, EU- scepticism is threatening the European project not just to stall, but to step back. Political risk in the euro area has taken a backseat in recent months.
Christine Lagarde’s two-day-visit to China concluded on Monday without any specific agreements on how Beijing will fend off financial risk. But Premier Li Keqiang insisted that they will use all the tools available. Trillions of renminbi of debt have built up in the Chinese economy as a result of decades of stimulus and easy credit.
Yiannis Mouzakis via Macropolis | The IMF formally announced last week that it changed the policy of exceptional access criteria, in essence reversing a highly political decision of the Fund back in 2010, a decision that saved the euro and paved the path for half a decade of economic devastation that sealed Greece’s fate.
Yiannis Mouzakis via Macropolis | During 2015, Greece’s ability to meet its debt obligations became one of the most drama-ridden aspects of a story that started unfolding when SYRIZA won the January elections.
Nick Malkoutzis via Macropolis | There are probably a number of officials in European capitals, and perhaps Washington, who have been scratching their heads over the past few days after the Greek government indicated that it would prefer the International Monetary Fund not to be involved in the country’s bailout.
BARCLAYS | Argentina’s incoming finance minister, Alfonso Prat-Gay, has made some important statements about short-term economic policies. We think that his comments are steps in the right direction and indicate pragmatism, in that they seek a solution to economic problems while addressing restrictions imposed by social, political, and economic realities.
Yiannis Mouzakis via Macropolis | The head of the European Stability Mechanism (ESM) Klaus Regling leads an organisation that in its previous form as the European Financial Stability Fund (EFSF), issued loans of 17.7 billion euros to Ireland, 26 billion euros to Portugal and just under 131 billion to Greece.
Fernando Barciela | The IMF and other international organisations including the OECD are very worried these days that the global economy will only grow 3.3% or less this year. On the other hand, they are very happy about Spain achieving the same level. Why? What makes the diference?
By Jarno Lang | On June 29, under the leadership of China, 50 founding members signed contracts to create the Asian Infrastructure Investment Bank (AIIB), with its main hub in Shanghai.
IMF praises Spanish strong recovery but recommends additional reforms to strengthen growth and accelerate the fiscal consolidation.