By Alexandre Mato in BRUSSELS & Sean Duffy in MADRID | A day of hard negotiations finally produced a positive outcome.Greece will work throughout the weekend to ready proposals for Monday´s meeting, but politicans were visibly relieved after an arduous week.
MADRID| Sean Duffy | Markets likely to be turbulent today as problems mount in intractable Greek negotiations.
MADRID | By Ana Fuentes | She believes that central banks should act coordinately, since competition between them can cause currency distortions. British economist and former banker Frances Coppola has been one of the main critics of the European Central Bank’s QE “because it supports asset prices, but that is all it does.” She spoke to The Corner about shadow banking and how financials should be accepting and managing risk on both sides of the Atlantic.
MADRID | The Corner | In spite of, or maybe, thanks to the so-called Spailout (2012), Spain is today one of Europe’s driving forces. The International Monetary Fund’s estimates on global economy point to the country as the outperformer of the Eurozone for the first time in six years. Its GDP would grow by 2% this year and 1.8% in 2016.
SAO PAULO | By Marcus Nunes via Historinhas | It’s in the nature of the” widely held” IMF to have an upward bias in its forecasts, just as it is very hard for the CEO of a widely held group to go to the shareholders meeting to present dire forecasts.
BRUSSELS | By Alexandre Mato | EU finance ministers are meeting in Milan on Friday to focus on Ireland, Greece and Cyprus exit plan to leave their IMF-EU financial assistance programs. The much-needed debate about economic stimulus and growth is not on the agenda, nor will be Scotland, despite the thorny economic implications of an eventual yes vote in the upcoming referendum.
MADRID | By Ángel Maestro | August arrived with the positive outcome that the IMF Executive Board will support the economic reform program in Georgia with 154 million Stand-By dollars. Among the economic measures, paradoxically, to reduce the dollarization in favour of the home currency and the euro, in order to accelerate its economic and political stabilization process. Concerning the second is the macro-judicial processes that will begin this Saturday against its former President Mikheil Saakashvili in relation to abuse of power charges which have driven numerous concerns by several worldwide institutions and non-governmental organizations.
ATHENS | By Yiannis Mouzakis via The Agora | No matter what overall opinion you have of the Greeks, you really ought to hand it to us for tolerance. Over the last year and a half one of the three key players in Greece’s crisis management team has repeatedly and openly admitted that the prescription for addressing the country’s predicament was wrong.
WASHINGTON | By Pablo Pardo | Geopolitics have returned with a vengeance in Europe right when Barack Obama’s economist view of international relations seemed to be on track with the negotiations for the Trans-Pacific Partnership (TPP) and the Trans-Atlantic Trade and Investment Partnership (TTIP). The IMF warns that geopolitical risk is back on stage.