Thursday’s chart: Quo Vadis, Italian yield?
Contagion has been bucked in the eurozone, in spite of the instability markets forecast over Italian politics.
ireland
Ireland would grow further if fiscal cuts were less harsh, says Barclays
Although Ireland’s economy seems to be improving, Barclays warned that fiscal adjustments hit employment figures and disposable income.
Why the Irish model wouldn’t work for Spain
By Luis Arroyo, in Madrid | Ireland has began to get out of the pit of its crisis and the usual suspects have wasted no time in coming back to tell Spain that it can be done, austerity only is the key. Ireland has gone through a fair amount of pain just to get its head above the water line. A bad bank with the wrong estimations and a bailout…
BNP Paribas expects Spanish house prices lower than in audits’ base scenario
can you refinance mortgage with bad credit A drop of merely 10 percent in house prices between 2012 and 2014? BNP Paribas believes trends in Ireland and the US make the case for further value losses in Spain. Independent auditors of the Spanish banking sector Oliver Wyman and Roland Berger described their base scenario for the country's housing market in line with the International Monetary Fund's forecasts, and pointed at…
The Irish referendum, as seen from Madrid: don’t be trouble, get in!
MADRID | While in Spain the formalities for the approval of the European Fiscal Treaty that was agreed last month by 25 countries of the EU are being carried out virtually unnoticed, Ireland announced February 29 that it will submit the matter to referendum. Despite this display of democracy, it is precisely just a display. Under no circumstances would Dublin’s ‘No’ paralyse the entry into force of the pact because it…
LHC.Clearnet cuts down by 10pc the additional margin for Irish bonds
LONDON, MADRID | Ireland and Greece appear this week at the opposite ends of the rainbow. Santander credit research team painted Thursday an optimistic picture in its investors’ note based on the news that LHC.Clearnet has cut down by 10pc the additional margin it requires, which was 25pc, for positions in Irish government bonds cleared through its RepoClear service. A more relaxed market environment has also prompted Ireland to increase asset sales to €3…
Brave green shoots from Ireland, Spain
The EC proposes to reduce to 3.5% the EFSF's rate for Ireland and Portugal
The EC proposes to reduce to 3.5% the rate applied by the EFSF to Ireland and Portugal, now at 6.5% and 5.5% respectively, and Madrid’s financial City welcomes the idea. For Banco Santander, “The European Commission yesterday proposed reducing to 3.5% the interest rate charged by the EFSF to Ireland (currently over 6.5%) and Portugal (5.5%), and extend the debt maturities to 30 years. This proposal is the result of…
The EC proposes to reduce to 3.5% the EFSF’s rate for Ireland and Portugal
The EC proposes to reduce to 3.5% the rate applied by the EFSF to Ireland and Portugal, now at 6.5% and 5.5% respectively, and Madrid’s financial City welcomes the idea. For Banco Santander, “The European Commission yesterday proposed reducing to 3.5% the interest rate charged by the EFSF to Ireland (currently over 6.5%) and Portugal (5.5%), and extend the debt maturities to 30 years. This proposal is the result of…