LONDON/MADRID | Eurogroup leaders must be helplessly looking at the other side of the Atlantic with at the very least a moderate degree of envy: job numbers are improving at a pre-crisis rates.
SAO PAULO | By Marcus Nunes | This “resumption of growth” view has spread like ‘bush fire’. But why?
MADRID | By Julia Pastor | Repsol’s sites in the United States will receive 30% of almost €3 billion total investment, followed by Brazil, which will be assigned 21%.
NEW YORK | By Ana Fuentes | The last huge tornado in Oklahoma could cost as much as 2 billion dollars. The center of the state has been devastated, 24 people dead, around 13,000 homes destroyed, cars and schools totally ruined. The final bill for the State, the regional government and private insurers is going to be one of the highest in US history.
BEIJING | Caixin Magazine | A ripple of skepticism recently hit prices of the yellow metal, but gold remains the ultimate hedge on inflation, as former Morgan Stanley’s Chief Economist for Asia Pacific Andy Xie explains. The global economy has already entered into stagflation with a growth rate of 2 percent and inflation at 3 percent. The inflation rate is likely to rise above 4 percent in 18 months while the growth rate will remain stuck in the same range. With inflation twice as high as the growth rate, the global economy will slip deeper into stagflation.
The European interchange fees reduction project is very similar to the measures adopted by the Spanish Government in 2005. However, several studies show that measures adopted to reduce interchange fees have finally harmed consumers, as French site Bursorama points out. Is there any ideological agenda behind it?
The Fair Observer | It is easy to say that Europeans should have more sex. Demography is destiny, after all, or so it has seemed for millennia, and what could be better than sleeping your way to world power? Despite the financial crisis, a diminishing birth rates and seemingly unsustainable welfare states, Glenn Carle believes German leadership might offer a solution for structural reform in Europe.
MADRID | By Tania Suárez | Director of financial analysis at Profim EAFI, Jose Maria Luna Morales, argues that austerity measures in the euro zone were “necessary” but adds that “some privileges of many public institutions can still be reduced”. He also notes that although “Europe still may suffer months of stagnation”, that does not imply “a long period of stagnation'” for the EZ as a whole.
NEW YORK | An encrypted virtual currency traded over the Internet that can be purchased through online exchanges using real money. Four years ago bitcoin seemed like sci-fi but today it is already a 1-billion-dollar market. And many businesses are accepting it as a payment currency. Anthony Gallippi is CEO of BitPay, an Atlanta based Payment Service Provider (PSP) specializing in eCommerce, B2B, and enterprise solutions for virtual currencies. He explained to The Corner how BitPay enables companies to jump on the bitcoin bandwagon.
BEIJING | By Wang Yuqian and Yang Lu (Caixin Magazine) | What caused the precipitous decline in the price of the precious metal? And how do analysts in China see it? Three experts come up with different explanations, from investor panic triggered by the European debt crisis to, more bizarrely, a conspiracy theory that the U.S. government orchestrated the collapse.