The fact that the European Central Bank didn”t change its key interest rates or announce any new policy initiatives yesterday came as little surprise to financial markets. Neither were there any dramatic changes in the tone of comments made by ECB President Mario Draghi at the monthly press conference that followed today’s Council meeting of […]
Subtle Shifts In ECB Thinking Read More »
Just a short while ago the view was that the May ECB meeting would be a non-event. The meeting is scheduled to take place tomorrow in Barcelona. While we don’t expect the ECB to take new measures, economic and political developments have put the focus on the ECB once again. Although, it seems that they
What Will The ECB Do At Tomorrow’s Meeting? Read More »
There is one headline and discussion point, in relation to the Greece debacle, which constantly catches the attention IF you’re concentrating; “At stake is a target of lowering the debt to a more manageable 120 percent of gross domestic product by 2020. EU and IMF officials believe that target, which assumes Greece will run a
Is This What Constitutes 20-20 Vision For Greece? Read More »
The major market sell off experienced yesterday ‘across the board’ was due to the ECB revealing that it’s balance sheet had swelled to record highs as a consequence of its successful loan tender in the week preceding Xmas. As the deadline looms for bids in the Italian debt auction the bond markets reaction is bearish,
Pre Xmas Optimism Blown Away Due To The ECB's Swollen Loan Book Read More »
Whilst investors are winding down for the year-end and trading volumes are set to dwindle, the threat of mass credit ratings downgrades for the euro zone countries still stalks the market. However, the European Central Bank lending programme yesterday eased fears about an immediate ‘credit crunch’, although it’s not regarded as resolving the huge indebtedness
Investors Pause For Breath And Take Stock Read More »
The head of the world’s biggest bond fund said he sees a more than one-in-three chance that the euro zone will break apart in 2012-2013 and trigger a financial crisis akin to the one that devastated the global economy in 2008. “It would be the equivalent of a sudden stop” in which financial markets seized
Brothers In Arms Get Money For Nothing Read More »
“The Gold Diggers’ Song (We’re in the Money)” is a song from the 1933 film Gold Diggers of 1933, sung in the opening sequence by Ginger Rogers and chorus. The lyrics were written by Al Dubin and the music by Harry Warren. It became a standard and its melody is well known. Early renditions of
The Gold Diggers Song – We're In The Money Read More »
According to the International Monetary Fund (IMF) chief economist Olivier Blanchard the accord agreement reached by European countries during the summit on Friday morning of last week, calling for deeper economic integration, is a huge step in the right direction but falls far short of a complete solution for the euro zone’s debt crisis. European
Bundesbank Bunkers Down Read More »
The Merkozy alliance appear immune to the noise outside of the insular tent created for them by their various Eurocrats and mandarins. The economy of Europe is on a knife-edge and their message continues to be centred on “fiscal discipline”. Paris and Berlin apparently need to win backing quickly for their plan to amend the
Show Us The Money, The Euro Money Read More »
