Category: Eurozone

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THE ECB GOVERNING COUNCIL MEETING: HEAR YE HEAR YE

Link: what’s at stake. This meeting sounds a lot like every meeting that has happened recently (see here for a list of how frequently the ECB governing council meets – about once every two weeks). Each one is hyped as “the one where they come up with a plan to save the euro”. And in the press conference […]

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G-8 says Greece should stay

The article of the day. Link: Uh huh – but what if it’s too L-8. Mr. Obama is supporting Mr. Hollande in his pro-growth policies. And poor Angela M is finding herself the last austerity stalwart/bulwark/any-other-misunderstood-nouns. My question: should Obama really be dishing out the economic advice? Yes – things look to be improving in America […]

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Daily News Roundup 2012: Thursday 17 May

Good morning The headlines: The Democrat Senate rejects five different budget plans. Link: WHAT is going on? It seems that the Republicans used some obscure rule to force the Senate to rule on all their proposed budgets (in a single day?) –  as an attempt to embarrass the Democrats for failing to organise a budget for the […]

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Daily News Roundup 2012: Tuesday 8 May

Good morning The headlines: Consumer credit in the US is growing. Consumer credit “surged” in March: its largest monthly movement in a decade. The increase came mostly from new car and student loans (but the indicator released by the Fed doesn’t track home mortgages – so where else is the increase going to come from?). […]

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Daily News Roundup 2012: Monday 7 May

Good morning The headlines: Sarkozy is no longer: enter Hollande and the French Socialists. So the Socialists have won, and Hollande rides into French Presidential power on the back of “No to austerity”, “I’m not Sarkozy” and “No more presidential bling-bling”. Actually – that’s not entirely accurate. The parliamentary elections still need to take place […]

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Daily News Roundup 2012: Friday 4 May

Good morning The headlines: After all the excitement of the last few days, Mario Draghi says nothing about further stimulus in the Eurozone. The official position of those expecting stimulus is “saying nothing means that he’s leaving the option open”. The argument about austerity is now a boring one: austerity kills growth and therefore the […]

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Daily News Roundup 2012: Monday 30 April

Good morning The headlines: Hedge funds are betting against the Eurozone. There is a core group of hedge fund managers (including John Paulson – who keeps being mentioned in books written by Michael Lewis) that has been rejoicing in the Long Term Refinancing Operations of the ECB. The theory is that German bonds are underpriced […]

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Daily News Roundup 2012: Tuesday 24 April

Good morning The headlines: To make an observation about a general trend, the peoples of Europe are making their opposition to austerity measures known. France has just delivered a defeat to Sarkozy in favour of Hollande (the observation that keeps being made is how Sarkozy is the first incumbent to not come first in a […]

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Daily News Roundup 2012: Thursday 5 April

Good morning The headlines: In Eurozone news, the pressure is properly hyping around Spain. This after the near-tragedy of Spain’s debt auction yesterday. Spain sold 2.59 billion euros worth of bonds in the auction – which was just above the minimum amount that it had planned, but well below the maximum of 3.5 billion. At […]

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Leaving the Euro: Such a Cost

All of them.

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