For The Professional Investor
Cyprus has taken a very important step in normalising the banking sector with the recapitalisation of Bank of Cyprus (“BoC”), and the exit of BoC from the resolution process. A common announcement by the Central Bank of Cyprus and the Ministry of Finance marked the end of the resolution process for Bank of Cyprus. A […]
Read this article »
Italy’s parliament has given final approval to measures to tackle the country’s record-long recession, including tax breaks for firms that hire young people and a delay to a planned sales tax increase. The package pushes back a 1 percentage point rise in the main rate of value-added tax, currently 21 percent, to October from July. […]
Read this article »
The ailing Eurozone is now officially in its longest ever recession, once again prompting speculations about the single currency’s future. Signs of crisis are clearly visible as nine out of 17 eurozone nations are in recession with Francois Hollande’s France joining the list of economic underachievers. The GDP of 17 eurozone countries shrank by 0.2 […]
Read this article »
German Business Activity Down The Eurozone figures for France are looking slightly better, but the country known as Europe’s powerhouse is showing signs of economic decline following weak PMI numbers released on Tuesday. The survey conducted by Markit revealed surprisingly bad data coming from Germany, largely considered as the backbone of the Eurozone economy. Usually […]
Read this article »
Eurozone ministers meet in Dublin on Friday to discuss Cyprus bailout and the possibility of extending rescue package repayment dates for Ireland and Portugal. The first item on the agenda is Cyprus as ministers are readying for heated deliberations over the bailout conditions in exchange for the 10bn euros from the Eurozone and the International […]
Read this article »
Reports this morning suggest that Spain is in the throes of an ever-deepening financial crisis. The country’s industrial production took another dive, falling by 6.5 per cent in February compared to the corresponding month in 2012. Earlier this morning, during a speech to the country’s parliament, Spain’s Prime Minister, Mariano Rajoy appealed the eurozone for […]
Read this article »
A poll released on Tuesday found that an overwhelming majority of Germans oppose a return to the Deutschmark…
Read this article »
The former British Prime Minister Margaret Thatcher, who passed away yesterday, was a ferocious critic of the single currency. Her prophetic words ring true today as we are witnessing an unprecedented wave of failing economies across the eurozone. “Every single fixed exchange rate has cracked in the end. We’re all at different levels of development […]
Read this article »
The euro was trading around $1.30 against the dollar during Monday afternoon trade, anticipating bleak news from any one of the zone’s troubled economies. Following Cyprus and recently Slovenia – Portugal has now appeared as the latest patient in need of potentially instant care. On Friday Portugal’s high court ruled that the country’s plans to […]
Read this article »
A world-renowned Belgian economist, Paul de Grauwe told Finnish daily Helsingin Sanomat on Sunday that the eurozone will self-implode within 10 years. De Grauwe said that eurozone decision makers, led by Finland, Germany and Holland, have made a number of serious mistakes in managing the current crisis. These countries have demanded steadfast economic growth from ailing […]
Read this article »