Week of Weak Announcements
It was the week of central bank announcements – Japan (we will describe it below), Britain and ECB. Bank of England and ECB policy remained unchanged which means that interest…
Spain is a real ticking time bomb.
It seems that currency wars are heating up. The US dollar has been depreciated by FED activities and Japan confirmed depreciation of yen last week. Now Swiss Finance Minister Eveline…
UK and Germany Were Downgraded
Fitch Ratings has downgraded the United Kingdom to ‚AA+‘ from ‚AAA‘. The outlook is predicted as stable. The rating action reflects a weaker economic and fiscal outlook and possibility of…
New Definitions
The ECB cut basic rates last week to proceed with verbal interventions this week as well. Mario Draghi said that they are ready to cut interest rates again if needed…
Is there any Grecovery or Spainovery?
Besides strong public statements from EU Commission bosses that EU is in turning point in crisis the reality is much worse. You can find one example in Greece. Public Power…
We Are Not Still Better Off
Euro zone finance ministers backed a 10 billion euro bailout for Cyprus and the European Commission would try to help the island’s economy grow again with better use of EU…
You could bet. Will it be Spain or Italy which breaks the Eurozone first?
Outcome of Italian elections has caused a chaos within the Eurozone. European leaders were honestly sad because of stalemate political situation in Italy. You could see during first days of…
Fiscal cliff remains unsolved
Britain started to flirt explicitly about the EU leaving scenario. President Obama´s administration was forced to admit after that it is the America’s national interest to have Britain as a…
ECB Confirmed Recession
At Bratislava´s meeting the Governing Council of the ECB rewrote the monetary history of Eurozone. Council decided to lower basic interest rates to 0.5 % starting from May 8th 2013.…
We Need Reforms
The European Central Bank warned about the risk of a renewed banking crisis. The main reasons behind are the euro zone’s slumping economy and a surge in problem loans. The…