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The meeting of G20 finance ministers and the IMF over the weekend has failed to calm market nerves over the Euro zone debt crisis. Euro zone nations talked of increasing the €440bn rescue fund with a figure of €2 trillion being suggested. However, there was no evidence of how this…
Whilst shaving this morning some of the headlines which were rolling off the Radio were ‘the end of the world’, ‘dangerous times’, ‘a return to military rule’ and finally my favourite ‘apocalyptic’, which in its very meaning suggests the end of the World, or at least an imminent disaster. So…
The Bank of England decided unanimously to leave its Bank rate at 0.5% all time low, according to the minutes of the latest monetary policy meeting, that also showed an increasing consensus on the need for more quantitative easing as the Bank observes weaker growth in the second half of…
This week looks set to be dominated by reports and rumours, rather than economic data. The Guardian newspaper reported yesterday that France and Germany had agreed to boost the Euro Zone rescue fund to two trillion Euros. However, with German policy maker’s cueing up to deny that any immediate solution…
Yesterday’s euphoria over the prospect for a comprehensive solution to the eurozone debt crisis was given a hefty reality check by German Finance Minister Schaeuble yesterday afternoon. Speaking at Chatham House he baldly stated that ‘we won’t have a solution this weekend’ as part of what appears to be a…
Risk aversion continues to ease as markets look forward to an end of the eurozone debt crisis. The weekend G20 Finance Ministers and Central Bank Governors meeting in Paris looked forward to the outcome of the European Council meeting on October 23rd to ‘decisively address the current challenges through a…
Finance ministers and central bank heads from the G20 to discuss the deepening European Debt crisis. With the next G20 meeting in Cannes being targeted to announce a solution, this meeting is being viewed as another opportunity to place pressure on the Euro zone states to find a solution to…
Despite a rally on Wall Street and through Asia, European bourses are expected to open lower this morning. Asian markets responded to a strong Australian employment report, which followed a pattern of strong data over the past week. There had also been a positive reaction to EU Commission President Barroso’s…
The Troika yesterday approved the release of the next €8billion payment to Greece. However, progress on the countries austerity measures was described as patchy, and the Troika warned that additional measures would be needed to meet its 2013 debt targets. This may be easier said than done, with practically the…
Chancellor Angela Merkel’s spokesman has warned markets to lower expectations for a “miracle cure” to the Euro zones crisis. This came on Monday – one day after the statement from the meeting with Sarkozy and Merkel, where they promised a comprehensive new package for the Euro zone. The problem is…