Greece has been in the news recently as the nation attempts another debt restructuring and writedowns of the public sector. This comes in preparation for the next bailout installment due in November. Italy’s 10 year BTP yields saw a spike from 2.28% to 5.015% as declining prices after reaching one month highs. European equity markets…
The Bank of Japan is expected to make a statement on Tuesday which is widely speculated to be an announcement for more policy easing measures in order to weaken the Yen. BoJ’s Tuesday meeting will be a closely watched affair as the central bank is expected to announce unorthodox practices in order to shore up…
A new proposed plan by German Finance Minister, Wolfgang Schauble to create a wider budgetary control for the whole of the EU economic bloc was endorsed by ECB Chief, Mario Draghi. The new proposed plans aim to boost confidence in the Eurozone. However what is left to be seen is how the individual EU member…
The IMF warned that the austerity measures imposed on Portugal as conditions for its bailout could have a bigger impact on the economy. Portugal will need to make tough policy choices in order to close its large fiscal gap. The report from the IMF was published on Thursday and comes at a time when the…
Santander, the biggest bank in Eurozone by market capitalization and the biggest bank in Spain has urged the Spanish government to seek international financial assistance to reduce the borrowing costs from lenders. Santander’s third quarter profit was adversely hit on account of bad property investment write downs. The bank’s Q3 profits dropped close to €100…
As we near the end of the year 2012, besides the US Presidential elections, there is another subject that has been a topic of discussion, especially in the economic circles in the US and it goes by the name of “The United States Fiscal Cliff“ The US Fiscal Cliff refers to a reduction in the…
After successfully completing its recent bond auctions, the Spanish Treasury Department announced yesterday that the nation was ready to start financing its budget for the coming year 2013. Most of the funding for the next year will be focusing on strengthening its 17 autonomous regional provinces, especially the cash strapped ones according to an interview…
ECB Chief, Mario Draghi at a press conference yesterday dispelled fears on the effect of the ECB’s bond purchase program leading to inflation. The EURUSD gained support at 1.29440 and was seen trading around the $1.30020 region. Economic data from the UK today is pointing to some positive news with signs that the British Economy…
Latest Eurozone PMI data for the month of October showed businesses in the region suffered the worst month since the past three years resulting in more job cuts. October PMI dropped to 45.8 from September’s 46.1. The PMI Index of 45.8 is the lowest reading since 2009. A value below 50 is considered to show…