picture: EuroCrisisExplained.co.uk

Unexpected news came from Scandinavia last week. Sweden will have lower corporate tax rate than Slovakia! Last Thursday Swedish government announced its intention to lower tax rate from 26,3% to 22% in order to „strengthen climate for investments and growth“ in the country. Well,  even Scandinavian socialism is not what it used to be. Truly shocking news from Southern Europe: Greece will need a third bailout.  According to the country’s representative in the negotiations of…

barosso slova

The Hot Wednesday wasn’t that hot after all. Greece denies need for the third bailout package. Spaniards don’t want any bailouts either. Rompuy has a plan. Americans don’t want to be left behind. The Judgment Day came, but it didn’t bring any shocking surprises. Bailout mechanism is not against the Constitution in Germany and the parliament can ratify it. The opponents got a little gift at least, the court forbade automatic ESM increasing over the initia capacity,…

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Is the last fortification falling down? Spain used backup. American debt can ask for a driving license. And Bulgarians are ungrateful. Silly season ended in a big style. ECB decided on its meeting last week to resurrect the program of purchasing bonds of the problematic states under a new label. Forget SMP, here comes new and better OMT – Outright Monetary Transactions! Apart from bubbles of active oxygen, it also offers lack of limits, sterilization and consolidation….

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In Spain it will be hot after the summer. Judgment day will be on September 12. Did you sell grandfather’s gold teeth in Italy? We are treating depression by delivering news about bad situation our neighbours are in. The heat is slowing down the pace of society, but if you think it will slow down the pace of the crisis in the Eurozone, you’d better check if you don’t have sunstroke. Even though the news…

picture: CarbonQuilt

While the “green” countries like Austria or Switzerland are slowly surrendering the dream to reach the carbon dioxide limits set by the Kyoto Protocol, one of the few countries, which will probably reach them, is USA. Those United States, which refused to ratify Kyoto and were strongly criticized by the western world community for this decision. This situation would be unimaginable just a few years ago. How is such rapid change possible and how is…

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Jánošík wasn’t Polish, he was Spanish! Two registered transactions at the commercial real estate markets in Italy in the second quarter. Did Angela soften after holidays? How Danica invests. Do you have peas in the freezer? And euros? When the children don’t want to leave home…  New hero in Spain is emerging. Spanish Jánošík. Juan Manuel Sanchez Gordillo, mayor of Marinaleda – a town in southern Andalusia, is stealing in the supermarkets together with trade unions….

picture: Alan Cleaver

Just recently the Ministry of Finance issued 5-year external debt in euro, with annual coupon of 4,25% and annual yield of 4,436%. The total value of the issue was EUR 950 million, while the submitted bids stood at over EUR 6 billion. The issue was oversubscribed in just 30 minutes from hitting the screens and the investors’ interest was sizable. The debt issue was successful by all indicators – attracted investors’ interest, easily oversubscribed and…