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What did not succeed in Germany proved successful in Austria. For the first time a pure euro-skeptic party, founded by a billionaire, Frank Stronach, will enter into the Austrian parliament, with 5.8 percent of total votes. It seems that euro-skepticism...
The German election – actually the most important EU election – ended in Angela Merkel’s victory. On the other hand, the election ended in the defeat of a strong right-wing policy. It seems that Merkel is willing to create a big and strong...
Will the crisis trigger anti-environmental agenda? Who knows, but Antonio Tajani, the European industry commissioner stated that “I am in favor of a green agenda, but we can’t be religious about this. We need a new energy policy....
The Euro crisis is definitely not solved. Greece’s unemployment rate in April 2013 was 26.9% compared to 23.1% in April 2012 and 26.8% in March 2013. The number of the employed amounted to 3,636,042 people. The number of the unemployed amounted...
We have had two announcements of central banks in Europe. The Bank of England with a new boss, Mr. Carney, made the first one. The second one was made by the ECB. The Bank of England mentioned that forward guidance and intermediate thresholds...
Last week’s meeting of EU finance ministers brought about new rules on bank collapses. The new rules are definitely inspired by Cyprus event. Under the new regime, banks’ creditors and shareholders would be the first to take losses....
Mario Draghi intervened verbally once again and does not hesitate to say anything. He said that the ECB is considering further non-standard monetary policy tools and will deploy them if circumstances warrant. He is also aware of the fact that...
The hearing in front of the German Constitutional Court about the legality of the Outright Monetary Transactions (OMT) scheme of the ECB was on Tuesday and Wednesday, but the final verdict is not expected before autumn. In reaction to the German...
ECB decided not to make any changes to the policy and all rates remained unchanged. Mario Draghi said that ECB sees 0.6 % decline in GDP within Eurozone in 2013 and some downside risks persist in the economic outlook. On the other hand, he reconfirmed...
The European Central Bank warned about the risk of a renewed banking crisis. The main reasons behind it are the euro zone’s slumping economy and a surge in problem loans. The logic is simple. Prolonged recession will make many borrowers unable...
