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Does Europe remain focused on austerity and structural changes as its preferred strategy to deal with crisis? Most likely not. Why? On Wednesday, the European Union statistics office noted that 9 of 17 euro-zone member states are now in recession,...
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, and that they will accommodate the policy to the data that arrives from the...
At Bratislava´s meeting, the Governing Council of the ECB rewrote the monetary history of the Eurozone. The Council decided to lower basic interest rates to 0.5 % starting from May 8th 2013. It is nothing but a confirmation that nothing was...
European Commission President Barroso started to criticize the austerity measures that the EU has imposed mainly on the Southern European member states in economic crisis. He stated that while the policy may be “fundamentally right,”...
Fitch Ratings has downgraded the United Kingdom from ‘AAA’to ‘AA+’. The outlook is predicted to be stable. The rating action reflects a weaker economic and fiscal outlook and possibility of higher UK budget deficits and...
Euro zone finance ministers backed a 10-billion euro bailout for Cyprus and the European Commission will try to help the island’s economy grow again with better use of EU structural funds. The first tranche of 10 billion euros will arrive...
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 rates are at the same low levels and the BoE maintained bond purchases....
The rescue package for Cyprus finally consists of a 10 billion euro bailout from the ESM and it has one crucial condition, namely taxation of all deposits larger than 100,000 euros, which inflicts significant losses on depositors — possibly...
I think that the Cyprus situation was a dominant one last week. I do not want to bother you with the same information you have already read somewhere else and which is probably not accurate because the situation is changing every minute. I would...
The Governing Council of the ECB decided that main interest rates will remain unchanged. The reasons behind the decision were such facts as the repayment of 22% of the LTRO program, which reflects an increase in financial market confidence,...
