Jun 15 2012 @ 06:21
All eyes are on Greece ahead of this weekend’s crucial elections. Rumours of a poll indicating Greeks would favour a pro-bailout government saw Greek stocks jump ten per cent yesterday. A pro-bailout result would decrease the likelihood of the embattled nation being forced out of the single currency. Moody’s Investment Service today downgraded ratings of […]
Jun 14 2012 @ 06:20
Spanish 10-year bond rates have hit a record high for a second day in a row. Reaching 6.854% after the ratings agency Moody’s cut the country’s credit to one notch above “junk” status. European leaders had hoped that a 100bn-euro bailout out for the Spanish banking sector would have calmed the market. Moody’s argue that […]
Jun 13 2012 @ 06:19
UK Chancellor George Osborne has argued that Greece may have to leave the euro to save the troubled currency. In comments that may cause problems for the German Chancellor Angela Merkel, the UK’s top finance minister raised doubts about “whether the German government requires a Greek exit to explain to their public why they need […]
Jun 12 2012 @ 08:18
Following an initial rise at news of a Spanish recapitalisation of banks, stocks yesterday quickly lost early gains. Almost every major market ended the day below last Friday’s closing level. Oil fell three per cent due to fears the debt crisis may threaten petroleum demand. Credit ratings agency Fitch downgraded Spanish banks BBVA and Santander […]
Jun 11 2012 @ 08:16
European and Asian stock markets have risen sharply following news of a bailout to rescue Spanish banks. During morning trading the FTSE100 saw a 1.6% increase, compared to the Dax’s 2.2%, CAC 40’s 2.0% and Spain’s Ibex index up 4.4%. Alongside a Nikkei rise of 2.0% the Forex markets also saw an improvement with the […]
Jun 07 2012 @ 08:16
UK Prime Minister David Cameron has argued that Germany ‘cannot act alone’ to resolve the eurozone crisis. Speaking ahead of talks with the German Chancellor Angela Merkel, Mr Cameron said that “speed is of the essence” and that “every day that the European economies are stagnant are days when opportunities are lost, wealth is lost, […]
Jun 06 2012 @ 08:15
Spanish economic minister Luis de Guindos has today denied that the country is seeking a bailout of its banking sector. Following growing speculation Mr de Guindos stated that “I have absolutely not discussed any intervention in Spain’s banks”. The remarks helped boost the Spanish market, with a 3% rise on Wednesday morning. There remains doubt […]
May 31 2012 @ 08:00
6 May 2012 Socialist Party candidate Francois Hollande wins the French Presidential election, beating centre-right pro-austerity incumbent and close ally of German Chancellor Angela Merkel, Nicolas Sarkozy. 6 May 2012 Greek election sees no party with a majority with heavy gains for parties against the EU austerity strategy. 13 May 2012 Greece’s President, Karolos Papoulias, […]
May 22 2012 @ 12:24
British mobile firm Vodafone Group (
LSE:VOD) reported that the mobile phone giant had a “steady” performance for the 12 months ending 31stMarch 2012, affected by a “weaker euro” and “tough macroeconomic and regulatory environment” in Europe. Revealing its annual performance to the public, Vodafone indicated “impairment charges” amounting to £4 billion for its operations...
May 15 2012 @ 06:07
The ECB “long term refinancing operation” is two things. Firstly, it is an outcome of agreement. It means Germany will stomach inflation. Why not? Germany will prosper even more under inflation. A few percentage points of inflation will lower the euro and make Germany an even greater powerhouse. What a sacrifice for Germany to make […]