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10 minutes ago
Category Archive: Europe
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Can Europe take care of its own financial crisis?
Europe’s new crisis plan will hopefully stop the panic. This column explores the remaining issues – the sharing the burden of transnational bank losses and restarting the inter-bank lending market. It suggests a technical change to the guarantees that would produce a better result.
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How large will the slowdown be in the Eurozone and Germany?
The financial turmoil raises concern about the strength of the slowdown in Germany and the Eurozone. Even if the stock market seems to be on a recovery paths, the interesting questions for firms, households and policy is indeed how strong the recession might be. Two recently published forecasts and policy analysis papers try to shed light on the issue.
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The Baltic States May Soon Follow Hungary Into IMF Receivership
Well, the Icelandic aithorities seem to have bitten the bullet, and after some coming and going agreed to accept assistance from the IMF. An IMF mission is on the island preparing a plan which will then be put to the Icelandic government (protocols here are important). Under negotiation are the terms of any possible loan. [...]
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IMF To Step In With Rescue Package For Hungary
Well, these are indeed troubled times. According to the latest news to come off the Reuters wires the International Monetary Fund has announced its readiness to offer financial and technical help to Hungary, effectively stepping in and providing support for an EU member state in difficulty at a time when the EU institutional and financial [...]
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Europe’s Leaders Agree To A Common Front In Fighting The Banking Crisis
Well, Europe’s leaders have finally bitten the bullet. Faced with what IMF head Dominique Strauss Kahn warned could turn into a global financial meltdown, our leaders have risen to the challenge, at least to a certain extent. The details of what has been agreed continue to remain vague, but obviously I think it is a [...]
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What Europe Should Do In The Long Shadow Of The US Financial Meltdown
As Europe’s financial markets spin down into the vortex created by the US credit crisis, we can only be sure of one thing: every new day will contain new surprises. Only a few months ago, the real economy looked solid, with the Euro providing an impressive shield from financial disruption (imagine last year without the [...]
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Unemployment hits Spaniards again
Spain is one more time suffering from its endemic disease that was thought by many to be a history of the past. Unemployment in Spain is increasing at a rate of 3,179 new unemployed per day, which is a faster rate than that of the last economic crisis in 1993. The unemployed have now reached [...]
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Regions on credit watch
The international rating agency Standard and Poor’s announced today it would downgrade the credit ratings of four Spanish regions if they did not moderate the spending in an environment where revenues have shrunk because of the construction halt. Cities and regions lived a time of economic bonanza during the years of the construction boom as [...]
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Time to Congratulate the European Banks?
Now that the global debt crisis has destroyed many of the more respected and venerable institutions on Wall Street, and has caused more damage and dislocation to the wholesale financing industry than anything experienced in seventy-five years, the question is “what next?”. Lehman Brothers and Bear Stearns have disappeared, Merrill Lynch and Wachovia were forced [...]
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Ukraine Wobbles As The Financial Ground Beneath It Trembles
The medium-term outlook is sensitive to external developments and policy responses. A benign external environment, featuring even higher steel prices and FDI, could produce growth in excess of 7 percent, but inflation could prove hard to control under a peg. Under an adverse external outlook, by contrast, the peg could lead to external sustainability problems. [...]
