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Europe Channel: Latest Posts
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Europe
Bail-In by 2016?
On 21 May 2013, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published a press release detailing its negotiating position with respect to certain elements of the proposed Recovery and Resolution Directive (RRD). The negotiation position was approved by 39 votes to 6 and states that: the “bail-in” scheme should be operational by January 2016 at [...]
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Europe
UK Inflation Falls Across the Board
Inflation has been remarkably steady at 2.7% or 2.8% in recent months so the drop in April to 2.4% was a surprise, and a very welcome one. Lower petrol prices and air fares contributed most to the fall, which reduced inflation to its lowest since September. As Sir Mervyn King prepares to hang up his [...]
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Ed Dolan's Econ Blog
The Eurozone’s Woes in One Big Chart
The latest data from Eurostat shows that fewer than half of the eurozone’s economies are now growing. Real GDP in the EZ as a whole was 0.4 percent lower in the first quarter of 2013 than a year earlier. The worst news came from the bloc’s biggest economies: Germany’s growth fell from 0.7 percent Y-o-Y [...]
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Europe
Boosting Growth to Restore Confidence
The eurozone has entered a vicious circle feeding on consolidation measures that weigh heavily on growth, hampering deficit reduction and requiring new adjustments to be made. Since the countries caught up in the crisis do not have the option of depreciating their currency, all they can rely on is structural reform to make their economies [...]
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Europe
Central Banks Drive the Stock Market Boom
My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. Spring has sprung with a vengeance for stock market investors. In recent days we have seen the Dow Jones industrial average close above 15,000 for the first time, Germany’s Dax hit record levels and the MSCI world equity index reaching its highest [...]
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Don't Shoot the Messenger
Does Portugal Have Its Own “Shortage Of Japanese” Problem?
In a number of posts recently I have highlighted the impact of declining workforces on economic growth (here, for example, or here, or here) and the way the policies persued to address the Euro debt crisis are having the impact of accelerating the movement of young people away from the periphery and towards the core (here, [...]
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Europe
BoE On Hold as Manufacturing Perks Up
The Bank of England left monetary policy unchanged at its May meeting, as expected, Bank rate remaining at 0.5% and the size of the asset purchase programme at £375 billion. No statement was issued, though the Bank will publish its quarterly inflation report on Wednesday May 15. Assuming Sir Mervyn King continued to vote for [...]
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Europe
The Road to Liikanen
On 6 May 2013, the EU Commission published a roadmap regarding a proposal for a structural reform of EU banks (i.e. the Liikanen reforms). This followed the publication, on 2 October 2012, of the final report of the High-level Group on reforming the structure of the EU banking sector, chaired by Erkki Liikanen, a summary of which [...]
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Don't Shoot the Messenger
The Suitcase Mood
Suitcase mood is a Russian website with travel and tourism content. The term is also a popular expression widely used within Russian culture to describe the state of mind which grips a voyager on the brink of a journey. The mood is often associated with a ritual which involves the departing person sitting, sometimes accompanied by family [...]
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Europe
Some Spring in the Economy’s Step
The service sector purchasing managers’ index completed a trio of better than expected surveys, and suggested the economy had some momentum going into the second quarter after the 0.3% first quarter rise in gross domestic product (which was also better than expected). The service sector PMI rose to an eight-month high of 52.9 in April, [...]
