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Europe Channel: Latest Posts
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Europe
The CEE and the Baltics – Moving Towards the Center of the Storm?
As I peer out my window over towards the Alps and the northern entrance to Le Vallé du Rhône I can’t help asking myself whether some of those experiments which are habitually conducted a mere 40 kilometers from my current habitat haven’t gone terribly wrong? With every passing day getting I find it more and more difficult to avoid associating all those worthy attempts to uncover that illusive Hick’s Particle with the all-encompassing black hole into which our financial markets seem to be getting sucked with a disturbing velocity, despite the numerous efforts by the global financial authorities to invent some sort of monetary equivalent to “anti-matter”.
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Don't Shoot the Messenger
Now Serbia Adds Its Name To Those In The IMF Sick Ward
Serbia has also decided to ask the International Monetary Fund for additional support, according to a stament from senior government officials last Monday cited in Reuters.
“We are certainly not in a group of emergency cases, such as Hungary,” a senior official who asked not to be named told Reuters. “But we need the agreement for longer-term stability.”
So, to be clear, Serbia is not an “emergency case”, like Hungary for example – although it should be noted that the Hungarian government are stating that they are not an emergency case like Iceland, who are themselves not an emergency case, like Ukraine, for example, who are in no way to be considered as being in need of support in the way in which, let us say, Latvia is. And Latvia according to Prime Minister Ivars Godmanis is not any kind of case at all, and certainly not one to be compared with Serbia.
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Emerging Markets
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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Europe
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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Don't Shoot the Messenger
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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Don't Shoot the Messenger
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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Don't Shoot the Messenger
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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Emerging Markets
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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Europe
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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Europe
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 [...]
