Finance minister insists German economy ‘not in crisis’ despite growth slowdown February 8, 2019 German finance minister Olaf Scholz attempted a spirited defence of his country’s economy today, insisting it is “not in crisis” despite weakening growth. Angela Merkel’s finance minister rejected claims Germany is heading for a recession and played down the Eurozone powerhouse’s economic troubles on a rare visit to London. Read more: Irish backstop 'not a trick' [...]
What does the year of the pig hold for stocks? History has some clues February 8, 2019 | City Talk Chinese stock markets are currently on holiday, with traders and consumers off celebrating the arrival of the Year of the Pig. But maybe equity markets across the world have something to celebrate, given the past performance of stocks during previous porcine-themed years. Statistically speaking, the Year of the Pig is a good one for stocks. [...]
Former Greek finance minister Yanis Varoufakis blasts Donald Tusk over Eurozone crisis in response to ‘hell’ tweet February 7, 2019 Former Greek finance minister Yanis Varoufakis blasted European Council president Donald Tusk today for the EU’s role in the Eurozone crisis. Varoufakis was responding on Twitter to Tusk’s tweet yesterday that said: “I've been wondering what that special place in hell looks like, for those who promoted #Brexit, without even a sketch of a plan [...]
What’s the point of economists? Look to America’s tech giants to find out February 6, 2019 Despite the dire predictions from the economics profession about Brexit, the UK economy is doing well. Growth continues at a steady pace. An all-time record 32.4m people are in work. Unemployment has fallen to levels not seen since the mid-1970s. In contrast, the Eurozone is on the brink of recession – and Italy is already [...]
FTSE 100 roundup: Today’s winners and losers February 1, 2019 The FTSE 100 finished 0.74 per cent up today, nudging just above 7,000 points to finish on 7,020.22. The index was bolstered by weakness in the pound after the release of further disappointing manufacturing statistics this morning. Sterling has had a tough end to an already difficult week, falling 0.3 per cent against the dollar, striking a [...]
Britain has never understood the fervour for the EU project January 31, 2019 What happens when an unstoppable force meets an immovable object? It would appear that we are about to find out in the latest instalment of the Brexit soap opera that has been running since we announced our intention to leave in 2016. For no sooner had MPs voted on Tuesday night to back Sir Graham [...]
The UK is trying to leave the European club – in Italy, the club is on fire January 31, 2019 After Tuesday’s parliamentary showdown, all eyes are on Westminster. Don’t be misled, though – the real existential threat to the EU lies in Rome. In the UK, we are debating how to leave the golf club. In Italy, the golf club is likely to be swamped by an approaching tsunami. There may not be a [...]
German inflation holds steady amid gloomy outlook for 2019 growth January 30, 2019 Inflation in Germany remained flat in January as the eurozone’s largest economy issued a gloomy forecast for 2019 growth. Consumer prices in Germany rose 1.7 per cent year-on-year, holding steady from the rate in December and in line with estimates from economists polled by Reuters. The figures came shortly after the German government cut its [...]
The Eurozone is at risk of renewed crisis in 2019 – and this time it’s all about Italy January 29, 2019 After a dismal 2018, December brought further bad news for the Eurozone in the form of the European Commission’s economic sentiment indicator. Despite hopes that last year would see an escape from the ongoing repercussions of the 2011-2013 euro crisis, confidence across sectors has taken a hit, with only retail trade remaining a bright spot. [...]
ECB Headwinds, IMF downgrade for Europe – What Can We Expect from 2019? January 25, 2019 | City Talk This week bankers and leaders around the globe have come together for the World Economic Forum in Davos. A key topic has been what we can expect from 2019 and beyond, in the face of a global slowdown, climate change, the US shutdown, trade wars and Brexit. On top of that, the ECB revealed that [...]