How the Eurozone could survive without building a European super state July 20, 2015 When the euro was adopted, British sceptics argued that it was impossible to have a single currency without a single country. They suggested that you need central control of fiscal policy to stop governments from borrowing too much. It was also argued that you would need huge fiscal transfers to depressed countries given that they [...]
French President François Hollande calls for a Eurozone parliament with a shared budget July 20, 2015 French President François Hollande wants to see a new parliament and a shared budget for Eurozone countries. Writing in Le Journal Du Dimanche, a French Sunday paper, Hollande said: Europe has let its institutions weaken and the 28 governments struggle to agree to move forward. [National] parliaments remain too far from decisions. And the peoples [...]
Eurozone investor sentiment collapses as investors flock to “safe havens” of gold and UK government bonds July 19, 2015 Eurozone shares have had the largest annual decline in sentiment on record, dropping 19 percentage points in just a month. New figures from Lloyds show investors’ sentiment for Eurozone shares have crashed to -48 per cent, down 30 percentage points over the past year. Ashish Misra, head of portfolio specialists at Lloyds, said the drop [...]
FTSE edges up but can not beat rise in Eurozone – London Report July 16, 2015 BRITAIN’S top share index edged higher yesterday, though without matching the gains seen across the Eurozone after Greece’s parliament approved austerity measures, with US-exposed stocks getting a lift. The FTSE 100 index closed up 0.6 per cent, at 6,796.45 points, lagging a 1.5 per cent rise for the Euro STOXX 50, with peripheral Eurozone markets [...]
ECB holds Eurozone interest rates July 16, 2015 The European Central Bank (ECB) kept interest rates unchanged at records lows, at a meeting of its 25-member governing council today. "At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain [...]
German finance minister Wolfgang Shaeuble on Grexit: Perhaps temporary exit from the Eurozone would be better for Greece July 16, 2015 Never one to mince his words, German finance minister Wolfgang Schaeuble has suggested that, despite the Greek parliament's overwhelming support for its creditors' reform proposals, a "temporary Grexit" might be a better option. Read more: IMF slams Greece deal This morning Schaeuble told Deutschlandfunkradio that "perhaps [Grexit] would be the better way for Greece". Given [...]
Greece offered Eurozone exit as alternative to bailout as Eurogroup talks continue late into the night July 12, 2015 Greece has been told it could make a temporary exit from the Eurozone if it fails to come to an agreement with its creditors in last-ditch tonight. Read more: Eurozone leaders assemble European leaders are once again locked in late night negotiations, after taking a second break for bilateral talks, as Greek looks to secure the much-needed [...]
Greek debt crisis: Angela Merkel, Alexis Tsipras, Francois Hollande and Eurozone leaders assemble for Brussels bailout talks July 12, 2015 Eurozone leaders have assembled in Brussels to discuss a deal to bailout Greece from its debt crisis after a morning of talks between finance ministers. “We’re now going to inform the leaders we’ve finalised our discussion. We’ve come a long way but a couple of big issues still are open so we’re going to put [...]
Greek debt crisis: Eurozone finance ministers divided in tough talks July 11, 2015 The finance ministers of the Eurozone countries have warned there will be tough negotiations as they meet to discuss whether Greece’s new reform proposals are a basis for a third bailout. Eurogroup chief and Dutch finance minister Jeroen Dijsselbloem said there was a “major issue of trust”, while Wolfgang Schaeuble, Germany’s finance minister, said the [...]
Greece passes first hurdle as it gets green light for its proposals ahead of crucial meeting of Eurozone finance ministers July 11, 2015 The measures that the Greek parliament agreed to in the early hours of the morning have received an initial green light from the European Union and International Monetary Fund ahead of a critical meeting of the Eurozone finance ministers in Brussels. Bailout talks are now very likely after the European Commission, European Central Bank and [...]