UK business confidence hit by general election and Eurozone worry November 3, 2014 Uncertainty surrounding the outcome of the general election, the threat of a skills shortage, and a weak Eurozone has hit UK business confidence – but it is still high by historic standards. A confidence index produced by the Institute of Chartered Accountants in England and Wales (ICAEW) fell to 28.6 for the fourth quarter of [...]
ECB council member Ewald Nowotny: We cannot rule out quantitative easing in the Eurozone October 31, 2014 We cannot rule out quantitative easing in the Eurozone: that was the message European Central Bank governing council member Ewald Nowotny gave CNBC today. "I think that we have all learned in life that we should never say 'never',” Nowotny told the channel. Nowotny is generally considered a hawk, preferring the austere German methods of [...]
Eurozone unemployment stays flat at 11.5 per cent October 31, 2014 It is a reflection of the economic times that a flat unemployment figure inspires a sense of relief, but today analysts breathed a sigh of relief as EU unemployment remained stable at 11.5 per cent in September. Although it was the fourth consecutive month the rate had stayed the same, the total number of unemployed [...]
Eurozone inflation hits expectations – but it’s still in the ECB’s “danger zone” October 31, 2014 Inflation in the Eurozone ticked up a tenth of a percentage point in October, which will do little to allay fears about the state of the economy in the single currency zone. According to the latest flash estimate (which will be confirmed next month) the rate was 0.4 per cent in October, compared with 0.3 [...]
Eurozone confidence takes a surprise upturn but is still low October 30, 2014 Confidence in the Eurozone edged up slightly in October after four months of not growing. The Economic Sentiment Indicator published by the European Commission yesterday picked up by 0.8 points to 100.7. Despite the rise the figure is much lower than it was earlier in the year. It was propped up by increased confidence in [...]
As confidence rises in October, has economic malaise in the Eurozone been exaggerated? October 30, 2014 Christian Schulz, senior economist at Berenberg, says Yes. Germany is experiencing a rough patch. Yet it’s not the Eurozone dragging down Germany. Spain, Portugal and Ireland have solid recoveries, which have broadened from exports to investment. Unemployment is falling, helped by labour market reforms at the height of the crisis. Even Greece is showing tentative [...]
Eurozone’s latest bond buying gambit gets off to a slow start October 27, 2014 THE EUROPEAN Central Bank (ECB) bought €1.7bn (£1.34bn) worth of bonds last week as it began its new purchase programme, data published yesterday reveals. The rate of purchases is slow. It would take at least six years for the ECB’s balance sheet to reach the size it was during 2012 – a target ECB president Mario [...]
Eurozone lenders need to find billions for safeguards October 27, 2014 Ancient Italian bank Monte dei Paschi failed the European stress tests by far and away the biggest margin, the authorities said yesterday, highlighting the dire state of the country’s financial sector. Under the European Banking Authority’s (EBA) stress tests, its capital buffer fell to minus 0.1 per cent. Even after plugging a portion of the [...]
Poor data suggests Eurozone is on brink of triple-dip recession October 23, 2014 Pressure is mounting on Mario Draghi, the European Central Bank president, to increase stimulus efforts after a swathe of poor data revealed the Eurozone was on the verge of a triple-dip recession. The purchasing managers’ index (PMI) released yesterday reveal that France scored a 48.1 for October, which is below 50, and signifies a decline [...]
In charts: Eurozone debt grows to 92.7 per cent of GDP October 23, 2014 Figures released by the European statistics authority today show government debt in the Eurozone grew to 92.7 per cent of GDP in the second quarter of 2014, a jump of 0.8 percentage points. In the European Union the level rose to 87 per cent of GDP, a rise of 1.9 percentage points. So how much [...]