FTSE solid as Eurozone pledge boosts confidence October 10, 2011 The FTSE 100 opened steadily this morning as investors eyed the news that Franco-Belgian bank Dexia has been rescued while Germany and France pledged to unveil a Eurozone debt crisis plan by the end of the month. German Chancellor Angela Merkel and French President Nicolas Sarkozy said after talks in Berlin on Sunday that their [...]
Germany and France to unveil Eurozone crisis plan by the end of month October 10, 2011 The leaders of Germany and France have promised to unveil new measures to solve the euro zone’s debt crisis by the end of the month, as international pressure builds for bold steps from Europe to avert an economic backlash of global proportions. German Chancellor Angela Merkel and French President Nicolas Sarkozy said after talks in [...]
Euro deal on hold as Dexia is saved October 9, 2011 NEGOTIATIONS between the Eurozone’s biggest economies appeared to have stalled yesterday as France and Germany refused to detail how they will recapitalise the region’s teetering banks. A highly anticipated meeting yesterday resulted in a bland statement by German chancellor Angela Merkel that politicians “are determined to do the necessary to secure the recapitalisation”, which the [...]
Companies don’t pay taxes: we do. A Tobin Tax will cost us far more than it collects September 21, 2011 GLORY be, we are to be saved! As the TUC, President Nicolas Sarkozy, Chancellor Angela Merkel and the European Parliament agree, impose a Financial Transactions Tax (FTT) upon the banks and Europe, or at least the euro, will be saved. The banks shall pay for their errors and kittens will gambol in sunshine once again. [...]
Markets rally after promise of euro-bond September 14, 2011 MARKETS rallied yesterday after European Commission president Jose Manuel Barroso promised to unveil new proposals for euro-bonds in the near future. Speaking to the European Parliament, he said: “This is a fight for the economic and political future of Europe. This is a fight for European integration itself.” A euro-bond would effectively see paymaster economies [...]
Uncertainty casts a shadow over uptick September 13, 2011 BRITAIN’S top shares rose yesterday, led by banks which bounced back after recent weakness, although traders were dubious about the rally’s solidity due to persistent fears of a Greek debt default and a sharp rise in Italy’s borrowing costs. The UK benchmark index ended up 44.63 points, or 0.9 per cent, at 5,174.25, recovering from [...]
City backs Eurozone break up and voices disapproval of leaders August 30, 2011 EU leaders trying to dig Europe out of its debt crisis should be planning an orderly break up of the single currency, according to almost two-thirds (62 per cent) of City A.M’s Voice of the City panel, run in association with PoliticsHome.com. Thirty-eight per cent said they “strongly approve” of a Eurozone break-up, with a [...]
City backs Eurozone break up and voices disapproval of leaders August 29, 2011 EU leaders trying to dig Europe out of its debt crisis should be planning an orderly break up of the single currency, according to almost two-thirds (62 per cent) of City A.M’s Voice of the City panel, run in association with PoliticsHome.com. Thirty-eight per cent said they “strongly approve” of a Eurozone break-up, with a [...]
SO MUCH FOR A QUIET AUGUST August 29, 2011 TRADERS who stayed on the floor throughout August 2011 will remember it for many things, but tranquility will not be one of them. While European chief executives left the office for their customary four-week holiday, global equity markets kicked off a month of instability as US lawmakers dithered over a last-minute increase in the country’s [...]
Sarkozy aims for €11bn in extra savings by 2012 August 24, 2011 Nicolas Sarkozy yesterday said he will tighten France’s belt to the tune of €11bn (£9bn) next year to ensure it stays on track with deficit targets. The budget savings announcement came after France was forced to scale back its economic growth forecasts for 2012 from 2.25 per cent to just 1.75 per cent. It has [...]