Tag: european

Draghi Hints at Bond Buying But Rules Out Banking License and Warns Governments Must Use EFSF/ESM, ECB Cannot Replace Governments; 10-Year Yield…
August 2, 2012 0

Draghi Hints at Bond Buying But Rules Out Banking License and Warns Governments Must Use EFSF/ESM, ECB Cannot Replace Governments; 10-Year Yield…

By News Desk

Here are some snips from ECB President Draghi Statement to Press Conference Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged, following the decrease of 25 basis points in July. As we said a month ago, inflation should decline further in the course of 2012 and be below 2% again in 2013. Exceptionally high risk premia are observed in government bond prices in several countries and financial fragmentation hinders the effective working of monetary policy.

Results, Results, Results
July 27, 2012 0

Results, Results, Results

By News Desk

Today the Financial Times reports Barroso pushes Greece to show results José Manuel Barroso has urged Greece to accelerate reforms after two years of foot-dragging if it wants to stay in the eurozone, saying Athens needed to show “results, results, resultsâ€. The European Commission president, making his first visit to Greece since it sought assistance from the EU and International Monetary Fund in 2010 to avert a sovereign default, stressed that delays in implementing agreed measures had undermined the country’s credibility with its partners, adding: “Actions are more significant than words.†Mr Barroso’s strongly-worded message, delivered after a two-hour meeting with premier Antonis Samaras, came after leaders of the three-party coalition government endorsed in principle a €11.5bn package of spending cuts for 2013-14 that were agreed with creditors six months ago but kept on hold during two successive election campaigns.

UK GDP Disaster Far Worse Than It Looks; UK Growth in 2012 "inconceivable"
July 25, 2012 0

UK GDP Disaster Far Worse Than It Looks; UK Growth in 2012 "inconceivable"

By News Desk

UK GDP Disaster Far Worse Than It Looks; UK Growth in 2012 "inconceivable" The global recession picked up steam today with news of a UK GDP Shock . The economy shrank by 0.7pc in the second quarter – far more than the 0.2pc fall expected, as record rainfall and the Jubilee holiday added to pressure from austerity cuts and the eurozone debt crisis.

IMF Seeks to Halt Aid to Greece; September Bankruptcy Awaits; Dominoes Will Fall
July 23, 2012 0

IMF Seeks to Halt Aid to Greece; September Bankruptcy Awaits; Dominoes Will Fall

By News Desk

According to Der Spiegel, the IMF Wants to Stop Aid to Greece as soon as the ESM is up and running in September. At that time Greece would become bankrupt. This is a Mish-modified translation from German: The patience of the International Monetary Fund (IMF) with Greece comes to an end: According to to information obtained by SPIEGEL, senior IMF officials told EU leaders in Brussels that the IMF was no longer willing to provide additional funds for Greece