Search Results for: European economy
Debunking $1.4 Trillion Europe Debt Myth in Post-Heta Age
March 17th, 2015
Austria’s decision to burn bondholders of a failed state bank may mean almost 1.3 trillion euros ($1.4 trillion) of European debt once deemed risk-free now comes with a hazard warning. Austria is the first country to wind down a ...
ECB Warns Cyprus as Government Pushes for Georghadji’s Dismissal
March 16th, 2015
The European Central Bank warned Cypriot President Nicos Anastasiades to respect central-bank independence after the country’s government started proceedings to dismiss Governor Chrystalla Georghadji. A year after previous Cypriot central-bank chief Panicos Demetriades resigned his post following months of ...
Cyprus pulls back from abyss after traumatic bailout
March 16th, 2015
Two years after its failing banks nearly pushed cash-strapped Cyprus over the edge, sending shockwaves through the eurozone, the country has pulled back from the abyss, saved by painful austerity and a multi-billion euro rescue package. Indeed, Finance Minister ...
Spain’s Banco Sabadell in Talks to Buy Britain’s TSB Group
March 12th, 2015
Spain’s Banco de Sabadell SA is in talks to buy British consumer lender TSB Banking Group Plc for 1.7 billion pounds ($2.5 billion), to expand outside an economy battered during Europe’s financial crisis. Sabadell, Spain’s fifth-biggest bank, is proposing ...
Bundesbank posts €2.95 billion profit in 2014
March 12th, 2015
The Deutsche Bundesbank posted a profit of €2.95 billion for the 2014 financial year, compared with €4.59 billion in 2013. The profit was transferred in full today to the Federal Government of Germany pursuant to section 27 number 2 of the Bundesbank Act ...
Low oil prices and supportive policy to drive recovery in Eurozone
March 12th, 2015
After a year of tentative recovery in 2014, the Eurozone has moved into 2015 aided by two important growth drivers – sharply lower oil prices and QE according to the March 2015 issue of the EY Eurozone Forecast (EEF). ...
The Last, Great Run For The U.S. Dollar, The Death Of The Euro And 74 Trillion In Currency Derivatives At Risk
March 12th, 2015
Are we on the verge of an unprecedented global currency crisis? On Tuesday, the euro briefly fell below $1.07 for the first time in almost a dozen years. And the U.S. dollar continues to surge against almost every other ...
Asia stocks regain footing after US rate hike jitters fade
March 12th, 2015
Asian stock markets mostly rose Thursday, finding a firmer footing after several days of volatile trading linked to anxiety over a probable rate hike in the U.S. KEEPING SCORE: Japan’s Nikkei 225 stock index rose 1.2 percent to 18,945.97. ...
Botched Law Could Close Hundreds of Foreign Firms’ Rep Offices in Russia
March 11th, 2015
Representative and branch offices of foreign companies working in Russia are in a race against time to re-register with the authorities or lose their license to operate in the country. The re-registration was intended to streamline bureaucracy for foreign firms, but organizational failures and lack of proper warning have left companies scrambling ...
France wins EU approval for two-year reprieve on deficit
March 11th, 2015
European finance ministers on Tuesday approved a controversial two-year extension for France to get its deficit within the bloc’s limits, despite accusations that bigger member states are treated more leniently than smaller ones. They formally accepted assessments by the ...
