Search Results for: Eurozone
Italy to bailout Monte dei Paschi di Siena bank with €20bn rescue fund
December 22nd, 2016
A €20bn (£17bn) rescue fund for Italy’s banking sector has been approved by the country’s parliament, heralding a bailout of the world’s oldest bank, Monte dei Paschi di Siena (MPS). The bank said late on Wednesday that it had ...
Italy seeks to borrow 20 bln euros to prop up banking sector
December 20th, 2016
The Italian government decided on Monday to seek parliamentary approval to borrow 20 billion euros to underwrite the stability of its wobbly banking sector, starting with a likely bail-out of No. 3 lender, Monte dei Paschi di Siena, as ...
Asian Shares Fall on Europe Turmoil; Yen Weakens After BOJ Move
December 20th, 2016
Japanese shares erased losses and the yen weakened after the Bank of Japan upgraded its assessment of the world’s second-largest economy. Gold retreated and treasuries dropped. Japan’s Topix index erased earlier declines after the central closed a tumultuous year ...
Trump, Russia and China
December 19th, 2016
Even before he takes office, President-elect Trump is turning the world upside down. It has become clear his attitude towards Russia and China is very different from that of his predecessors. Amazingly, he is already wresting power from the ...
EU could strip the City of London of its euro clearing business
December 18th, 2016
The European Union could once again try and strip the City of London of its euro clearing business, according to a Financial Times report. The FT reports that European Commission is considering a change that would allow the European ...
Germany accused of strangling EU tax transparency
December 13th, 2016
A German-led group of EU states is trying to strangle plans for greater tax transparency, amid the restart of an iconic whistleblower case. Germany was accused of leading the behind-the-scenes attack on a European Commission proposal to raise transparency ...
Why Europe must end in tears
December 11th, 2016
The latest consequence of economic mismanagement in Europe was the failed attempt at constitutional reform in Italy this week. The Italian people have had enough of their government’s economic failure, and is refusing to give it more power. The ...
Euro Devaluation Accelerates – Millions Of Europeans Wishing They’d Bought Gold
December 10th, 2016
Euro Devaluation Accelerates – Millions Of Europeans Wishing They’d Bought Gold ECB Chairman Mario Draghi’s announcement of bigger and better QE this morning should have surprised no one. The fact is that the eurozone is coming apart at the ...
Can the world’s oldest bank survive Italy’s upheaval?
December 6th, 2016
The world’s oldest operating bank is racing to avoid a government bailout. Italy’s Monte dei Paschi di Siena (BMDPF) is trying to salvage a rescue plan that would see investors inject €5 billion ($5.4 billion) into the bank. Political ...
What to know now following Italy’s “NO” result and Renzi resignation
December 5th, 2016
Italy’s Prime Minister Matteo Renzi has said he will officially resign Monday, after voters apparently rejected his proposals for constitutional reform. What should investors keep an eye out for after his defeat? Although the referendum on Sunday was officially ...
