Germany saves 40 billion euros thanks to the euro crisis

Fear. In different times greed is just as important. But right now, and across most of Europe, fear is the key driver. Money sloshes around, and all that those who control it want to do is limit the downsize. They are trying to mitigate against fear. And so afraid are...Read More

Greece will need another bail-out says Germany finance minister

There are two types of haircuts people dread. One involves a barber called Sweeny Todd and pies. The other involves debt. Of the two types of haircuts, the former never seems to be justifiable, the latter can be. And would you believe it, the latter may be back on again...Read More

Posted Aug 23, 2013

The Eurozone moves closer to exiting recession

The numbers say what the numbers say. It may not feel right; it may defy reason, but there are reasons to think the Eurozone may be set to exit recession.

The latest flash Purchasing Managers’ Index tracking Eurozone manufacturing and services hit an 18 month high.

That is...Read More

Posted Jul 24, 2013

Is Spain pulling out of recession?

It has been a drip drip of okay news on Spain. There’s nothing sensational; nothing yet to quieten the euro-sceptics, but enough to offer some hope.

The latest PMI for Spanish manufacturing from Markit hit 50 in June, which is the highest reading in 26 months, and suggests the sector is...Read More

Posted Jul 23, 2013

Is Greek unemployment going to pass one third of the workforce?

Beware of the TROIKA bearing gifts. The TROIKA is the collection of letters we use to describe the IMF, ECB and EU Commission and the organisations that, have clubbed together to provide money to Greece.

And everyone, with the exception of people living on Mars and members of the...Read More

Posted Jul 16, 2013

Crisis descends on Eurozone – again

Those who like to tint their spectacles with roses saw reason to cheer. The Eurozone economy appeared to be on the slow march to recovery. Oh boy it was slow, and the signs of recovery were subtle, but they were there. Then yesterday it began to look as if was...Read More

Posted Jul 04, 2013

The IMF owns up to mistakes, but EU accuses it of hindsight bias

The EU’s financiers responsible for the Greek rescue scheme in 2008 have reacted strongly to accusations from the IMF that serious errors were made in the initial bail-out of Greece. Maybe it is time that these deniers started being a little more honest with themselves and us.

Haircuts can be good...Read More

Posted Jun 07, 2013

Turkey’s protests; economic consequences

There seems to be as many reasons for the protests in Turkey as there are protestors. Protestors appear to have quite different ideologies, quite different beliefs, although a desire for more secular politics seems to be a common thread.

But what about the economy?

The Turkish economy has been seen by many...Read More

Posted Jun 05, 2013

The Germification of Spain?

Good news, it appears, comes in threes. For Spain, it most certainly has been a hat-trick, and we are talking football. If you like your forecast to be made via the prism of half-full crystal balls, then this may be reason to celebrate. Cynics may think differently, however.

Firstly, an index...Read More

Posted Jun 05, 2013

Economists celebrate as Eurozone stays in recession

The news out of the euro area was good yesterday. Yes, it is still in recession, but it has been in recession for a record length of time. No, there is no sign of the recession coming to an end, but at least the rate of contraction seems to be...Read More

Posted Jun 04, 2013

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