Yet another summit which has failed to live up to the high expectations placed in it: hopes that EFSF and ESM might be beefed up by running parallel, or by bank licences or eurobonds were dashed. The only change to the ESM was that the rules on private sector involvement (PSI), now acknowledged [...]
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Posted on December 22nd, 2011
Posted on December 5th, 2011
The eurozone sovereign debt crisis is escalating and government leaders are desperately searching for a way to resolve it. The ECB is already helping by refinancing banks in the troubled countries and purchasing sovereign bonds in the secondary market – albeit reluctantly. But it is not prepared to do more (at least not [...] Posted on November 7th, 2011
“The escalation of the crisis has made it absolutely essential for the European Financial Stability Facility (EFSF) to be expanded – so in that respect, the result of the tough negotiations at the summit can be seen as positive. The advantage of leveraging is that the ECB does not need to be directly [...] Posted on October 24th, 2011
At the beginning of the year BHF Bank analysts, like many other analysts, had still been expecting US economic growth to accelerate to 3 ½ per cent both this year and next. But they have now lowered their forecast to a mere 1 ½ per cent in 2011 and 2012. Given the weak [...] Posted on October 16th, 2011
It looks like Greece is facing an uphill battle to implement the adjustment programme agreed upon with the IMF and the EU. Although the sixth tranche is likely to be paid out shortly, Greece will probably remain in the doldrums for some time to come: heavy debts are stifling the economy, and the radical cure [...] 6 pages
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