EMU Q2 GDP contracted by 0.2% qoq. France avoided a fall in output and Germany grew at a solid pace, but Italy and Spain are still in the doldrums.
Since the outbreak of the financial crisis in 2007, Europe’s banks have been gradually retreating from the US market.
Europe’s sovereign debt crisis in historical perspective.
Even if the ECB joins forces with the EFSF/ESM in buying government bonds its mandate, with price stability as the primary objective, will ultimately put a lid on the size of its interventions.
Draghi and Bernanke know that markets need to be talked up, and they continue to do so unapologetically.
CIS poll confirms PM’s rapidly deteriorating popularity.
I wouldn’t trust anything now until they have a program in place with the ECB.
It’s time For Europe to stop screwing around.
It is highly likely that the Germans’ resolve against money printing will dissolve in the face of panic.
DB Research comments on China, the EU’s banking union and the outlook for Europe’s financial system.
Europe’s three needs: a debt write-down, a real central bank, and a more efficient tax system.
Last week’s agreement should not be seen as anything less than a victory for the printing press.