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Greece

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Markets 17th February 2012

Standish notes investors tell Greece from Italy, Spain

LONDON | Standish, the Boston-based specialist management firm for investments in fixed income markets, issued a press release regarding the ongoing process in Greece after the country’s parliament passed a new fiscal austerity plan. The current Greek government intends to slash its debt-to-GDP levels to 120% in 10 years. Tom Higgins, global macroeconomic strategist at Standish, believes that the prospects of a Greek default are not yet confirmed, even as euro zone leaders…

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World economy 16th February 2012

US apprehension over Greece

NEW YORK | The US are anxious over Greece. Wall Street fell on Wednesday and the Dow Jones Industrial Average suffered its biggest one-day decline this year. Treasury 10-year note yields traded below 2 percent as European leaders work on an eventual €130 billion financial bailout for Athens at their next meeting on February 20. Investors did not hide their worries:  “As much as we’d like to ignore Greece and…

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Markets 13th February 2012

JP Morgan Assets Management to investors over Greece: step back

LONDON | JP Morgan on Monday warned the investor community about Greece’s bailout negotiations being too dominant an influence on their immediate plans. The global asset management firm said that “Though investors will undoubtedly be focused on the negotiations over Greece’s second bailout this week, it may be worthwhile to step back and consider the broader outlook for equity markets for the year.” Since last October, according to JP Morgan…

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In Europe 13th February 2012

Who cares Greece might be spinning out of control?

By Juan Pedro Marín Arrese, in Madrid | Europe seems to witness with sheer indifference the Greek slide into utter ruin. Not so long ago Ms Merkel used to stress her unshakeable resolve not to let down any euro country. But the German finance Minister is currently pushing the Hellenic government towards the exit door. What has happened for such a U-turn? To begin with, fears about financial system contagion…

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In Europe 6th February 2012

Greek crisis: no tsunami at bay

By Juan Pedro Marín Arrese, in Madrid | When it comes to conditions imposed on Greece, they are not so fierce as usually depicted. Axing 25% of minimum wages might seem a harsh therapy. But salaries pegged to this standard would still be 15% higher than in Portugal. As to supplementary pension schemes and holidays bonuses, ask the Portuguese how they feel on that. Closure of more than 100 state-controlled entities…

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aggregation line 4th February 2012

Weekend link fest

A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions. UK, could you just cut the banker-pay drama and legislate like Spain? New York sues banks that used electronic system for fraud over mortgages Is insider-trading crackdown the cause of hedge fund’s poor results? Why…

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In Europe 2nd February 2012

The EZ to grow by 0,2% in 2012 against the IMF’s forecast of -0,5%

By Julia Pastor, in Madrid | The eventual coming out of green shoots within the dark scenery outlined by the world economy is well worth a mention. The analysts at the City of Madrid emphasise three good macroeconomic figures. Particularly, Santander refers in their analysis to Europe’s PMIs, which even in recessive zone at 48.8, compared to previous 46.9 of December, are standing at their highest mark in the last five…

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In Europe 31st January 2012

Euroland should be run by Anglosaxons

By Juan Pedro Marín Arrese, in Madrid | Economics is not a science but rather a common sense attitude. An open mind approach is vital to grasp its core meaning. Policing it shouldn’t be handed over to people too fond of rigid rules. Let the Germans have a go at it and you’ll end up with a neutral fiscal and monetary stance all year around. No policy at all, in fact….

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In Europe 30th January 2012

Merkel wants to poach Greece’s sovereignity

By Tania Suárez, in Madrid | “Greece must make up its mind”, warns the federal minister of Finance in Germany, Wolfgang Schäuble, from an interview for The Wall Street Journal. Schäuble states that the euro zone could refuse to grant Greece a new bailout and, if it did so, it would be pushing the Greeks to a default. Schäuble has decided to demand the permanent presence of a EU Commissioner…