ATHENS | By Jens Bastian via MacroPolis | The reprofiling of Greece’s sovereign obligations makes any future debt restructuring an exercise that would almost entirely impact the official sector of Greece’s international creditors. Among these creditors, European institutions such as the ECB, the EFSF and eurozone member states would be affected most prominently.
MADRID | The Corner | Assessing Spain’s economic decisions in the years of crisis led Deutsche Bank’s analysts to fix the main five lessons their European counterparts should learn from the country’s experience. One of Madrid’s clearest success was to firstly manage the private sector adjustment then implement fiscal consolidation. All this would not have been possible without the “crucial”, though sometimes “subtle” support from the EU.
MADRID | By Álex García.
MADRID | By The Corner | When Autumn comes, so will QE. At least that’s what economists at Citigroup are predicting. “We believe that the chances of unsterilized large-scale asset purchases (LSAPs) of public and private assets being launched this year have (…) increased to more than 50:50,” they said in a note on Tuesday. How much of a stimulus shot are we talking about? To have any effect it should be of at least 1,000 billion euros ($1,381 billion), they note, which would lift the inflation rate toward the ECB’s “below, but close to 2% target”. It could always be a decaffeinated step as some market makers are warning, but the truth is many on both sides of the Atlantic are hoping for Mr Draghi to make a move.
MADRID: By Álex García.
By Alexander Apostolides via The Agora | Cyprus has the habit of grabbing international attention in a global way, only to then be marginalised as a footnote when the immediate crisis seems to have abated. This has been historically true in issues of communal violence and the Annan plan, in what we Cypriots call “the original Cyprus problem”. Sadly for Cyprus, this is also seems to hold true in regards to its financial crisis.
By Jens Bastian at The Agora | The two economic adjustment programmes for Greece from 2010 and 2012 as well as the sovereign debt restructuring from April 2012 and the debt buyback initiative in December of the same year have had a significant impact on the debt profile of Greece as a sovereign debtor. Greece’s creditor structure in 2013 compared to the point of departure in 2010 hardly bears any resemblance.
The two economic adjustment programmes for Greece from 2010 and 2012 as well as the sovereign debt restructuring from April 2012 and the debt buyback initiative in December of the same year have had a significant impact on the debt profile of Greece as a sovereign debtor. Greece’s creditor structure in 2013 compared to the point of departure in 2010 hardly bears any resemblance.
– See more at: http://www.macropolis.gr/?i=portal.en.the-agora.672&itemId=672#sthash.BZtuYz92.dpuf
The two economic adjustment programmes for Greece from 2010 and 2012 as well as the sovereign debt restructuring from April 2012 and the debt buyback initiative in December of the same year have had a significant impact on the debt profile of Greece as a sovereign debtor. Greece’s creditor structure in 2013 compared to the point of departure in 2010 hardly bears any resemblance.
– See more at: http://www.macropolis.gr/?i=portal.en.the-agora.672&itemId=672#sthash.BZtuYz92.dpuf
PARIS | By Ludovic Lamant at Mediapart via Presseurop | Disagreements between the European Commission and the IMF on how to end the debt crisis in Europe continue to grow. Starting in Brussels, it is possible to envisage the careful dismantling of the group.
NEW YORK | By Ana Fuentes | Thinking of moving abroad? You might consider that Denmark, Norway and Switzerland are the most satisfied countries, according to the World Happiness Report 2013. However, Europe has a gloomy side called austerity: rankings for Greece, Italy, Portugal and Spain have dramatically plummeted because of the impact of the euro zone crisis.
MADRID | By J.P. Marín Arrese | Figures for the second quarter announced by the European Commission must have exerted a soothing effect on badly mauled Hollande. Growth is back in France, even if it only amounts to 0.5%.