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Europe -MarketExpress

Europe’s Woes Multiply

The Markit group that provides many of the PMI surveys noted with today’s reports that the eurozone outlook has “darkened dramatically.” This makes for a poor backdrop for the ECB, which meets next week. However,...

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Gas, pipeline dreams and gunboat diplomacy in Mediterranean

A spate of recent deals and gas finds in the eastern Mediterranean Sea has positioned Egypt to be a major energy hub. Turkey, which is flexing its military muscles, may be left out. For years,...

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Why Greece’s Challenge Won’t Go Away

This agreement will free up the next tranche of payment so that Greece can make a large debt service payment (~7 bln euros) next month. However, the underlying situation is not resolved, and until it...

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Greece and the Return of the Repressed

Freud warned that unresolved psychological conflicts might be repressed but they keep returning. So too with Greece’s debt problems. A new crisis is at hand. Investor nervousness is evident in the surge in the two-year...

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Greek Bonds may Soon be Included in ECB Purchases

The ECB does not include Greek bonds in its sovereign bond purchase operation. However, the progress is being made, and it is possible that starting early next year, the ECB will buy Greek bonds. Greece...

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Why Portugal Matters?

Many observers continue to tout Italian risks as the greatest in the euro area into the year end. The constitutional referendum that would emasculate the Senate, and end the perfect bicameralism that has contributed to...

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Puerto Rico – ‘Greeks’ of the Caribbean

The loss of tax perks and its status as a commonwealth are just two of many reasons for Puerto Rico’s bankruptcy. The island is now hoping that the default will give it leverage to restructure...

The present Greece crisis in perspective

Mr Alexis Tsipras, Prime Minister of Greece is a worried man. His country’s inability to pay IMF Euro 1.5 billion means Greece is on the verge of being denied billion of Euros worth of future...

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Unemployment drops in Spain for fifth straight month

Latest government figures show that jobless numbers are steadily dropping in Spain. But the country still has the second highest unemployment rate in the eurozone – behind Greece. The Spanish Labor Ministry said on Thursday...

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Mulling alternatives to the euro in Greece

Time is running out for Greece to find a solution to its debt crisis. Some analysts believe a parallel currency could be a viable alternative. But what would that entail exactly – and is it...

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Europe and Greece inch forward on debt deal

EU leaders were meeting in Brussels for a last-ditch attempt to save Greece from leaving the eurozone. While largely welcoming Greece’s commitments, there seemed to be little enthusiasm for its debt repayment plans. Eurozone leaders...

Thoughts out of a hat

Thoughts out of a hat – Reserve Bank, Rajan and Greece

The Reserve Bank thinks conventionally of itself as a central bank and refuses to stray beyond its role; so most of its publications are deadly boring. Its internal proceedings must be even more so. How...