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More bad data, more LIE-bor, more EU “solutions”
There’s nothing worse than having the new week continue in the exact same fashion as the last one… more bad economic data, more EU meetings and more Libor questioning, but here we go. Chinese inflation...
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‘Fremdschämen’ for Barclays, China’s imports lower and the mess that is oil
Marcus Agius, resigned chairman of Barclays, is sitting where Paul Tucker sat yesterday: in front of the Treasury Select Committee. Tucker yesterday denied having intervened on Libor. Watching the...
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If it’s not rates, it’s drugs: a new banking scandal
Today’s headlines refreshingly deviate from previous days, with HSBC’s involvement in money laundering and financing drug trafficking, terrorism and everything else that is bad. Surely, the paranoia...
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UK remains in recession, indicators point towards bad time
The UK’s preliminary GDP reading shows a 0.7% contraction in Q2, adding-on to fears that Britain will remain stuck in a recession for the rest of the year. It’s comforting to know that more than £9bn...
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Bad at budgeting, countries and airlines edition
The US Congressional Budget Office estimates that the US will enter a recession come 2013, with the budget deficit reaching $1.1tn (t-r-i-l-l-i-o-n), government debt totalling 73% of GDP, unemployment...
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Indicators point down, ECB discovers liberal tendencies
Back in the office from the long weekend, the week starts mixed (bad news + no news). Spain confirmed its Q2 recession with 0.4% negative growth, Japan is seeing its economy deteriorate further and...
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Catalonia requests credit, bank regulation/reputation crisis spreads to advisors
There won’t be a news brief tomorrow, Thursday, 30 August 2012. Spain’s indebted region of Catalonia, which currently owes €42bn, requested a €5bn emergency credit line from the Spanish government. The...
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773 Germans want Greece to leave the euro
The fun fact of the day is that only a quarter of Germans think Greece should stay in the eurozone. Outrage everywhere. Most papers have made this out to be yet another factor in Angela Merkel’s...
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Eurozone stuck in recession until 2014 (except for Germany, because they...
It’s a Europe-centric Friday, with breaking news of poor performance all around Europe’s economies – we know, thanks for pointing it out again. The Commission revised its growth expectation for the...
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Cypriot capital controls, EU templates and Japanese QE
Yesterday… Cyprus‘ President Nicos Anastasiades announced that the country’s banks are going to stay closed until Thursday (again: which Thursday…) and that capital controls will be put in place until...
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