Eurozone
Are the SNP’s plans for a currency union a) Expedient, b) Sensible, c) Dangerous or d) All of the Above
Even if George Osborne is right about the problems of a currency union between an independent Scotland and the rest of the UK he possesses the uncanny knack of being… Continue reading
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Would you prefer to do business with the eurozone or China?
Does it really matter now whether the eurozone breaks up or not? The damage may already have been done, in terms of business confidence. A £10 billion bailout for Cyprus… Continue reading
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What will it take to keep Cyprus in the euro?
How will the eurozone respond to the Cypriot parliament’s overwhelming rejection of the bank deposit levy? There are only a few days in which to make a deal before the… Continue reading
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Cyprus: This isn’t a tax, it’s a bank raid
You know this levy on Cyprus bank deposits? It’s not a levy. A levy is a kind of tax, and what is happening to the people with bank deposits in… Continue reading
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Italian elections: ‘The worst possible outcome’
Forget Moody’s. If you want to see market panic, just look at Italy. As Isabel reported this morning, the unexpectedly strong performance of Beppe Grillo’s anti-establishment party, the Five Star… Continue reading
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Eurozone enters double dip recession
The Eurozone is now in recession – this, at least, is what is implied by today’s avalanche of dire economic data. Eurostat has not (yet) made this calculation; but Capital… Continue reading
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Spain draws closer to a bailout
The results of stress tests on Spanish banks will be revealed at 5pm, and the rumour on the trading floor is that the country may also announce that it is… Continue reading
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UK trade deficit narrows
It’s been a funny 24 hours, hasn’t it? The UK has had good news from the tennis and good news on the economy. Unusual, particularly in the latter’s case, where… Continue reading
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Draghi makes good on his promise: but will it save the euro?
David Cameron and François Hollande met this evening. As you would expect, they discussed the situation in the eurozone, which is currently looking a little more cheery than usual after… Continue reading
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Greek PM seeks breathing space on cuts
Greek Prime Minister Antonis Samaras is looking for a breather this morning as he meets Jean-Claude Juncker, head of the eurozone finance ministers, to discuss Greece’s ability to make the… Continue reading
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Eurozone leaders prepare for Grexit
On one level, a government minister confirming that their colleagues are discussing the possible break-up of the eurozone is hardly a surprise. It would have been far more controversial had… Continue reading
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The Eurozone crisis approaches its crescendo
Based on past performance, one wouldn’t want to put one’s mortgage on Mervyn King’s forecasts. One thing, though, that King is right about is that the crisis in the Eurozone… Continue reading
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Draghi’s day of reckoning
Today is the day when European Central Bank chief Mario Draghi’s big talk last week about doing ‘whatever it takes’ to save the single currency meets its test. The ECB… Continue reading
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Kicking the euro crisis can down the road
Today brought yet more reminders of why the eurozone can’t carry on like this much longer. Youth unemployment in Spain and Greece is above 50 per cent – a generation… Continue reading
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Whatever it takes to save the euro
In case you were in any doubt about how committed eurozone leaders are to the survival of the single currency, Angela Merkel has put out another statement on doing ‘everything… Continue reading
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All will and no way for the eurozone crisis
Mario Draghi’s announcement yesterday that the ECB would ‘do whatever it takes’ to preserve the euro certainly cheered markets up – but only for a while. Interest rates for Spanish… Continue reading
8 Comments Fears grow over Spanish bailout
The market data on Spain this afternoon suggests that the bailout sticking plaster agreed earlier by eurozone finance ministers wasn’t big enough to cover the wound even for a few… Continue reading
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A diplomatic racket
In my Observer column on Sunday I mentioned in passing that in a crisis, elites have to be able to show that they are sharing the plight of the masses.… Continue reading
12 Comments
A shift in the government’s thinking about the Eurocrisis
Theresa May’s suggestion that Britain could suspend the free movement of people in the event of a Eurozone break up is a reminder of just how transformative an event the… Continue reading
37 Comments
The IMF is losing patience with Greece
Much ado about Christine Lagarde’s interview with the Guardian this morning — and understandably so. After all, the head of the IMF is normally so restrained and delicate, yet here… Continue reading
23 Comments