Euro Crisis

Euro Crisis: New Record High For Spanish Bond Rates

14 Jun 2012 @ 20:20
Spanish 10-year bond rates have hit a record high for a second day in a row. Reaching 6.854% after the ratings agency Moody’s cut the country’s credit to one notch above “junk” status. European leaders had hoped that a 100bn-euro bailout out for the Spanish banking sector would have calmed the market. Moody’s argue that […]

Euro Crisis: Greek Exit Necessary To Save The Euro?

13 Jun 2012 @ 20:19
UK Chancellor George Osborne has argued that Greece may have to leave the euro to save the troubled currency. In comments that may cause problems for the German Chancellor Angela Merkel, the UK’s top finance minister raised doubts about “whether the German government requires a Greek exit to explain to their public why they need […]

Euro Crisis: Stocks Lost Early Gains

12 Jun 2012 @ 22:18
Following an initial rise at news of a Spanish recapitalisation of banks, stocks yesterday quickly lost early gains. Almost every major market ended the day below last Friday’s closing level. Oil fell three per cent due to fears the debt crisis may threaten petroleum demand. Credit ratings agency Fitch downgraded Spanish banks BBVA and Santander […]

Euro Crisis: Market React Positively To Spanish Bank Bailout

11 Jun 2012 @ 22:16
European and Asian stock markets have risen sharply following news of a bailout to rescue Spanish banks. During morning trading the FTSE100 saw a 1.6% increase, compared to the Dax’s 2.2%, CAC 40’s 2.0% and Spain’s Ibex index up 4.4%. Alongside a Nikkei rise of 2.0% the Forex markets also saw an improvement with the […]

Euro Crisis: UK Believes Germany Cannot Act Alone

07 Jun 2012 @ 22:16
UK Prime Minister David Cameron has argued that Germany ‘cannot act alone’ to resolve the eurozone crisis. Speaking ahead of talks with the German Chancellor Angela Merkel, Mr Cameron said that “speed is of the essence” and that “every day that the European economies are stagnant are days when opportunities are lost, wealth is lost, […]

Euro Crisis: Spain Banks Not Seeking Bailout

06 Jun 2012 @ 22:15
Spanish economic minister Luis de Guindos has today denied that the country is seeking a bailout of its banking sector. Following growing speculation Mr de Guindos stated that “I have absolutely not discussed any intervention in Spain’s banks”. The remarks helped boost the Spanish market, with a 3% rise on Wednesday morning. There remains doubt […]

Euro Crisis: May 2012 Timeline

31 May 2012 @ 22:00
6 May 2012 Socialist Party candidate Francois Hollande wins the French Presidential election, beating centre-right pro-austerity incumbent and close ally of German Chancellor Angela Merkel, Nicolas Sarkozy. 6 May 2012 Greek election sees no party with a majority with heavy gains for parties against the EU austerity strategy. 13 May 2012 Greece’s President, Karolos Papoulias, […]

Weak Euro Hits Vodafone Profit

23 May 2012 @ 02:24
British mobile firm Vodafone Group (LSE:VOD) reported that the mobile phone giant had a “steady” performance for the 12 months ending 31stMarch 2012, affected by a “weaker euro” and “tough macroeconomic and regulatory environment” in Europe. Revealing its annual performance to the public, Vodafone indicated “impairment charges” amounting to £4 billion for its operations...

Euro Crisis: ECB Strategy Explained

15 May 2012 @ 20:07
The ECB “long term refinancing operation” is two things. Firstly, it is an outcome of agreement. It means Germany will stomach inflation. Why not? Germany will prosper even more under inflation. A few percentage points of inflation will lower the euro and make Germany an even greater powerhouse. What a sacrifice for Germany to make […]

Euro Crisis: Impact on Gold

01 May 2012 @ 19:18
Gold, of course, rises and anything else that involves costs billed in firmer currencies. Europe will not have austerity, it will try and nibble away at the edges but that won’t be enough to halt the slide. Meanwhile, even the mild austerity that will get dished out will be punished at the ballot box. The […]
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