Germany doesn’t want more of your eurozone goods
Remember how this eurozone mess largely boils down to a balance of payments problem? The peripherals have current account deficits and the northern countries have surpluses. As...
Those haircut-heavy credit claims [updated with more haircuts]
Update — apologies for a rather disorganised (and long) post… but we’ve finally gained information from all seven eurozone central banks who’ll accept additional...
Those haircut-heavy credit claims
Lend to an Italian small business for five years, take the loan to the Bank of Italy for ECB three-year funding… get this kind of haircut:Is that a recipe for stopping...
Ireland returns to the bond market [updated]
Some extra blurb:IRELAND ANNOUNCES BOND SWITCHThe National Treasury Management Agency will announce switch terms from 4% Treasury Bond 2014 to a new 18 February 2015 bond....
That’s not a bazooka…
*This* is a bazooka.Not a €2,000bn bazooka… a €5,000bn bazooka to repair the eurozone, according to Peter Boone and Simon Johnson, writing for the Peterson Institute...
Lifeline for Iceland’s data centre hopes
Iceland’s hopes of becoming a global hub for data centres came a step closer on Thursday, when plans for a new transatlantic subsea cable were announced, that would link New York and London via Iceland and Ireland. Iceland has long …Continu...
Looking at the eurozone through a NIIP prism
Whichever way you look at it, the eurozone crisis is ugly.But looking at the overall indebtedness of peripheral economies instead of focusing solely on their public sector debt...
Sprechen Sie Deutsch?
Friday’s quote du jour comes from German paper Frankfurter Allgemeine Zeitung and its interview with Irish prime minister Enda Kenny.First question – “Mr Irish prime minister,...
Dicing with debt, EFSF edition
If the thing set up to borrow for the eurozone can’t borrow then the eurozone is screwed. That was the lament from the market when the EFSF decided to postpone on Wednesday...
RBS – encouraging results?
Revenues below consensus, expenses higher than consensus, impairments significantly below consensus. Result: figures that please the market.Well, that how we’re reading...
The EFSF’s funding funk
Casualty of “market conditions” on Wednesday – the EFSF’s latest bond issue.The EFSF had mandated Barclays Capital, Credit Agricole and JP Morgan on Monday...
