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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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Euro[pe] 2.0, or doing whatever it takes
So yesterday, Mario Draghi put some meat on the bare bones of his “doing whatever it takes”-skeleton and officially revealed the ECB’s latest bazooka. The bond purchasing program that tastes a lot like...
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Great expectations, or the state and finance
Overall, this week is about Wednesday [and Thursday]. On September 12, we’ll see the two-day FOMC meeting begin (see below), the German constitutional court ruling on the ESM, Dutch national elections...
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ESM approved/Dutch elections in full confusion
There’s a lot going on today, so we’re going to do this very structured, with headlines and everything. ESM The first catastrophe was avoided when the German constitutional court approved of the...
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Shakespeare was a central banker/ Greg Smith is back
After the German ESM court ruling, adding €190bn from Germany to the fund, lifted everything in Europe, and Asian shares couldn’t decide whether to rise or fall upon Apple’s iPhone 5 presentation (kind...
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EU getting ready to pay, China-Japan conflict boosts German car production
There won’t be a news brief tomorrow and Wednesday, 09/10 October 2012. Hugo Chavez won another six-year term in Venezuela’s national elections held on Sunday. By the end of the new term, he will have...
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Black Monday: 25 years later, the world hasn’t learned much
Half time at the EU summit, we don’t have much but a step forward on the banking union front. From 2013 on, “a single supervisor“, i.e. the European Central Bank, will monitor certain undecided actions...
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Japan’s recursive debt dilemma; Papandreou’s mother evaded taxes on €550m
The morning news sang the song of positive Chinese manufacturing data as the savior of the world economy. Quietly, in the background, the CEO of the Bank of Tokyo pointed at the systemic risk deriving...
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Fixing Japan – a bucket list
Japan is all over the news today, trying to weaken its currency (or not), stimulate growth and create jobs. It’s ambitious, to say the least. But it’s also good news for Europe. After all, new PM...
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EU cuts its losses on bank bailouts
The week starts relatively quiet with some news from Europe and last week’s news from Japan. The EU is doing something that could be interpreted as cutting its losses: in a redraft of terms and...
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