I saw this story in my local paper about Germans and their aversion to credit cards which I think says a lot about the current situation in the Eurozone. Two things to take from this article. One is that Germany has the lowest home ownership rate in Europe (40%). Those with the highest: Greece, Italy, [...]
I found this on the Guardian (UK’s) live blog. I think it is a key point to consider re the spreading European recession and attendant debt mess:
Lombard Odier: “Germany is simply too small to save the Eurozone”. All set for Thursday.
Here’s a brief Greek tragedy update: LINK.
And the news gets [...]
With the Italian latecomers finally reporting last week, all the top EU banks have now reported FY 2011 results, which overall were nothing to write home about. For the first time in at least a decade, all major revenue components (and thus also total revenues) declined YoY. While the decrease is still modest (NII -0.5%, fees [...]
The Germans, who along with the French took the lead last decade in violating the Maastricht Treaty’s limitations on fiscal deficits for eurozone member states, are uniting to reject pleas from advocates of loose monetary and fiscal policy in Europe (allegedly to “save” improvident debtor nations). In doing so, they are looking not to Keynes [...]
Research notes from Deutsche Bank’s Tom Mayer.
Global risks dampening RMB outlook
December 5, 2011
China is not immune to the current global turmoil. The cut in the reserve requirement ratio by 50 bps to 20.5% for big banks marks the first explicit easing move in 3 years. Furthermore, in October the People’s Bank of [...]
On a busy day for posts here at TDC, I add one more with reluctance. However, Mr Evans-Pritchard has a fact-filled update of events in Europe that matter more to me than events within the Illinois-sized state of Greece (and one with much lower productivity per person). Here is some disquieting data from France cuts [...]
The Wall Street Journal is reporting this evening that Sarkozy and Merkel have reached an agreement on how to deal with Greece. No details were released. Apparently it will have to wait for Thursday’s eurozone meeting.
German Chancellor Angela Merkel, under mounting pressure in and outside Germany to show stronger leadership in the euro-zone debt [...]
I just read a piece from LEAP, a think-tank consortium in Europe, mostly French, which wrote a snide piece on the what they see as the dropping of the second shoe: the liquidation of the remaining malinvestment of bubble assets commencing this Autumn. Specifically they are predicting a drop in Treasurys as a result of our [...]