Black Hole of £12bn in Public Finances

September 18, 2011 by admin · Leave a Comment
Filed under: Economic Outlook 

In a forecast that threatens to derail the coalition’s deficit reduction strategy and prolong austerity well into the next parliament, UK’s ministers are set to be informed that there is a black hole of £12bn in the public finances.
The structural deficit in 2011-12 is now £12bn higher than expected, which is a rise of 25%.

Share and Enjoy:
  • Twitter
  • Digg
  • Sphinn
  • del.icio.us
  • Live
  • Facebook
  • Mixx
  • Netvibes
  • StumbleUpon
  • Google Bookmarks
  • Blogplay
  • Reddit
  • MySpace

Italy Agrees to Liberalise Economy

August 7, 2011 by admin · Leave a Comment
Filed under: Economic Outlook 

On Friday, Italy’s centre-right prime minister–Silvio Berlusconi, and finance minister–Giulio Tremonti, held several hours of emergency talks in which they agreed to speed up a package of measures to liberalize the nation’s economy.
The measures were announced, following the spread between Italian and German 10-year bonds overtook the one of Spain, placing Italy at the centre of the sovereign debt crisis.
Italy’s plans were welcomed in Berlin, where action in both Rome and Madrid has been taken as top priority to restore both countries’ credibility in the debt markets.

Share and Enjoy:
  • Twitter
  • Digg
  • Sphinn
  • del.icio.us
  • Live
  • Facebook
  • Mixx
  • Netvibes
  • StumbleUpon
  • Google Bookmarks
  • Blogplay
  • Reddit
  • MySpace

SocGen Profit Warning on Greek Debt

August 3, 2011 by admin · Leave a Comment
Filed under: Economic Outlook 

Chairman and chief executive–Frédéric Oudéa warned by SocGen that its profit target of €6bn net income for 2012 will be hard to achieve as a writedown linked to its Greek exposure weighed on quarterly results.
However, Mr Oudéa also said that second-quarter results demonstrated the “resilience” of Société Générale, in spite of the inclusion of a €395m pre-tax writedown due to Greek government bonds held by the second-biggest bank in France.

Share and Enjoy:
  • Twitter
  • Digg
  • Sphinn
  • del.icio.us
  • Live
  • Facebook
  • Mixx
  • Netvibes
  • StumbleUpon
  • Google Bookmarks
  • Blogplay
  • Reddit
  • MySpace

Interbank Loan Probe Focuses on Yen Rates

July 26, 2011 by admin · Leave a Comment
Filed under: Economic Outlook 

Regulators, who are probing alleged manipulation of interbank lending rates, have now expanded the investigation into yen rates in London as well as a separate rate-setting process in Tokyo.
Led by the US Department of Justice, regulators from the European Union, the UK, the US and Japan have been examining whether the London interbank offered rate was rigged at the height of the financial crisis.
Lawyers involved in the case have already warned their clients, including the biggest names in banking, to get ready for possible dawn raids by regulators.

Share and Enjoy:
  • Twitter
  • Digg
  • Sphinn
  • del.icio.us
  • Live
  • Facebook
  • Mixx
  • Netvibes
  • StumbleUpon
  • Google Bookmarks
  • Blogplay
  • Reddit
  • MySpace

In Europe, an Outline of Options

July 12, 2011 by admin · Leave a Comment
Filed under: Economic Outlook 

European finance ministers has promised to lighten lending terms for struggling nations such as Greece and suggested that the existing bailout fund be expanded and allowed to pay for the purchase of sovereign bonds.
After more than 6 hours of talks in Brussels, the ministers issued a statement, which outline a range of options for cutting down the debt burden on nations that have accepted loans, including reducing their interest rates and extending loan maturities, as well as helping them to buy back bonds.

Share and Enjoy:
  • Twitter
  • Digg
  • Sphinn
  • del.icio.us
  • Live
  • Facebook
  • Mixx
  • Netvibes
  • StumbleUpon
  • Google Bookmarks
  • Blogplay
  • Reddit
  • MySpace

Fears over Italy Ramp up Crisis in Currency Club

July 10, 2011 by admin · Leave a Comment
Filed under: Economic Outlook 

The eurozone debt crisis intensified amid the first serious indicates that contagion is spreading to the third biggest economy in the currency club–Italy. Bond yields of Italy, which have an inverse relationship with prices, leapt to nine-year high and the country’s stock market and bank shares tumbled.
Concerns over Italy also hit the euro, which fell by nearly 1% against the dollar. Investors worry that as Italy is considered too large to bail out, problems in Rome might put the eurozone project in doubt.

Share and Enjoy:
  • Twitter
  • Digg
  • Sphinn
  • del.icio.us
  • Live
  • Facebook
  • Mixx
  • Netvibes
  • StumbleUpon
  • Google Bookmarks
  • Blogplay
  • Reddit
  • MySpace

EU Fears about Greece Deepen

June 16, 2011 by admin · Leave a Comment
Filed under: Economic Outlook 

According to a leaked account of a meeting, it is indicated that EU commissioners have a ‘profound sense of foreboding’ concerning Greece and the future of the eurozone.
It is said that this was a response to the ‘damning failure’ of eurozone ministers to agree a new bailout for Greece this week. It is also added that the markets would now ’smell blood’ and a default on Greek government debt would cast threats to the viability of the European Central Bank.

Share and Enjoy:
  • Twitter
  • Digg
  • Sphinn
  • del.icio.us
  • Live
  • Facebook
  • Mixx
  • Netvibes
  • StumbleUpon
  • Google Bookmarks
  • Blogplay
  • Reddit
  • MySpace

« Previous PageNext Page »

ss_blog_claim=d8b71225e22bcdd26f96fbebe990c628 ss_blog_claim=d8b71225e22bcdd26f96fbebe990c628