Will Brexit shatter the EU or is it still too early to predict?

Discussion between Theresa May and Jean-Claude Juncker (in the foreground, from left to right)
Date: 21/10/2016. Location: Brussels - EC/Berlaymont. © European Union , 2016 / Source: EC - Audiovisual Service / Photo: Etienne Ansotte

The president of the European Commission together with EU and German officials fear that Brexit will divide the EU after the negotiations have been concluded. Theresa May is about to trigger Article 50 of the Lisbon Treaty and begin the talks for UK’s exit once the House of Lords grants permission. In addition to the Brexit procedure, […]

Why is Grexit again in the news? Who is to pay for Eurozone’s banking problems?

Wolfgang Schäuble, the German Federal minister for Finance, addressing the Plenary of the Bundestag. City: Berlin. Country: Deutschland. Date taken: 17.02.2016. Photographer: Achim Melde. German Parliament work.

Grexit, Greece’s exit from the euro area, is back in the news – for the wrong reasons. During this past week, the country’s creditors, the European Commission, the European Central Bank, the European Stability Mechanism and the International Monetary Fund, finally agreed amongst themselves to set even tougher conditions in order to continue refinancing the […]

Germany and Europe prepare for Trump’s America

European Council - October 2016. The EU Heads of State or Government met on 20 October 2016 in Brussels. The leaders discussed relations with Russia and the situation in Syria. From left to right: Lars Lokke Rasmussen, Danish Prime Minister, Angela Merkel, German Federal Chancellor, Xavier Bettel, Luxembourg Prime Minister. In the background Teresa May, Prime Minister of Britain is seen. Shoot location: Brussels – Belgium. Shoot date: 20/10/2016. Copyright: European Union.

Germany, and more generally the EU, is now preparing in earnest to confront the groundbreaking changes in their relations with Trump’s America. Last week, both the German Chancellor Angela Merkel and her Federal minister for Finance Wolfgang Schauble, made direct and indirect statements about the policies now needed for Germany and the European Union. On […]

Italian banks: It’s Rome’s turn to confront Berlin’s aggressiveness

Rome, Chigi Palace, Prime Minister’s residence. PM Paolo Gentiloni delivered the traditional end of year Press conference on 29/12/2016. (Italian government work, only some rights reserved. Foto: T. Barchielli).

Italy, after Greece, is now the next target of the archetypical Teutonic aggressiveness, aimed this time at making the life difficult for Paolo Gentiloni the new Prime Minister. The problems Rome has with the country’s banking system are being exaggerated and used by Berlin to either pave the road leading outside the euro area or […]

Deutsche Bank chased away from US, threatened with more fines

Davos, Switzerland, 20/1/2016 - Christine Lagarde, Managing Director, International Monetary Fund (IMF) and John Cryan, Chief Executive Officer, Deutsche Bank, captured during the session 'The Transformation of Finance' at the Annual Meeting 2016 of the World Economic Forum in Davos, Switzerland, January 20, 2016. IMF has labeled Deutsche Bank as a major risk to the global financial system. (WORLD ECONOMIC FORUM/swiss-image.ch/Photo Remy Steinegger. No changes made. Only some rights reserved).

The US Department of Justice settled its claims against Deutsche Bank, the biggest German lender, for packaging and selling toxic mortgage securities to uninformed customers prior to the 2008-2010 financial crisis. Initially, the Justice Department had asked for $14 billion, but it seems it settled for a fine of $7.2bn. However, this is not the […]

ECB: The bastion of effective and equitable Europeanism keeps up quantitative easing

Vítor Constâncio, Vice-President of the ECB, Mario Draghi President of ECB and Christine Graeff, Director General Communications (from left to right). Draghi explained the Governing Council’s latest monetary policy decisions and answered questions from journalists at a press conference on 8 December 2016 in Frankfurt am Main. (ECB Audiovisual Services).

Last Thursday, 12 December, Mario Draghi, President of the European Central Bank, was forced to compromise with the Germans during the Governing Council’s regular meeting. He accepted to reduce the monthly injections of cash into the economy (through asset purchases of mainly government bonds) from €80 billion to €60bn, along the lines of the nonstandard […]

After the Italian ‘no’ and the Brexit, Germans must decide which Europe they want

Questions and answers during the national briefing by Wolfgang Schauble, Federal Minister for Finance of Germany, following the ECOFIN Council on 6 December 2016, in Brussels. Snapshot from a video. (European Council - Council of the European Union, Audiovisual Services).

There is no doubt that Europe is in disarray. The long standing malaise of high unemployment and economic stagnation has already mutated into critical political problems. The mutations of the European political ecosystem take various, unseen before forms. In the northern EU countries they invariably appear as extreme right or even semi-fascist political parties, inflated […]

Trump’s blasting win causes uncertainty and turbulence to the global financial markets

Van Rompuy meets top US CEO’s at NY stock exchange.
Location: New York, United States 
Date: 23/09/2011
© European Union
Source: EC – Audiovisual Service

So Donald Trump against all odds won the US elections and will become the 45th President of the United States of America. The latter had as a result to cause severe and immediate turbulences to the world’s financial markets which experienced serious losses in the first few hours of the elections. However, Trump’s victory speech that came right after […]

Trump beats Clinton but Americans will learn the hard way that the US can’t change with an election

Gallery Archive, from ‘The Campaign Trail with Donald J. Trump’. Donald J. Trump for President, Inc.

With a large part of voters disgusted from this US Presidential race, which reached unseen before heights of bitterness, hatred, toxic recrimination and another part of Americans ready to contest the result, had Donald Trump lost the race. In the end, he achieved a landslide win and will become the next President of the USA. […]

UK economy in dire straits: leading banks now officially plan to Brexit too

EU Heads of State or Government met on 21 October 2016 in Brussels to address the ongoing negotiations for trade agreements and the modernisation of Trade Defence Instruments. From left to right: Ms Theresa MAY, UK Prime Minister; Mr Donald TUSK, President of the European Council. Shoot location: Brussels - BELGIUM
Shoot date: 21/10/2016
Copyright: European Union

At the morrow of the Brexit vote, back in late June this year, one of the first warnings on the possible disastrous effects of the UK leaving the European Union was all about the banking sector. The entire British financial sector was in the eye of the storm and the world’s main media outlets started to […]