The four top Americans who flew to Europe perplexed things about Trump’s intentions

Jens Stoltenberg, NATO Secretary General (on the right) and James Mattis, the US Secretary of Defense delivered a joint statement after a bilateral meeting, in the context of the regular gathering of NATO ministers of defense. Brussels, Belgium, 15-16 February 2017. (NATO photo gallery).

Four top ranking Washington bigwigs – who flew to Munich, Brussels and Bonn to mend fences with Europe, after Donald Trump termed NATO ‘obsolete’ and rejoiced the unraveling of the EU, left the Europeans bewildered with the dangerously diverging stories they had to narrate. Only the extreme right wing, Polish Defense Minister Anton Macierewicz seemed […]

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 […]

Draghi repels Trump’s threats, rejects Schauble’s dictums

From left to right. Vítor Constâncio, Vice-President of ECB, Mario Draghi, President of ECB, Christine Graeff, Director General Communications ECB. Draghi explained the Governing Council’s latest monetary policy decisions and answered questions from journalists at a press conference on 19 January 2017 in Frankfurt am Main. (ECB Audiovisual Services. Some rights reserved).

Mario Draghi, the President of the European Central Bank, is under mounting pressures both at home and abroad. From the other side of the Atlantic US President Donald Trump is overtly targeting a much cheaper dollar compared to euro, while at his inaugural speech he clearly praised trade protectionism by saying, “Protection will lead to […]

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 […]

IMF – World Bank meetings: US – Germany clash instituted, anti-globalization prospects visualized

IMF/World Bank annual meetings in Washington, U.S., October 2016. AM16 CNN Debate on the Global Economy
International Monetary Fund Managing Director Christine Lagarde (L) and German Finance Minister Wolfgang Schauble participate in a CNN Debate Seminar on Global Economy October 6, 2016 at part of the 2016 IMF/World Bank Annual Meetings in Washington, D.C. (IMF Staff Photo/Stephen Jaffe).

This year’s annual meetings of the IMF – World Bank Group in Washington D.C., which kicked off on Thursday 6 October, turned out to be an all out financial war of words between the United States and Germany. In the middle of it stands the battered Deutsche Bank. For a start, there was a confrontation […]

Trailing the US-EU economic confrontation

European Central Bank. Main building in Frankfurt am Main, Germany, illuminated. (Work of ECB Audiovisual Services).

More than one economic pundit felt relieved learning that Eurostat, the EU statistical service last Friday estimated the September CPI inflation in Eurozone at 0.4%, the highest level in two years. Understandably, they think that the stagnating and almost deflationary euro area is leaving behind its grim past, aided by ECB’s liquidity injections of €80 […]

Mario Draghi didn’t do it but Kim Jong-un did

Inauguration of the European Central Bank's new premises on 18 March 2015 in Frankfurt am Main, Germany. Mario Draghi (in the middle) cuts the ribbon. (European Central Bank Audiovisual Services).

Last Thursday, Mario Draghi, the President of the European Central Bank, was unable to move the capital and money markets with his customary monetary policy Press conference in Frankfurt am Main. On the contrary, North Korea’s leader Kim Jong-un, a global castoff, did it the next day just by pressing a button. However, it took […]

Merkel refuses to consider the North-South schism of Eurozone

Italian Prime Minister Matteo Renzi, German Chancellor Angela Merkel (on the right) and Donald Tusk European Council President (on the left), all shoveling soil at the foot of a small tree. However the tree was not planted on European soil. The planting took place on the occasion of the G7 Summit, which was held in Ise, Japan. Date: 26/05/2016. Location: Ise - Grand Shrine. © European Union, 2016 /Source: EC - Audiovisual Service / Photo: Ken Shimizu.

The European leaders who form the EU ‘directoire’ may get together as many times as they like, but still appear incapable of solving the club’s existential problems. Last Monday the German Chancellor Angela Merkel, the French President Francois Hollande and the Italian Prime Minister Matteo Renzi met in Naples to relaunch Europe, after the Brexit. […]

Brexit casts a shadow over the LSE – Deutsche Börse merger: a tracer of how or if brexit is to be implemented

Deutsche Börse. The main building in Frankfurt am Main. No need to say that last week the London Stock Exchange Group plc (LSEG) shareholders approved the merger with the German bourse with the astonishing 99.98%. It is clear that, after 23 June, London begs for the merger. (Deutsche Börse Audiovisual Services).

One of the most direct and important consequences of the Brexit vote is the uncertainty it casts on the merger of Europe’s largest stock exchanges and clearing houses, the London Stock Exchange and the German bourse in Frankfurt, the Deutsche Börse. The two mammoth institutions, the double sun of Europe’s financial universe, last March agreed […]

For how long and at what cost can the ECB continue printing trillions to keep euro area going?

European Central Bank Governing Council meeting in Vienna Austria, 2 June 2016. (ECB audiovisual services).

Last Tuesday Eurostat, the EU statistical service issued a Press release revealing that the GDP of Eurozone (EU19) and EU28 rose in the first quarter of this year by 1.7% and 1.8% respectively, compared with the same three-month period of 2015. On the yearly developments platform, there is more good news. The same source revealed […]