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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 […]
Last Tuesday Eurostat, the EU statistical service release its latest estimates about the April unemployment rate and May inflation in Eurozone, which unfortunately didn’t diverge markedly from the gloomy predictions of analysts. This week however, the same source published a very interesting survey about the labor market situation in EU. It’s a special report about […]
It has become commonplace to state that the European economy still doesn’t fare well after six years of recession or practical stagnation. For good reasons however in the past few days the horizon looked particularly darkened. Negative statistical evidence and meandering statements by key people are indicative of that. Inflation or rather disinflation statistics, persistently […]
It’s a tautological statement to say that the euro area is an economy which barely moves ahead, towards producing more jobs and incomes for the tens of millions of the unemployed and materially deprived. However, it seems that it’s worse than that. Mario Draghi, the President of the European Central Bank, said it plainly in […]
Some days ago the European statistical service, Eurostat confirmed that the inflation rate in the euro area for February was well into the negative part of the chart at -0.2%. This is an infallible sign that Eurozone remains in the stagnation or even the recession region of the economic cycle for a sixth year in […]
During the days ahead of last Thursday’s 3 December meeting of the European Central Bank’s Governing Council, financial markets and market oriented media had been pressing for a stronger monetary accommodation (easing), than what President Mario Draghi finally announced in the afternoon of that day. As a result, the euro appreciated markedly with the dollar […]
The Brussels Eurocrats are trying to convince us all that the European economy, after the 2008-2010 fallout, is now on the right track towards an era of growth and financial security. However, real people out there are still waiting to taste the benefits of this impalpable improvement. Apart from the fact that Eurostat, the EU […]
According to the latest statistics published in August by Eurostat, the EU statistical service, the euro area economy grew by a meager 0.3% during the second quarter of this year. Despite the fact that the mere three decimal points of more gross product typically illustrate a positive development for the Eurozone economy, there are other […]
The Eurozone economy has been taking two steps forward and one step backward over the past few months. The minimal increase of the GDP growth rate to 0.4% during the first quarter of this year and the equally small increase of people in employment was accompanied by a fall of industrial production and a decrease […]
Tomorrow Tuesday, 5th April, the European Commission will present its ‘Spring European Economic Forecast’ including assessments and predictions about GDP, inflation, employment and government finance for 2014, 2015 and 2016. Good providence made sure that last Thursday Eurostat released its flash estimate of April inflation standing at the edge of zero percent, up by an […]
It’s a bit awkward to consider a drop of the unemployment rate by one decimal point of a percentage unit as economic growth, and call it a reversal to the positive region, as some Brussels dignitaries and bureaucrats do. Incidentally, the euro area unemployment rate fell to 11.3% in February, down from 11.4% in January […]
With the unemployment rate always at double digit levels (11.5%), inflation falling again nearer to naught (0.3% in August), the Economic Sentiment Indicator (ESI) dropping and the Business Climate Indicator idling flat, the Eurozone economy is steadily heading to a dormant state at best or to a new long recession at worst. Speaking of overall […]
In a six line and few words Press release, Eurostat, the EU statistical service, announced its flash estimate for March Eurozone inflation at 0.5% further down from 0.7% in February, setting wide open the deflation (negative inflation rates) trap for the 18 countries euro area. This fast disinflation (falling inflation rates) course started last October, […]
Today Eurostat, the EU statistical service, published its second and more accurate estimate for the euro area and the EU28 Gross National Product during the last quarter of 2013, and confirmed its flash estimate of 14 February when it had reported GDP increases of 0.3% and 0.4% respectively, in relation to the previous quarter. On […]
This morning the German Federal Statistical Office issued a Press release revealing that the country grew by a mere 0.4% last year. This is almost half than the 0.7% GDP increase that Germany recorded in 2012. Along the same line of developments, Eurostat, the EU statistical office, published a Press release estimating that the Eurozone […]
Yesterday, as expected, the European Central Bank kept its basic interest rate unchanged at 0.25%. As usually, the decision was taken in the meeting of the bank’s Governing Council, the first of 2014. At this almost zero interest rate cost commercial banks get ample liquidity from the ECB and then lend this money to the […]
Eurostat, the EU statistical service, estimates that euro area inflation in October fell to 0.7% from 1.1% in September. It was 1.6% in July and then fell to 1.3% in August. This is an alarmingly fast deceleration of consumer price dynamism, threatening Eurozone with real disinflation, way below the 2% benchmark set by the European […]
The International Monetary Fund in its World Economic Outlook (WEO) report published this week states that while drafting it, the Fund’s economists were forced to create a new category of economic recovery or rather stagnation, to include in it only the euro area. In the preface, the Fund economists state plainly that “what was until […]
