Europe Economics Update Euro-zone Fiscal Monitor (Apr.) Peripheral euro-zone economies continue to struggle to make further inroads into their budget deficits. Although this partly reflects temporary factors, the deteriorating growth outlook suggests that... 1st May 2012 · 1 min read
Europe Economics Update Spain: Banking on a bail-out? A fragile banking sector is one factor threatening to put further upward pressure on Spanish government bond yields. And with the economy back in recession and labour market conditions continuing to... 1st May 2012 · 1 min read
Europe Economics Update Can Hollande really transform France’s outlook? François Hollande’s promises of a pro-growth strategy and a stronger leadership role in Europe have raised hopes about France’s economic outlook. But his bold words have so far been backed by few firm... 1st May 2012 · 1 min read
Europe Economics Update Greek election won’t buy much time Greece’s general election should result in the formation of a new Government that is, on paper at least, committed to the terms of the recently agreed second bail-out deal. But with the economy still... 30th April 2012 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Mar.) The latest monetary data revealed a further pick-up in broad money supply growth following generous ECB lending. But while banks seem to be using some of the money to buy government bonds, they are... 30th April 2012 · 1 min read
Europe Economics Update Austerity backlash brings new dangers The backlash against austerity in the euro-zone could improve the region’s growth outlook. But it brings new dangers too, not least by putting dissenting countries on a collision course with Germany. 24th April 2012 · 1 min read
Europe Economics Update French election won’t tackle key issues With Nicolas Sarkozy and François Hollande set to emerge as frontrunners after the first round of the French presidential elections this Sunday, attention will turn more closely to what their policies... 19th April 2012 · 1 min read
Nordic & Swiss Economics Update Debt concerns still dominating the Riksbank’s thoughts The Swedish Riksbank’s decision to leave interest rates unchanged at 1.0% was no surprise given the recent run of encouraging economic data. But while the chances of an imminent cut have perhaps... 17th April 2012 · 1 min read
Europe Economics Update ECB keeps the onus on governments The European Central Bank (ECB) hinted today that it might not be prepared to provide much more policy support and hence kept the onus firmly on governments to address the euro-zone crisis. 4th April 2012 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Mar.) Recent news from Spain suggests that the Government may be falling further behind its fiscal targets, but the other troubled euro-zone governments have made a better start to the year. 29th March 2012 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Mar.) The latest monetary data have confirmed that the ECB’s generous lending is boosting the broad money supply and perhaps even stimulating government bond purchases. But, for now at least, lending to... 28th March 2012 · 1 min read
Nordic & Swiss Economics Update SNB’s support won’t rescue the Swiss economy The Swiss National Bank pledged to maintain its extremely supportive policy stance today, keeping interest rates as close to zero as possible and defending a minimum exchange rate of CHF 1.20 per euro... 15th March 2012 · 1 min read
Europe Economics Update SNB’s support won’t rescue the Swiss economy The Swiss National Bank pledged to maintain its extremely supportive policy stance today, keeping interest rates as close to zero as possible and defending a minimum exchange rate of CHF 1.20 per euro... 15th March 2012 · 1 min read
Europe Economics Update TARGET2 imbalances highlight euro-zone problems The growing imbalances in the euro-zone’s TARGET2 payments system are another indication of the huge underlying problems still facing the currency union. 14th March 2012 · 1 min read
Europe Economics Update Italy remains in troubled waters The markets may currently be giving Italy the benefit of the doubt, but recent data have supported our gloomy view of the economic outlook. We think it may only be a matter of time before Italy is... 12th March 2012 · 1 min read
Europe Economics Update Debt deal not the end of Greece’s problems The successful Greek debt exchange should ensure that the second bail-out package is formally signed off before long, but it leaves Greek government debt still at an unsustainably high level. 9th March 2012 · 1 min read