The Impressive Path Of Interest Rates From The 80s
Looking at a chart displaying the path followed by main interest rates in several economies, we realize how much the world in which we live has changed in 30 years There was a time in…
Europe
The Only Reason Why Europe Will Have A QE Program
We’re sick and tired to hear alleged “experts” talk about the fact that Germany would have given up on Draghi to start the Quantitative Easing program, it’s time to understand that Berlin too needs some…
Where Has The European Government Debt Gone ?
The huge amount of government debt created in the Euro Area after the beginning of the crisis seems to be disappeared, what have we achieved with this new debt ? As TrueEconomics reports, there is something wrong…
ECB: Three Options For The Quantitative Easing
We do not really expect the ECB to launch anything like a QE in 2015, however it is worth knowing that some “sources” are starting to leak some information about what the board of directors…
Euro Area: Inflation Expectations Are Still Going Down
As we move towards the ECB press conference in which a european QE may be announced (don’t take that for granted), inflation expectations in the Euro Area keep on falling down Well… The markets believes…
How Exposed Are We To Russia ?
On average, in Europe our companies have a 3% revenue exposure to Russia, but there are countries at higher risk (original publishing date: 12/22/14) We haven’t seen yet the Russian recession we will experience in…
Europe: It’s Official, The tLTRO Was A Huge Flop
The second tLTRO did not work: it seems like the banks are not crazy about the concept of “helping the economy”, what did we expect ? “Don’t help the economy, help yourself” seems to be…
Europe: Will Low Oil Prices Create A Huge Deflationary Vortex ?
If oil prices will not recover, in 2015-2016 we may see an unbelievable rate of deflation: at that point, not even an aggressive QE made by the ECB would help Europe Our latest forecast about…
Europe: Will ECB Buy Gold (Or Other Assets) ?
Yves Mersch, a member of the ECB Executive Board ( = somebody who matters) has recently talked about the possibility for the central bank to buy financial assets such as gold, shares and ETFs (original…
Europe: ECB Is Fighting Against The Recovery
Somebody should explain us how can a central bank afford to cut its balance sheet by some 30% when the economy is experiencing its worst crisis ever: here is monetary policy under ECB’s view Modern…