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Reuters (June 7)

2018/ 06/ 08 by jd in Global News

“Despite a torrid start to 2018 and with Brexit uncertainties looming large, British blue-chip stocks have jumped to record highs thanks to a weak pound, a torrent of mergers and acquisitions, and bouts of political anxiety in the euro zone.” This is less the result of long-term optimism and more a re-calibration that UK  positions had been marked down excessively.

 

Reuters (April 23)

2018/ 04/ 24 by jd in Global News

“For investors, the key question is whether the ECB’s carefully calibrated exit plan from its ultra easy policy could be scuppered by trade tensions, especially if the dispute between the United States and China sucks in the euro zone. The ECB would have to alter its march towards a more normal policy stance if growing risks from protectionism, exchange rates or market swings end up depressing inflation.”

 

The Economist (February 21)

2015/ 02/ 22 by jd in Global News

“Deflation can be a good thing. But today’s version is pernicious.” Prices have fallen in Germany, Italy, Spain, Greece, indeed the euro zone as a whole, and “ultra-low inflation is also widespread. America, Britain and China each have inflation rates of less than 1%.” Should there be another crash, central banks would have little room to act. “The world is grievously underestimating the danger of deflation.”

 

New York Times (February 18, 2014)

2014/ 02/ 18 by jd in Global News

“Some analysts and public officials say the beleaguered euro zone is finally on the road to recovery…. But theirs is an overly optimistic view.” Europe risks falling into deflation “if government officials and central bankers do not take steps to bolster the economy.” Coordinated efforts would be ideal, but with European governments unlikely to work together “it is up to the central bank to act when it meets again next month.”

 

Washington Post (October 27)

2013/ 10/ 28 by jd in Global News

“Not many countries would cheer about an economic growth rate of one-tenth of 1 percent, sustained for a mere three months. But for Spain, which has been mired in negative growth for two years, the tiny uptick in the third quarter of 2013 represents a kind of breakthrough.” For Europe, however, this is just the slightest hint of a “silver lining in a what is still a very dense, dark cloud hanging over Europe’s economy. Spain and its fellow euro-zone debtors — Italy, Portugal, Ireland and Greece — don’t just need a trickle of growth to bring down their unemployment rates and debt-to-gross-domestic-product ratios. They need a gusher; many consecutive months of high-single-digit growth. And there is no short-term prospect of that.”

 

The Economist (October 26)

2013/ 10/ 27 by jd in Global News

“The euro mess has morphed from an acute crisis into a chronic one.” In contrast with the progress made on sovereign debt, however, “the euro zone has made less headway than other places in reducing this private-debt burden…. If the euro zone’s recovery is to strengthen, this burden of private debt must be lightened. According to the IMF, private debt is a bigger drag on Europe’s growth than government debt.”

 

The Economist (May 25, 2013)

2013/ 05/ 25 by jd in Global News

“Unfortunately, the idea that the euro is yesterday’s problem is a dangerous figment. In reality, Europe’s leaders are sleepwalking through an economic wasteland…. For everyone’s sake, Europe’s leaders must shake themselves out of their lethargy. They must grasp that if they do not act, the euro zone faces stagnation or break-up—possibly both.”

 

Wall Street Journal (March 27)

2013/ 03/ 27 by jd in Global News

“Nothing is ever simple with a euro-bailout, and the Cyprus fiasco is proving that again. On Thursday the tiny island disaster will become the first euro-zone country to impose capital controls since the single currency was introduced. This will spare Cyprus from immediate economic collapse, but the curbs are a worrying precedent.”

 

Institutional Investor (March Issue)

2013/ 03/ 20 by jd in Global News

“The European Central Bank’s recent moves have helped lighten the mood for investors in the euro zone.” It is true the dark cloud is rising, yet “Europe’s economic situation is still precarious, and any number of potential shocks could widen spreads and dampen returns. Moreover, policymakers have yet to address the region’s long-term growth prospects.”

 

New York Times (September 7)

2012/ 09/ 10 by jd in Global News

“In the long euro crisis, there is almost always a sobering morning-after whenever European leaders appear to have made a major breakthrough. And so it went again Friday.” There is again “further uncertainty about the survival of the euro zone.”

“In the long euro crisis, there is almost always a sobering morning-after whenever European leaders appear to have made a major breakthrough. And so it went again Friday.” There is again “further uncertainty about the survival of the euro zone.”

 

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