LA Times (June 27)
“Slightly more Europeans now view the United States unfavorably under President Donald Trump than favorably, according to a survey of public attitudes.” Though Europeans consider Trump a strong leader, 75% think he is arrogant, 65% think he’s intolerant, and 62% believe he is dangerous. Looking beyond Europe, only “a median of 22% across all 37 countries surveyed expressed confidence that Trump will do the right thing when it comes to international affairs.”
Tags: Arrogant, Confidence, Dangerous, Europe, Intolerant, Public attitudes, Survey, Trump, U.S., Unfavorable
Wall Street Journal (June 18)
Helmut Kohl’s “vision shaped post-Cold War Europe for the better. Among the many leaders who shaped modern Europe, few have been as consequential…. He saw his country through the death of the Cold War and the birth of a reunited Germany at the center of a more deeply integrated European Union.”
The Economist (June 10)
“As European bank crises go,” the demise of Banco Popular “was an orderly one,” even something of a “triumph…. Spain’s government, the European Commission and Santander all cheered the outcome as a model European response to a bank crisis.”
Tags: Banco Popular, Banks, Crises, EC, Europe, Government, Orderly, Santander, Spain, Triumph
Fund Strategy (June 1)
“European sceptics are being forced to acknowledge the recovery in a region that they have failed to understand politically, as the eurozone enjoys positive PMIs and employment figures while rejecting populist politics…. April saw the fifth largest allocation shift from US to European equities since the start of the eurozone in 1999.”
Tags: Allocation, Employment, Equities, Europe, eurozone, PMIs, Populist, Positive, Recovery, Sceptics, US
Fund Strategy (May 25)
Fee pressures are clearly being felt in the European fund market. Amid the rush to cap fees, “nearly 80 per cent of fund managers subsidise funds’ expenses, 19 per cent of the recorded subsidies also exceeds funds management fees.”
Tags: Europe, Expenses, fee caps, Fee pressures, Fund market, Management fees, Subsidies
The Guardian (May 7)
“Like someone who has narrowly escaped a heart attack, Europe can raise a glass and give thanks for the victory of Emmanuel Macron. But the glass is less than half full, and if Europe doesn’t change its ways it will only have postponed the fateful day.”
Tags: Change, Europe, Fateful day, Macron, Narrow escape, Postpone, Victory
Wall Street Journal (May 3)
“In a year filled with European elections, no one wants another debt crisis—even if this requires pretending that Greek politicians will implement pro-growth reforms they’ve repeatedly shunned.” To reach a tentative agreement, “Athens has agreed to make certain reforms in exchange for an approximately €7 billion disbursement from a 2015 bailout package so Greece can meet July debt repayments.” Once again, the can is kicked a little further down the road. “The one certainty is that Greece and its creditors will be back at the same stand a year from now.”
Tags: Bailout, Creditors, Debt crisis, Elections, Europe, Greece, Pretending, Reforms, Repayments
Institutional Investor (April 26)
The Saudi Stock Exchange, known as the Tadawul, has “sped up its transaction cycle and introduced new trade options in a bid at international capital.” It has adopted the T+2 settlements now common in Europe. (The U.S. still takes three days to settle transactions, but is scheduled to adopt T+2 this September). Tadawul also “introduced securities borrowing and lending as well as covered short selling.” Currently ranked #23, the Tadawul hopes moves like these and the launch of a REIT market will help it attract more investment.
Tags: Europe, Options, REIT, Saudi Arabia, Securities, Settlements, T+2, Tadawul, Transaction cycle, U.S.
The Economist (April 15)
“Despite an influx of 1.2m refugees over the past two years, Germany’s population faces near-irreversible decline. According to predictions from the UN in 2015, two in five Germans will be over 60 by 2050 and Europe’s oldest country will have shrunk to 75m from 82m.”
The Economist (March 2)
The planned $30 billion merger between Deutsche Börse (DB) and the London Stock Exchange (LSE) “had been billed as a bridge between Europe’s two main financial hubs.” In tatters, the merger now stands as “a symbol of their growing competition—and of the uncertainty into which Brexit has plunged the EU’s markets.”
Tags: Brexit EU, Competition, Deutsche Börse, Europe, Financial hubs, LSE, Markets, Merger, Tatters, Uncertainty