Article | May 17, 2012 - 9:06am
The Ecofin council of the European Union, comprising the 27 ministers of finance have approved a huge package of new rules regulating the business environment in which operate 8,300 banks.
The Ecofin council of the European Union, comprising the 27 ministers of finance have approved a huge package of new rules regulating the business environment in which operate 8,300 banks.
Article | April 26, 2012 - 3:20pm
Italy's treasury was forced to pay today, 26 April, much higher interest rates for a T-bills auction.
Italy's treasury was forced to pay today, 26 April, much higher interest rates for a T-bills auction.
The cost reached the levels of a similar auction in January 2012 when the Eurozone was under exceptional pressures in capital markets. At that time the second Greek crisis had reached its apex and Italy and Spain ware suffering from devastating contagion.
Article | April 18, 2012 - 3:35pm
Over the past months, and more precisely from the moment that the Eurozone drafted its Fiscal Pact, to impose zero primary deficits to governments signing it, there is a growing negative criticism that such a prospect will suffocate growth.
Article | April 15, 2012 - 8:52pm
During the hard times of any financial crisis the usual complain by all agents is that there is no light at the end of the tunnel. But “my fellow citizens”, if there were solid and tangible evidence for an end to any crisis, there would have been...no crisis.
Article | April 12, 2012 - 1:39pm
European capital markets were nervous today, Thursday 12 April, waiting for the results of an Italian auction of government bonds. Analysts were expecting an increase of the borrowing cost for Rome as a result of two parallel effects.
Article | April 12, 2012 - 11:23am
The IMF issued a report on 10 April concerning household debt which calls for more subsidies to the financial sector; this time to cover the losses of banks from over-lending to households.
During the hard times of any financial crisis, the usual complaint by all agents is that there is no light at the end of the tunnel. But “my fellow citizens”, if there was solid and tangible evidence for an end to any crisis, there would have been...no crisis.
Article | April 8, 2012 - 8:48pm
The Icelandic Ministry of Finance has released the Treasury’s Medium Term Debt Management Strategy for 2012-2015, which sets forth the government’s plans for debt financing plans for the specified period, Iceland Review reported.
The Icelandic Ministry of Finance has released the Treasury’s Medium Term Debt Management Strategy for 2012-2015, which sets forth the government’s plans for debt financing plans for the specified period, Iceland Review reported.
It provides a description of the composition of the debt portfolio, inherent risk factors and contingent liabilities. The institutional structure regarding debt management is also described, as stated in a press release from the ministry.
Article | April 8, 2012 - 9:39pm
Germany’s leading maker of solar cells, Q-Cells, said on 2 April it was ready to file for bankruptcy as it no longer saw any secure financial basis for a continuation of its business.
Article | April 3, 2012 - 3:18pm
Peter Bofinger, the well known German economist, said this week that he expects Greece to undergo a new rearrangement of its sovereign debt not later that this summer.
Peter Bofinger, the well known German economist and prominent member of the prestigious Council of Economic Experts, which advises the Berlin government and Parliament on economic policy issues, said this week that he expects Greece to undergo a new rearrangement of its sovereign debt not later that this summer.
It was a rather awkward statement by someone who is well aware, if not deeply implicated in planning the current rearrangement of the Greek debt, which is still in progress on its foreign law bonds segment.
Blog entry | April 1, 2012 - 8:41pm
There is a lot of talk going on over the exemption of the European Central Bank's and some national Eurozone central banks' holdings of Greek bonds from the 53.5% 'haircut' inflicted on all private (bank) holders of such debt paper, under the Private Sector Involvement (PSI) operation to alleviate Athens from a good part of its debts. It must be noted that these central banking institutions purchased the Greek bonds they still hold, not from the issuer but in the secondary market during the past months.
Article | March 25, 2012 - 7:39pm
Fitch Ratings has affirmed the Long-term Issuer Default Ratings (IDRs) of seven Belarusian banks. Belarusbank (BBK), Belinvestbank (BIB), BPS-Sberbank (BPS), Belgazprombank (BGPB), Belvnesheconombank (BVEB) and VTB Bank (Belarus) CJSC (VTBB) have been affirmed at B- with a Negative Outlook, and CJSC BTA Bank (Belarus) at CCC.
Fitch Ratings has affirmed the Long-term Issuer Default Ratings (IDRs) of seven Belarusian banks. Belarusbank (BBK), Belinvestbank (BIB), BPS-Sberbank (BPS), Belgazprombank (BGPB), Belvnesheconombank (BVEB) and VTB Bank (Belarus) CJSC (VTBB) have been affirmed at B- with a Negative Outlook, and CJSC BTA Bank (Belarus) at CCC.
