There’s a scene in the film ‘Four Lions’ where one of the characters picks up a hand-held surface-to- air missile, aims it at a plane and fires. Only then did he realise he was holding it the wrong way round and that the missile went shooting off behind him. The current talk of the ECB’s big bazooka reminds me of this scene, because even if the ECB were able to find and fire this weapon, there’s a good chance that it could have similar unintended consequences.
17/11/11 @ 13:07 GMT by Simon Smith, Chief Economist
17/11/2011 @ 10:45 GMT
17/11/2011 @ 08:26 GMT
16/11/2011 @ 10:28 GMT
16/11/2011 @ 08:15 GMT
Bullied by global investors into implementing stricter capital adequacy requirements, the European Banking Authority has (predictably) contributed to the contagion that is afflicting Europe’s bond markets. Unable and unwilling to raise fresh capital to meet the new targets, the vast majority of Europe’s banks are employing other tactics such as retaining earnings or freezing dividends.
15/11/11 @ 13:45 GMT by Michael Derks, Chief Strategist
14/11/2011 @ 11:48 GMT
The crux of the matter in Italy is the degree to which this is a fiscal or political crisis. The question is valid because the fiscal and economic backdrop is different and in many ways not as extreme as for the recently bailed-out nations. At the same time, the politics of Italy is more fractured than for pretty much any other eurozone nation.
10/11/11 @ 13:41 GMT by Simon Smith, Chief Economist
10/11/2011 @ 08:11 GMT
07/11/2011 @ 09:44 GMT
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