mynameisandhy Posted July 2, 2014 Author Report Share Posted July 2, 2014 News and Review of European Economic Zone (UK) UK Construction Activity Rises For 14th Month streak Wednesday, July 2, 2014 Activity in the UK construction sector expanded for the 14th consecutive month in June, which is once again supported by the construction of the house. Commercial construction also increased from May, based on the results of a survey released Wednesday. Reports Markit and the Chartered Institute of Purchasing & Supply showed UK construction activity index rose to 62.6 last month from 60.0 in May. That nullifies the estimated decline to 59.5 from economists. Construction of residential houses back into the main driver of the construction sector in June, with activity growing at the fastest pace since January. Commercial construction also increased compared to the month of May, while the growth of civil engineering activity was reported experiencing a slowdown in June. The slowdown is more due to new infrastructure projects less flood relief and related activities that will soon expire. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 2, 2014 Author Report Share Posted July 2, 2014 News and Review of European Economic Zone (France) Consider the French Government Tax Cuts in 2017 Wednesday, July 2, 2014 French Prime Minister, Manuel Valls, said taxes for low-income households and moderate it shall again be reduced in 2017. 2015 budget plan for tax cuts for taxpayers approximately 3.7, Valls said should be improved further in 2017. "overall, the tax for low-income and middle-class households should be lowered "Valls said without elaborating on a daily business. The policy was introduced by the French President, Francois Hollande, two years ago to raise income and corporate taxes to reduce the deficit and fund spending has been a great boomerang of failing to overcome rising unemployment and spark public discontent. President Hollande crew this year with promises to change the policy of spending cuts amounting to $ 68.35 billion, cuts taxes for companies that have a competitive edge, and cut the income tax that will begin next year. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 3, 2014 Author Report Share Posted July 3, 2014 News and Review of European Economic Zone (Portugal) Portugal Bond Sales One of the most successful in history Thursday, July 3, 2014 Portugal successfully implement its bond sales this week. But apart from that success, there is still a fascinating record that characterizes the country's return to the regional credit markets. Portugal sells debt-based dollar tenor of 10 years and successfully raised $ 4.5 billion. Target only the government had the funds from the sale of bonds as much as $ 4 billion, but due to the large order, achievement capital swelled to $ 4.5 billion. The bond sale is a transaction of government bonds U.S. Dollar greatest in the history of Europe. Moreover, Portugal has never issued a debt of this magnitude before. Portugal bond sale also the largest after the issuance of debt Germany back in 2005, in which the achievement of the fund reached $ 5 billion. This impressive record shows the magnitude of investor confidence in the country coming out of the bailout program last May. Portugal had been declared healthy and are entitled to a return of economic freedom is lost after a hit by the European debt crisis. Nevertheless, the country still faces challenges in the form of swelling debt burden by 214 billion euros ($ 293 billion) or the third highest debt in the euro zone by calculating the percentage of the gross domestic product. Portugal's economy contracted by 4% compared to 2010, a year before the Portuguese government requested assistance from international lenders. After the crisis hit, 10-year bond yield rocketed Portugal almost doubled compared to the performance of French bond yields. The three largest rating agencies world even consider Portugal as the country with the status of 'non-investment'. The success of the bond sale yesterday is very important to increase the confidence of economic actors in the country Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 3, 2014 Author Report Share Posted July 3, 2014 News and Review of European Economic Zone Euro Zone Business Still Wheels Slow in June Thursday, July 3, 2014 The business activities of private companies increasingly sluggish euro zone in June. Decreased arousal business in accordance with the initial estimate of the Markit research institutions some time ago. Purchasing Managers' Index (PMI) combined version Markit euro zone fell from 53.5 (May) to 52.8 in the month of June 2014. While the service sector PMI figure fell from 53.2 to 52.8 or in accordance also with the results of the initial estimate (flash) released by Markit. From several countries included in the calculation, Italy became a country that recorded the best performance of the business. The composite PMI hit a best of this country in the last 38 months, where most of the contribution given by the increase in service sector actors. While the wheels of business and the German manufacturer is still growing despite the index numbers appear at the lowest level in eight months. France is still a country with the worst performance of the PMI in the Euro zone and inhibits the rise in the composite index in June. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 3, 2014 Author Report Share Posted July 3, 2014 News and Review of European Economic Zone Weak inflation, the ECB kept interest rates Thursday, July 3, 2014 The European Central Bank on Thursday decided to keep interest rates unchanged despite signs of continued weakness in inflation threaten the fragile recovery in the Euro zone. Policy makers still seems to await the right moment to enact stimulus measures announced last month. The 24-member policy board agreed to keep its key lending rate at 0.15%, and the deposit rate at minus 0.1%. However Thursday's policy decision was widely anticipated, especially after the ECB last month introduced several programs that aim to shore up the economy and boost bank lending. ECB President Mario Draghi is scheduled to discuss the policy of the central bank's outlook in a monthly press conference to be held shortly. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 5, 2014 Author Report Share Posted July 5, 2014 News and Review of European Economic Zone Increase in Productivity Can End the ECB Interest Rate Policy Friday, July 4, 2014 The only way to end the policy of low interest rates is the increase in the level of productivity in the euro zone, according to ECB board member Benoit Coeure. The increase in productivity can be achieved by continuing the reform and consolidation of government budgets. ECB's Coeure express the government should not see a low interest rate policy as a prelude to ignore fiscal prudence. The ECB has cut interest rates on loans to low levels of 0.15% and enacted a negative deposit rate at the June meeting. ECB's Draghi also reiterated that interest rates will remain low after the European Central Bank monetary policy does not change overnight. However, the ECB's Weidmann express concerns that low interest rates have reduced the incentive for governments in the euro zone for economic reform. Europe is now debating the appropriate fiscal policies to spur the sluggish economic activity. Prime Minister of Italy Matteo Renzi, who also recently served as president of the European Union, has called for a shift from the policy of austerity policies budgetary expansion. EU summit last week also signaled a desire to give more time for the members of the European Union in consolidating the budget for policy reforms carried out Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 5, 2014 Author Report Share Posted July 5, 2014 News and Review of European Economic Zone (UK) Possibility BoE Rate Increase Increase This Year Friday, July 4, 2014 Bank of England (BoE) will not raise interest rates until early next year but the possibility of higher interest rates rapidly increasing, according to the latest Reuters survey. Estimated mean of 60 economists showed the BoE will raise interest rates by 25 bps in the first first quarter of 2015. However, no increase in the portion of the possibility of 30% to 40% that the BoE will raise interest rates this year. None of the economists who predicted the BoE monetary policy changes at the next meeting July 10. However, 21 of 63 economists see the possibility of a rate hike this year. It's more than 4 out of 52 economists in a previous survey ahead of the BoE meeting in June. "It is difficult to determine whether interest rates will rise in 2014 or in early 2015," said Peter Dixon, economist at Commerzbank. BoE officials have given mixed signals to potential future BoE rate hike. BoE officials have downplayed the possibility of a policy change in 2014. Nevertheless, some officials have intimated BoE rate hike faster if the UK economy continues to improve. However, BoE Governor Mark Carney reiterated the central bank will raise interest rates gradually and limited Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 5, 2014 Author Report Share Posted July 5, 2014 News and Review of European Economic Zone (Germany) German Manufacturing Orders Fall in May Friday, July 4, 2014 Geopolitical turmoil that occurred in Europe weighed on the level of confidence that the German economy would make the number of German factory orders fell more than economists forecast. Destatis report on factory orders fell 1.7% in May from April, which rose 3.4%. Economists had expected factory orders to fall by 1.1%. For export orders were reported down 1.2% in May from the previous month, while domestic orders fell 2.5%. Germany is still the driving force to help the weak economies in the euro zone despite data released recently signaled slowing German economy. Bundesbank said German economic outlook is still positive, while the European Central Bank to rely on stimulus that has not been applied previously to trigger economic growth and inflation block of 18 countries. German Bundesbank forecast economic growth in 2014 of 1.9% and 2% in 2015. While the ECB memeprkirakan Eurozone economy grows 1% in this thun, and 1.7% in 2015 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 7, 2014 Author Report Share Posted July 7, 2014 News and Review of European Economic Zone ECB Couere: We Care At Risk Assets Buble Monday, July 7, 2014 ECB executive board member, Benoit Couere said that currently the bank's monetary policy on interest rates near zero level for a longer period may increase the risk of a bubble in asset prices. Couere said that the International Bank of Settlements is right to show the existence of a risk that cheap money may be able to trigger a remarkable rise in some assets in the euro zone that have an impact on the risk of a systemic crisis when it finally exploded. The International Bank of Settlements add a warning to a call for a rate hike despite tifak Couere said that the ECB will answer every bubble in asset prices with higher interest rates. "We fully care about the risk. We have to deal with it and we are ready to deal with the other tools that we still have, "said Coure during a lecture given at the Aix-en-Provence when he attended the annual business conference Rencontres Economiques. Coeure comments echo what was said by the chairman of the ECB Mario Draghi at the beginning of last week that the best way to reach an agreement with the financial instability should use macro-prudential tools are new and not by monetary policy, such as changes in banking regulation, by tightening lending standards used by commercial banks, for example. Coeure added that the ECB is committed to maintain the benchmark interest rate near zero level for a long period, which in turn tends to lead to differences in monetary policy by the U.S. and Britain. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 7, 2014 Author Report Share Posted July 7, 2014 News and Review of European Economic Zone (Germany) German Industrial Production Down 1.8% In May Monday, July 7, 2014 German industrial production fell ffor the third month in May amid signs of a country with the largest economy in Europe were taking a short break. Total production, which are customized for seasonal fluctuations, fell 1.8% from April, when production fell 0.3% in the revision, in the report by the Ministry of Finance in Berlin today. Economists had expected production still will not change, according to the estimates of 35 economists in a Bloomberg survey. Total production rose by 1.3% in May from a year earlier when adjusted for working days. In the current trend of the German economy showed "significant increase," growth probably slowed in the three months to June, the Bundesbank said. Total factory orders fell more than economists expected in May, the level of the Ifo business confidence fell to the lowest level in six German industrial buProduksi down ffor the third month in May amid signs of country i second quarter, "said Jens-Oliver Niklasch, fixed income analyst at Landesbank Baden-Wuerttemberg in Stuttgart. "But in general, the German economy is still pretty good and there is no reason to worry about as level pertumbugan still solid." Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 8, 2014 Author Report Share Posted July 8, 2014 News and Review of European Economic Zone ECB's Member: QE Tools Policies Should Be Emergency Tuesday, July 8, 2014 Member of the executive board of the European Central Bank, Sabine Lautenschlaeger said that policy makers should only consider such a radical program of monetary easing if the euro zone were on the brink of deflation. "At the current pace as it becomes part of the public policy tools, such as a prerequisite for monetary policy measures are very high as it certainly gave a very significant side effects," said Lautenschlaeger in Hamburg yesterday. "The only situation that really an emergency, for example in the case of deflation that will happen, in my view, the instrument can be considered. The risk is not visible, so we did not expect it. " ECB steps in combating the risk of a decline in consumer prices last month with a series of stimulus measures including benchmark interest rate near zero level, negative interest rates on deposits and flood of liquidity to banks, aims to revive lending to the real economy. ECB President Mario Draghi has promised to further action such as monetary easing if the outlook fatherly consumer prices in the eurozone worsened. Inflation in the Euro area have been below the level of 1% for the nine months, compared with the ECB's target level of 2%, and is currently at the level of 0.5% in June Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 8, 2014 Author Report Share Posted July 8, 2014 News and Review of European Economic Zone (Greece) Greece not Need Bailout III Tuesday, July 8, 2014 Greece rejected calls to consider a bailout III as ECB President Mario Draghi warned of the slow pace of economic recovery, according to a Bloomberg report. In a meeting of euro-zone finance ministers yesterday, the Greek uttered no need for a further bailout after bailout program II ended. However, EU officials still see the need to submit additional financial aid Greece. The troika wants Greece to focus on reforms of the policy rests on improved market sentiment. Greece faces a funding shortfall as much as € 12 billion for 2015. To avoid a bailout, Greece is planning to issue bonds in the financial markets for funding. Greek bailout program will terminate at the end of 2014; but there are still doubts about Greece's commitment to implement the reforms. "Greece must show rapid development of policy reforms that have been promised," said the chairman of euro zone finance ministers Jeroen Dijsselbloem. Greece yesterday to get bailout disbursement of € 1 billion and has only one disbursement Greek bailout worth € 1 billion again in September. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 8, 2014 Author Report Share Posted July 8, 2014 News and Review of European Economic Zone (Germany) German Import And Export Value Down In May Tuesday, July 8, 2014 Germany export and import values fell in the month of May, in the government data show on Tuesday, reflecting the slowdown in economic activity. On a monthly basis in seusaikan, the value of exports in May fell by 1.1%, while imports fell 3.4%, the sharpest monthly decline since a November 2012, in the report by the federal statistics bureau Destatis. In April, both exports and imports rose in value on a customized basis, the value of exports rose 2.6% and imports rose 0.2%. Data on the revision of preliminary figures show 0.3% rise in exports in April, and imports rose slightly by 0.1%. EU countries make up the majority of German exports in May, where they accounted for 53.1 billion euros ($ 72.2 billion) of total German exports amounted to 92 billion euros. Germany's trade surplus in May amounted to 18.8 billion euros, the seasonal and calendar adjustment. Economists surveyed by The Wall Street Journal earlier estimate for a surplus of 16.2 billion. German current account surplus, which is the broadest measure of trade and investment income, narrowed to 13.2 billion euros in May, well below analyst estimates at 14.5 billion euros in April and revised to be 16.9 billion current account euro.Pembacaan prior to April amounted to 18.4 billion euros. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 9, 2014 Author Report Share Posted July 9, 2014 News and Review of European Economic Zone (UK) UK Manufacturing Output Injuring Sterling Wednesday, July 9, 2014 Sterling slumped on Tuesday after a surprise drop in manufacturing output and industrial Britain encourage a trader to profit taking over Cable rallied strongly last month. Office for National Statistics report showed factory output fell 1.3% in May. The largest decline since January 2013 that occurred after the manufacturing sector recorded the strongest growth in almost four years in the first quarter. Meanwhile, industrial output, which accounts for 15% of the economy, fell 0.7% in May. Which is the biggest decline since August 2013. "The key question is to what extent the data should be seen as a sign of a potential slowdown in the growth momentum further. However, we do not think that it's the middle leading up to it," said Valentin Marinov, a currency analyst at Citi. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 9, 2014 Author Report Share Posted July 9, 2014 News and Review of European Economic Zone (UK) Halifax: UK House Prices Rise In Second Quarter Wednesday, July 9, 2014 UK house prices rose in the second quarter, following the improving economy and rising confidence are driving the demand for property, according to Halifax. Home values rose 2.3% in the three months to June to an average of 183.462 pounds (314.200 USD), said mortgage unit of Lloyds Banking Group Plc said in a statement today on their website. At current prices fell 0.6% in the month of May, they jumped by 4% for the month, it was the highest since October 2002. "Demand for homes continues to be supported by the economic recovery was gathering speed," said Stephen Noakes, mortgage director at Halifax. Levels of workers and the increasing number of consumer confidence should also boost the market, he said. Home prices rose 9.4% in June from a year ago, says Halifax. In the second quarter they rose 8.8% from the same period in 2013, it is the largest increase since 2007. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 9, 2014 Author Report Share Posted July 9, 2014 News and Review of European Economic Zone (France) French Trade Balance Deficit Widens in May Wednesday, July 9, 2014 French Treasury Department reported the trade deficit widened in May from the previous month due to higher imports. The deficit in May was reported at € 4.9 billion, compared with the previous month at € 4.1 billion. During the period reported imports rose by € 873 million. The increase in imports was mainly due to rising oil imports. Meanwhile the Bank of France says French economy rebounded in the second quarter of this year after posting growth of 0% in the first quarter. The Bank of France also retains forecasts gross domestic product growth rate in the second quarter by 0.2% from the previous quarter. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 10, 2014 Author Report Share Posted July 10, 2014 News and Review of European Economic Zone (UK) UK Trade Deficit Widens in May Thursday, July 10, 2014 UK goods trade deficit widened in May following a surprising surge in imports of aircraft activity, which is reminiscent of the market is still much work to be done by the government to balance the economy from consumer spending. Office for National Statistics report on Thursday showed the UK trade deficit widened to £ 9.2 billion in May from a deficit of £ 8.8 billion in the previous month. The deficit was larger than expected £ 8.7 billion. Import aircraft reportedly increased to £ 1.2 billion in May, from £ 800 million in April. The increase was also highlighted the fact that the UK manufacturing sector and exports still require support and further growth. It was necessary to balance the economy and help ensure long-term growth is still highly dependent on consumption. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 10, 2014 Author Report Share Posted July 10, 2014 News and Review of European Economic Zone (Italy) Italian Industrial Output Slump in May Thursday, July 10, 2014 Italian industrial production slumped in May, becoming the biggest monthly decline since November 2012. Entire industrial sector recorded a decline except for the energy sector. Istat reported industrial output in Europe's third largest economy is slumping 1.2% in May from the previous month. The slump at the same time break the expectations of a rise of 0.1% by economists. Investment goods led the pernunan of 1.7%, followed by intermediate goods and consumer goods amounted to 1.5%. While energy sector recorded an increase of 0.8%. Compared to the period of May 2013, Italian industrial production fell 1.8% according to Istat. Economists had expected a gain of 1.2%. Istat also revised down in April, becoming the percentage of 0.5% from the previous release of 0.7%. As for year-on-year in April were also revised down to 1.4% from 1.6% Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 10, 2014 Author Report Share Posted July 10, 2014 News and Review of European Economic Zone (France) French Inflation Stable In June Thursday, July 10, 2014 French statistics bureau, Insee, reported stable inflation in June than in May due to a decrease in the price of manufactured products offset the rise in prices of products services. Inflation reported unchanged or 0% in June from May, when compared with June 2013, inflation rose 0.5%. Economists had expected inflation to France in June rose 0.1% from May, and 0.7% from June 2013. Another report showed French industrial production surprisingly fell in May due to manufacturing production recorded the largest monthly decline in 18 months, while the energy sector rebounded. Industrial production fell 1.7% from April, economists had expected a gain of 0.1%. Manufacturing production slipped 2.3% in May from April, to be the biggest since September 2012 Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 11, 2014 Author Report Share Posted July 11, 2014 News and Review of European Economic Zone (UK) British Construction Output Drops in May Friday, July 11, 2014 UK construction output slumped in May, signaling the overall economic outlook in the second quarter is probably slightly lower than expectations. The surprise drop in the rate of adding the rapid recovery of the British economy in the last year the possibility of loosening. Office for National Statistics reported construction output fell 1.1% in May from the previous month, which rose 1.2%. The percentage break expectations rise 0.8% by economists. In the three months to May, the output decreased by 0.8%, being the largest since October 2012. Kostruksi sector only accounts for 6% of total UK gross domestic product, but since the end of last year the sector to drive economic growth as a result of the low interest rates that make housing prices rose sharply boosting residential construction Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 11, 2014 Author Report Share Posted July 11, 2014 News and Review of European Economic Zone (Germany) Despite Increases, Inflation Germany Still Weak Friday, July 11, 2014 Germany's inflation rate rose in June, according to a report Friday Destatis statistics office, which confirmed the initial projection 2 weeks ago. Referring to the calculation method of the European Union, prices grew by 0.4% in June and 1.0% higher than a year earlier. The annual inflation rate was faster than the 0.6% recorded in May. If the calculation method is based on a national, German inflation grew by 0.3% in June and rose 1.0% from a year ago. The low rate of inflation in one of Europe's strongest economy continues to be a challenge for the European Central Bank, which is struggling to revive the inflationary pressures in the euro bloc and support economic growth. Euro zone inflation itself only at a level of 0.5% in June, well below the ECB's medium-term target of close to 2%. Low inflation in Germany also complicate efforts to countries with smaller economies in reducing prices and wages down to more competitive levels Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 11, 2014 Author Report Share Posted July 11, 2014 News and Review of European Economic Zone (France) French Current Account Deficit Widens Friday, July 11, 2014 French current account deficit widened in May from April as the goods deficit increased and reduced surplus in the services sector, the data show the Bank of France on Friday. France, which is the country with the second largest economy in the Euro zone current account recorded a deficit of 3.1 billion euros ($ 4.2 billion) in May compared with a deficit of 2.3 billion euros in April. The deficit in goods in May reached 3.5 billion euros from 3.2 billion euros in April. While the surplus in services narrowed to 1.4 billion euros from 1.9 billion euros in the same peridoe. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 11, 2014 Author Report Share Posted July 11, 2014 News and Review of European Economic Zone Nowotny: ECB No Needs Urgent Measures To Provide The Latest Friday, July 11, 2014 The new stimulus package from the European Central Bank has an impact to the market and there is no urgency to take additional action, said the ECB governing council member Ewald Nowotny. "I do not see the need for further action in the short term, at least not in the field of monetary policy," Nowotny said in an interview in London yesterday. "We have quite aware of the fact that monetary policy has limits." The historic central bank action last month that included negative interest rates and lending to banks in targeting for the long-term to counter the threat of deflation in the euro zone. In the current ECB president Mario Darghi said that policy makers are willing to use more radical action by a broad-based asset purchases if necessary, Nowotny komentara it is a signal that an agreement on any action should not be taken for granted in. "We've seen some positive things, which refers to a certain easing of financial conditions at the European level and also a trend that is able to stop the appreciation of the euro," he said. "Let's wait and see to what extent its development. I firmly reject the attitude that the ECB should have showed new tricks at every meeting. " Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 14, 2014 Author Report Share Posted July 14, 2014 News and Review of European Economic Zone Euro Zone Industrial sector sales drop in May Monday, July 14, 2014 Tingkar euro zone industrial production fell sharply in the month of May with the energy sector is the only sector that survived, according to data on Monday, showed the fragility of the economic recovery in the euro zone. Output in the 18 countries that use the euro con as much as 1.1% in May, following a rise of 0.7% in April, according to Eurostat, the statistical office of the European Union. Analysts expect a monthly decline of 1.2% in May. Compared to the same period last year, factory output grew gate corresponding market expectations of 0.5% after an increase of 1.4% in April. The decrease in the monthly data, led by a 2.4% decrease sebeasr on intermediate goods production, such as auto parts. There was also a decrease sebeasr 2.2% at the level of production of non-durable goods such as food and cosmetics. The energy sector was the only sector to grow towards justice, showed an increase of 3% after growing 1.2% sebeasr in April. The level of industrial production in the three largest euro zone economies, Germany France and Italy, fell on a monthly basis. Germany scored the biggest drop since May 2013, with a decline of 1.4%. France, with a decrease of 1.3%, the largest decline in print production level since June 2013. Production and the level of Italy scored the worst performance since May 2013 with a 1.4% decline. German economic slowdown has cast doubt on eurozone recovery prospects this year, with no other major economies are strong enough to cover the shortfall. Since late last year the euro zone economy which has been valued at 9.6 billion euros during the second 2 years of recession, but the recovery is still hampered by the continued tightening, unemployment rate, and anxiety in the market. Investors will be looking forward to the German ZEW survey of economic sentiment on Tuesday to meliaht how big the impact of the crisis in Ukraine against sentiment in Germany. Mario Draghi, the European Central Bank gubernut, will speak at the European Parliament on Monday night and munkgin will reveal his thoughts. Quote Link to comment Share on other sites More sharing options...
mynameisandhy Posted July 14, 2014 Author Report Share Posted July 14, 2014 News and Review of European Economic Zone (Portugal) Portugal Will Not Bailout Troubled Bank Monday, July 14, 2014 Prime Minister Pedro Passos Coelho of Portugal uttered the government will not bail out troubled banks. It certainly signals that the Portuguese government will probably not provide financial support to Banco Espirito Santo (BES) that is feared experiencing solvency problems. "Private companies have to bear the consequences of bad deals done. Folk Money will not be used to cover the losses of banks," said Coelho. However, the government and the central bank reiterated Portugal Portugal is still a credible financial system in an effort to calm the panic after the issue of the stability of Banco Espirito Santo (BES), the largest bank in Portugal. BES, governments, and central banks BES express Portugal may face problems which are hindering its parent company Espirito Santo. BES express has a € 2.1 billion capital reserve; above the minimum regulatory banking Portugal. BES express the potential loss of Espirito Santo Holding conglomerate reached € 1.5 billion. BES financial condition to get the attention of investors after its parent company Espirito Santo defaulted on the interest payments of bonds Quote Link to comment Share on other sites More sharing options...
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