The European Union has been heaping the criticism on Spain vis-à-vis the way it has been dealing with savings banks and tax policy. But Spain has not taken this lying down. Indeed, according to a Bloomberg article it has been “persuading the EU to water down judgments issued as part of a new economic-policing system.”… Continue Reading
The big wigs met yesterday in Paris with the goal of making peace with Euro authorities vis-à-vis how investors will participate in the Greek sovereign debt reconstruction. According to an article in The Financial Times, this is also meant to ease Greek’s burden as well as make the “banks’ original plan that would have seen… Continue Reading
Troubled Times for Greek Finance; Not Happy Swiss The Greek economy is up the creek without a paddle. As well, this is impacting the Swiss populace which is now sitting around watching this turmoil unfold. The Greek parliament has just said yes for increased austerity in an effort to meet EU-IMF bailout terms. This led… Continue Reading
According to a recent news article in The Irish Central (from newly-released figures from the Irish Small and Medium Enterprises Association [ISME]) it might not be such good news for the Irish government that the black economy is experiencing an intense revival. Indeed, figures showed that this success was actually causing the government “$7billion in… Continue Reading
Europe: Top Marks for Denmark In an editorial by Allister Heath in City AM wrote in a recent editorial, that, perhaps somewhat surprisingly (or extremely actually damn right shocking), it seems that today, Denmark has become “Europe’s pioneering financial reformer.” This, Heath believes, comes with an important financial message for those who want to become… Continue Reading
Instability in Italy’s Investments: Blame Game Greece They say that George Michael of Wham! fame had some Italian in him…or was it Greek? No matter since both countries seem to be in on this latest financial debacle. And that might not be so far from what’s happening with the Italian financial markets as of late.… Continue Reading
Last Friday, for a third consecutive day, Wall Street plummeted. According to a Reuters report by Edward Kurdy, this was due to “worries about the Italian banking sector and Greece's debt crisis.” Despite this, the S&P 600 still had its “200-day moving average in a sign buyers still see value.” Still, all was not smiles… Continue Reading
Global Financial Crisis Ending It seems like the global financial crisis is coming to an end finally. The count of millionaires is increasing once more. According to the World Wealth Report, levels last year increased by 8.3 percent to 10.9m and America seems to home to a lot of these, ranking one percent of the… Continue Reading
Greece Causes Problems for Eurozone In a recent article, it was reported that Didier Reynders, Belgian’s Finance Minister, feels that Greece’s debt crisis is so bad that it could actually spread “as far as France.” He said that should Greece be the “first country to default,” people will start looking towards places like “Ireland, Portugal,… Continue Reading
Financial stability can trace back a long way, according to an article today in the Irish Times. Indeed, the September 2008 unilateral bank guarantee from Ireland was, according to EU commissioner Joaquin Alumnia, what “trigger[ed] subsequent EU-level actions to preserve Continent-wide financial stability.” Alumnia’s Criticisms Alumnia was addressing a group of bankers yesterday in Dublin… Continue Reading