Saturday, December 31, 2011

Euro cash: 10th anniversary

Dear reader,

the new year is also an anniversary for the existence of the Euro bills & coins some media are honoring that occasion with some special reports:

Jan 03rd 2012 Euro Hits New Lows
Jan  01st 2012 The last secrets of the euro banknotes (ger)
Dec 31st 2011 Not so europhoric now: How the BBC has changed its tune after ten years of the single currency
Dec 31st 2011 Euro cash nears its 10th anniversary
Dec 31st 2011 No Fireworks for Euro as It Reaches 10-Year Mark

Dec 31st 2011 The rise and fall of the euro, ten years on

Dec 31st 2011 10 years of Euro (dut video)

Dec 31st 2011 10 years of Euro: No euphoria at anniversary day (ger)

Dec 31st 2011 The story of the Euro in numbers (dut)

Monday, December 26, 2011

Tobin tax for Europe (at least)

Eurozoneremarks - Tobin Tax





Dear reader,






one of the many subjects of the crisis approach by EU politicians is the introduction of a Tobin tax. Some players are vividly for its introduction  , some were first skeptical now seemingly not opposed to it anymore and Britain was estranged from continental Europe mainly because of such measures likely to be imposed by EU Commission & national political players.











As the author here became confused himself who is for/ against/undecided it is time to present a compilation of latest developments on this tax on financial transactions.











Germany:
Feb 28th 2012 #
Barry Eichengreen: Tobin tax is a mistake (FTD)
Jan 14th 2012 #
FTT: The Robin Hood tax #( FAZ)
Jan 13th 2012 #
Merkel doesn't want to enforce FTT against will of FDP coalition partner (AFP)
Jan 12th 2012 #
Preventing a relocation of financial activities (FDP)
Jan 10th 2012 #
Merkel takes Sarkozy more serious than FDP #(WSJDeutschland)
Dec 26th 2011 #
Schäuble pushes the gas throttle in struggle for Tobin tax (reuters)
Aug 20th 2011 #
FTT: Resistance against Merkel and Sarkozy (ftd.de











The Netherlands:
Jan 14th 2012 *
10% less pensions by European FTT (vno ncw)
Sep 29th 2011 *
Cabinet dislikes plan of Barroso completely (nuzakelijk)





CPB: "Financial transaction tax not efficient"(translated version of RTLnieuws) 
Oct 22nd 2011

Netherlands Supports Financial Transaction Tax, Rutte Says (Bloomberg)











France:
Nov 15th 2012

Speculators Find Loopholes in French Transaction Tax (BBG)
Jan 14th 2012

France eyes all securities with Tobin tax (Reuters)





France ready to go solo on financial transaction tax (France 24 )



%
Sarkozy wants faster implementation of Tobin tax (Le Monde)



#
G20 meeting: Sarkozy demands financial transaction tax (Frankfurter Rundschau)



%
French financial sector against isolated initiative by Paris (France24)

Apr 10th 2013



Tobin Tax is madness for Europe, and economic war against Britain





Austria:
May 18th 2010

FTT: Government split (Wienerzeitung)
May 25th 2010 #
ÖVP (=conservatives) wants "FTT light" (DiePresse)
Sep 17th 2011 #
FTT invokes controversy  (Wirtschaftsblatt)



#
(austrian finance minister) Fekter: "Hail Barroso's announcement of a FTT“ (Austrian government news summary)











Italy:





PDL says they would only support a Tobin Tax if adopted by all EU members. #Italy (via @AlbertoNardelli)
Jan 8th 2012 %
Italy open to a Tobin tax on European scale (TF1)
Jan 8th 2012

Italian Prime Minister Mario Monti: 'The euro is not in crisis' (Telegraph)











EU: 
Jan 9th 2012

Tobin tax 'could leave €116bn hole in EU finances', Ernst & Young warns (Telegraph)
Oct 3rd 2011

European politicians plot to block UK veto on 'Tobin tax'(Telegraph)
Dep 28th 2011

FTT: EU commission wants to tax financial transactions (Focus)











UK:





Subject: Tobin tax (Guardian





George Osborne attacks Tobin tax (Telegraph video) 
Dec 6th 2011

Paddy Ashdown: We need a Tobin tax – but not to fill black holes (The Independent
Jan 8th 2012

David Cameron: I will block EU financial transaction tax (Telegraph
Jan 9th 2012

Tobin tax 'could leave €116bn hole in EU finances', Ernst & Young warns (Telegraph)











Denmark:
Jan 10th 2012 #
Denmark also against EU wide Tobin tax. Also a topic at meeting Lagarde/Merkel (Deutschlandfunk )











Sweden:
Jan 16th 2012

Ex-minister: financial transactions tax 'failed' (The local)





other: 
May 17th 2010 #
Attac: 270 bn Euro from financial transaction tax (Die Presse)



#
Special reporting on FTT subject by diepresse.com
Oct 15th 2009 #
Sense and nonsense of FTT (Profil)











#=german *=dutch %=french











references for Tobin tax:





The Tobin tax explained 




pdf James Tobin in a prologue to the book: "The Tobin tax"
-->

Saturday, December 24, 2011

Major Players

Dear reader,

in this section you will find some articles about "major players" of the Eurozone. A section for statements of central bankers is already online and now available material about politicians will be supplied. Main priority is to provide some info of how those "players" are thinking and how they are influenced by their past and their character.
As always don't expect everything to be available from the beginning, but this will also be a "growing knowledge base". So by checking in once in a while you will find more info stored here. Pretty much the same procedure as in the other blog entries were there are the sometimes very dynamic events of the Eurozone are being put into their fitting blog entry (file). Also nothing new is the fact that some valuable info is only available in other languages. But e.g Google translate often delivers some usable results and perhaps a few articles were translated here on this blog. (Of course there will be a link if that's the case)

Friday, December 23, 2011

Eurofun

Cartoon section

Cartoon1 
Greek Exit          
(nur Mut= have courage;Sie verlassen die Eurozone=You are leaving the Eurozone; 
 Das verschafft Dir völlig neue Möglichkeiten=That'll give you completly new opportunities.)


2010 EurOSCAR awards (The economist)


Saturday, December 17, 2011

ECB as the lender of last resort (LOLR) Who is for/against/undecided

Dear reader,

this blog entry will be filled with some articles elaborating on known positions of some people of the financial world/ economics / politics.

As always content will be updated constantly in all three categories. Names will be connected to available biographies and numbers will contain a link to an article where their position on LOLR is described. It can be assumed that sometimes more than one source is available and useful. 

If links are in other languages than English: *=dutch;#=german;+=french

for                                              against                                  undecided/other   

François Hollande 1                     Jürgen Stark 1 2#                    Megan Greene 1 
Lucinda Creighton 1                     Jens Weidmann 1 2                 Vítor Constâncio 1 
Dale T. Mortensen 1                    Angela Merkel 1
Bill Gross 1 2                              Gonzalez-Paramo 1
Paul Krugman 1                           Manfred Neumann# 1
Paul de Grauwe 1 2                      Craig Pirrong  1
Charles Wyplosz 1                       Otmar Issing 1
Lex Hoogduin 1*                          Daniel Susskind 1
Bas Jacobs 1*
Nouriel Roubini 1
John Bruton 1
Anibal Cavaco Silva 1
Manmohan Singh 1
Proinsias De Rossa  1
Jacek Rostowski 1
Mariano Rajoy  1

Statements of central bankers

Eurozoneremarks - Statements of central bankers





Dear reader,






here you will find some statements issued by members of European central banks. Not only by ECB but also some national central banks. As far as policy changes are concerned they will also be added to the blog entry: "calendar and official policies"






Mar 30th 2012 #
Jürgen Stark: „Das Vertrauen in die EZB geht verloren“
Mar 29th 2012

Klaas Knot: Dutch govt negotiations mustn't fail (dut)
Mar 15th 2012

Klaas Knot: The future of EMU and Netherlands' place in Europe(BIS)(pdf,eng)
Mar 14th 2012
pdf BoE: Towards a common financial language (pdf)
Mar 12th 2012
pdf DSK's speech in Cambridge on global polical economic challenges  (pdf)
Mar 12th 2012
pdf Coeré: The reform of financial regulation - priorities from an European Central Bank perspective (pdf)
Jan 20th 2012
pdf Andreas Dombret: Systemic risk analysis and crisis prevention (pdf)
Jan 19th 2012

BoG chief: Politics is to blame
Jan 18th 2012 %
Gonzalez-Paramo:"A default of Greece is not neccessary and less likely" (fre)
Jan 18th 2012

Hand out smaller bonuses and you can lend more to businesses! Mervyn King blasts banks ahead of payouts
Jan 17th 2012 #
Nowotny: ECB is looking for alternatives to bond purchase programme  (ger)
Jan 13th 2012

Mario Draghi, President of the ECB, Vítor Constâncio, Vice-President of the ECB, Frankfurt am Main, 12 January 2012
Jan 7th 2012 #
Assmussen demands closed ranks among ECB leadership (german link)
Jan 7th 2012 #
ECB Coene: Europe will tackle its debt crisis (german link)
Jan 2nd 2012 * vid Nout Wellink: The Netherlands won't get all its money back from Greece (dutch video)
Dec 31st 2011

Euro could become world's leading currency: Noyer
Dec 27th 2011 *
dutch central bank magazine: Interview with DNB director Jan Sijbrand (dutch link)
Dec 24th 2011

ECB's Visco hints at lower rates if economy worsens
Dec 23rd 2011

Juergen Stark admits ECB bond buying forced resignation



#
              Jürgen Stark: "The Eurozone got on a wrong track" (german link)
Dec 20th 2011 #
Bundesbank Nagel: "Bazooka solution wouldn't work" (german link)
Dec 17th 2011 #
ECB chief economist Stark criticizes velocity of Greek reform efforts (german link)
Dec 16th 2011

BoE:  Consolidated worldwide external claims of UK-owned monetary financial institutions (excluding central bank) End-September 2011
Dec 16th 2011 #
OeNB: Stability of financial markets depending on crisis of state debt (german link)
Dec 15th 2011

Czech national bank: CNB and MoF recommend not to set euro adoption date yet
Dec 13th 2011
vid BoE Dale Says Unclear if BOE Will Add More Stimulus (video)











* = Dutch, # = German, % = French language

Thursday, December 15, 2011

Events after the big Eurozone rescue summit Dec. 9th

Eurozoneremarks - Events after the big Eurozone rescue summit Dec. 9th





Dear reader,











so it's now for the governments to hammer out agreements of tighter budget controls and penalty mechanisms for "sinners".





So in order to keep track of events taking place after the summit you will find here a compilation of such events such as changes in yields, exchange rates and other market reactions as well as advances in legislation agreed upon during the "big summit" of December the 9th. Listed by country as information gets available. The summit results will be put in the "summit & policies" blog entry to be found here. So as always in a fluent situation updates will take place from time to time and since beginning of December you will find a list of updated articles in the section "update policy" in order to see which entries were subjected to such an update.





                                              - The treaty -
Dec 17th 2011

EU sets out "compact" for tighter fiscal rules
Dec 17th 2011

The latest treaty draft (german link)
Dec 17th 2011 *
Economical union (dut/eng link)
Dec 10th 2011

'Golden rule' seen as answer to currency's woes











                                              - Markets -





EUR/USD
Jan 12th 2012

Euro still rising against dollar: $1.2838 now +1.1% after opening below $1.27 at $1.2698 (via @lindayueh)
Jan 9th 2012

EURUSD 1.26685 (via @FGoria)
Jan 5th 2012

Euro: $1.2799 (via ChrisAdamsMKTS)
Jan 5th 2012

EUR/USD hit lowest since Sept 2010 on concern over Europe’s ability to fund sovereigns. After mixed #France bond auction #Euro hit 1.2831. (via @Schuldensuehner)
Dec 14th 2011

Euro rate below 1,30 now











EUR/CHF
Jan 12th 2012

Euro rate 1,2100 (temporarily) (@djfxtrader)
Dec 15th 2011

Euro rate 1,2255





Yields/CDS/spreads (be advised that yields can differ from source to source based on different interpretation, no guarantee whatsoever for values given here: Check Reuters, Bloomberg etc !) 





Ger
Jan 18th 2012

Germany received bids for EUR7.596bn for 2 year note auction vs max sales target of EUR4bn. Average yield was 0.17% & strong demand. (via @lindayueh)
Jan 12th 2012 #
Money for nothing: Wall Street Journal Germany
Jan 11th 2012

German 5 year debt auction sold EUR3.153bn vs max EUR4bn, bids for EUR8.97bn, strong demand 2.8 (v Dec 2.12) & yield lower too 0.9% (v 1.1% (via @lindayueh)
Jan 9th 2012

Germany sells EUR3.9bn of 6-month zero-coupon bills for yield of -0.0122% even if demand is slightly lower at 1.8 & just retained EUR100mln. (via @lindayueh)
Jan 4th 2012

Germany received EUR5.14bn of bids for max E5bn, sold E4.057bn at yield 1.93%. Cheaper than Nov 1.98% but it's demand that's what matters. (via @lindayueh)Dec 29th [10y Bond Yields] Germany= 1.86
Dec 17th 2011 #
Commerzbank could not meet capital requirements without public funding (german link)











Hol
Jan 24th 2012

NETHERLANDS SELLS 1.8B€ VS. €1.5-2.5B INDICATED RANGE IN 2013 AND 2042 BONDS (via @trader1806)
Jan 24th 2012

NETHERLANDS => Sells €465M in 1.75% 2013 Bonds; avg yield 0.074% v 0.861% p - Sells €1.34B in 3.75% 2042 Bonds; avg yield 2.690% v 4.03% p (via @trader1806)











Aut
Jan 10th 2012

Austria sells 10YR bonds at average yield 3.322%, down from 3.528% in the last July auction but yields rose for 5yr bonds 2.21% v 1.96% Nov (via @lindayueh)
Jan 4th 2012

Österreich-Bonität leidet unter Ungarn-Wirren:Kosten für Kreditversicherungen gegen Zahlungsausfall





von #Österreich auf über 200BP gestiegen (via @Schuldensuehner)











Ita
Jan 24th 2012

Italian gov bonds advance for 7th day: 2YR note rises, yield -5bp to 3.53%, 10YR bonds rise, yield -6bp to 6.03% -close to falling below 6% (via @lindayueh)
Jan 20th 2012

Italy Govt Bonds 10 Year Gross Yield 6.306%(via @FGoria)
Jan 18th 2012

Italy Govt Bonds 10 Year Gross Yield 6.419% (via @FGoria)
Jan 12th 2012

Spread and yield fall below crucial levels
Jan 9th 2012

Italy Govt Bonds 10 Year Gross Yield 7.152% (@FGoria)
Dec 29th 2011

Monti pledges market reform and growth in 2012
Dec 29th 2011 #
Monti starts 2nd part of reform agenda:growth package (ger)
Dec 29th 2011

Monti calls for united response to eurozone crisis
Dec 29th 2011

10-year bond yield falls below 7%
Dec 27th 2011

Italy Govt Bonds 2 Year Gross Yield 5.041% - Italy Govt Bonds 5 Year Gross Yield 6.352% - Italy Govt Bonds 10 Year Gross Yield 7.073% (via @FGoria)
Dec 23rd 2011

***Italy Govt Bonds 10 Year Gross Yield 7.015%*** (via @FGoria)
Dec 19th 2011

2YR bond yield <5% for 1st time since Nov 1: 4.98% -31bp; 5YR -29bp 6.06%, 10YR +19bp 6.79%. Yield curve is steepening. (via @lindayueh)
Dec 15th 2011

10yr bond 7,29 % (source Reuters via @FGoria)
Dec 15th 2011

10yr bond 6,77% (ansa.it)











Spa
Jan 12th 2012

Relief for Italy and Spain in bond auctions
Dec 20th 2011

Spanish bill auction yields: 3 mo bills 1.735% (v 5.11% in Nov) & 6 month bills 2.435% (v 5.227% in Nov) -both big drops in borrowing costs (via @lindayueh)
Dec 15th 2011

10 yr bond 5,4% spread to Italian 160 BP (source: Die Welt)
Dec 15th 2011

Solid demand for Spain's bonds
Dec 15th 2011

Spain appears to be a safer bet for investors than Italy











Por
Jan 4th 2012

Portugal April Bill Avg. Yield 4.346% Vs. 4.873% on Dec. 7 (via @Schuldensuehner)
Dec 15th 2011

10yr bond mid yield 12,54 % (via @Tradeweb)











Fra
Jan 16th 2012

French Yields Drop at First Bill Sale Since S&P Downgrade of Nation’s Debt
Jan 3rd 2012

RTRS: French 23-week T-Bill for EUR 2.202bln, bid/cover 2.827 vs. Prev. 4.01 (yield 0.074% vs. Prev. 0.553%) (via @FGoria)
Jan 3rd 2012

RTRS: French 12-week T-Bill for EUR 4.438bln, bid/cover 1.72 vs. Prev. 2.61 (yield 0.023% vs. Prev. 0.005%) (via @FGoria)











Bel
Dec 20th 2011

Dexia Sells Luxembourg Unit to Qatari Fund
Dec 20th 2011 #
Qatar rulers and Luxemburg buy Dexia daughter (german link)











Irl
Dec 19th 2011

Ireland Government Bonds 5 Year Note Generic Bid Yield 7,9920 %
Dec 15th 2011

10yr bond mid yield 8,56 % (via @Tradeweb)











Gre
Jan 10th 2012

Jan  10th Greece sells 1.625B euros (yield 4.90%) and bid to cover ratio at 2.80 (26 weeks T-Bills) (via @EfiEfthimiou )
Dec 15th 2011

Dec 15th 10yr bond mid yield 31,7 % (via @Tradeweb)











(UK)
Jan 18th 2012

UK gilts hit new record lows today: 10 year bond yield 1.92%, 30 year bond yield 2.93% (via @lindayueh)
Jan 10th 2012

UK GBP700M 2047 IL Gilt Sale Cover 1.92; Real Yield -0.116% (via @djfxtrader)
Dec 23rd 2011

UK Govt Bonds 10 Year Note Generic Bid Yield 2,04 %
Dec 16th 2011

10yr gilt 2,05% (via @lindayueh)











(Ch)
Jan 10th 2012

Switzerland sells CHF512.75mln of 364-day bills at a negative yield of -0.251%. (via @lindayueh)
Dec 29th 2011

[10y Bond Yields] Switzerland=0.67 (via @LISwires)
Dec 20th 2011

Switzerland sells CHF773.25mln 91-day bills at -0.431% Yields becoming more negative 12/13 -0.399%, 12/6 -0.32%, 11/29 -0.316%, 11/15 -0.3% (via @lindayueh)





 





                                          - Institutions -





IMF





click here for detailed list (last update Dec 19th 2011) 





EFSF





click here for detailed list (last update Jan 05th 2012)





ESM





click here for detailed list (last update Dec 15th 2011)





ECB 
Jan 9th 2012

Italy banks increased sharply their use of ECB loans to over €200bn last month, accounting for almost a quarter of total liquidity supplied (via @ChrisAdamsMKTS)
Jan 9th 2012

ECB lending to Portugal rises
Jan 4th 2012

Bank deposits with ECB hit record
Jan 3rd 2012 #
Surprising decision: Asmussen not going to be chief economist (ger)
Jan 3rd 2012 #
ECB discusses post of chief economist (ger)
Dec 29th 2011

ECB jumps back in after lukewarm Italian sale
Dec 28th 2011

ECB Balance Sheet Increases to Record 2.73 Trillion Euros
Dec 27th 2011

Nervous banks place record €411bn with ECB as eurozone woes continue
Dec 19th 2011

It depends how much money European banks will get out of the unprecedented ECB 3yr offer. Estimates vary between €450-750 bln. (via @Schuldensuehner)
Dec 19th 2011

Sarko -trade in action:It looks as if banks follow Sarkozy's call for them to use ECB funds to buy sov debt.Span 2yr notes rose for 7th day (via @Schuldensuehner)











Banks
Jan 8th 2012

EU, US and Japan agree to undergo 'detailed' reviews of Basel III implementation
Jan 5th 2012 #
Spanish banks have to capitalize 50bn € for possible mortgage problems (ger)
Jan 4th 2012

UniCredit Slumps on 43% Rights Offer Discount
Jan 4th 2012

Credit Agricole pumps €2bn euros into Emporiki
Jan 1st 2012

European banks: Hose and dry
Jan 1st 2012 #
5th year of banking crisis: business models tumbling (ger)











Other
Dec 14th 2011

Bernanke rules out FED helping Eurozone in a meeting with republican senators.











                                                - Countries -





The Netherlands.
Dec 11th 2011 *
According to an interview today, Sunday with Dutch finance minister De Jager rules have now to be changed in the way that:





National parliaments must provide numbers of future budgets to European commission where they will be checked. And if they are over the predefined limit automatic sanctions will be imposed UNLESS some 85% of EZ member votes stop those.





30 new laws on bank recap and enhanced regulation were announced.





He didn't elaborate much on the growth part of the "big summit" ...only that he referred to the Eurozone plus package.






Dec 13th 2011 *
Dutch central planning agency: Netherlands in recession now. GDP will shrink 0,5% in 2012. Budget deficit will reach 4,1%, unemployment will rise (link in dutch)











Germany
Dec 14th 2011 #
Coalition agree upon new bank rescue fund (SoFFin) without forced recap (link german)











France
Jan 01st 2012

French VAT hike to hit pizzas, quiches - not baguettes
Dec 14th 2011

Markets in expectation of downgrade by Standard & Poors. French politicians issuing statements of "would be not good but also not catastrophic". Market explanation: "lowering expectations"
Dec 15th 2011

Christian Noyer is wrong - what France lacks is credibility
Dec 17th 2011

Fitch revises outlook on France to 'negative'











Greece
Jan 19th 2012

PM seeks to rally support as troika arrives
Jan 16th 2012

Officials dispatched to US as default fears grow
Jan 16th 2012

46 Days to Avoid Greek Default
Jan 12th 2012

Euro Checkers: Guide to Greek PSI
Jan 4th 2012

Commission demands return of €435m in farm subsidies
Jan 3rd 2012 #
Credit negotiations: Greece threatens to exit eurozone (ger)
Jan 3rd 2012

EU: Greek PSI Must Be Resolved Before 2nd Bailout Program Resolved [Dow Jones] (via @djfxtrader)
Dec 31st 2011

Greeks must avert economic collapse, euro exit: leader
Dec 29th 2011

Prosecutors’ resignation spurs political storm
Dec 29th 2011

Greek bond swap deal may soon be reached: official
Dec 28th 2011

Financial prosecutors resign, claiming interference
Dec 27th 2011

New Democracy drops February election demand
Dec 27th 2011

Retail sales down 30 percent over Christmas
Dec 27th 2011

Papandreou expresses support for interim PM
Dec 27th 2011

‘I'll stay active,’ Papandreou tells critics  
Dec 15th 2011

Unemployment at record high, seen rising further











Ireland
Jan 24th 2012

Noonan presses for cut in cost of bank rescue
Dec 18th 2011

Hayes calls for debt reduction
Dec 16th 2011

Fitch puts Ireland on rating watch negative (eng)
Dec 15th 2011

Deficit target 'ambitious'











Belgium
Dec 16th 2011

Moody's cuts Belgium ratings by 2 notches
Dec 16th 2011

Fitch puts Belgium on rating watch negative (eng)
Dec 17th 2011 *
Bel. FinMin after downgrade:"We must more then ever stick to our goals" (dutch link)











Italy
Jan 20th 2012

Govt approves liberalisation package
Jan 10th 2012

Fitch sees significant chance of Italy downgrade
Jan 9th 2012

Italy banks increased sharply their use of ECB loans to over €200bn last month, accounting for almost a quarter of total liquidity supplied (via @ChrisAdamsMKTS)
Dec 31st 2011

Italian president urges sacrifices to save economy
Dec 27th 2011

Italy Retailers in Worst Christmas in 10 Years
Dec 22nd 2011

Factbox: 'Save Italy' package
Dec 17th 2011

Monti Wins Approval for Italian Austerity Plan in Lower House
Dec 16th 2011

Fitch puts Italy on rating watch negative (eng)











Spain
Jan 4th 2012

***Spain has no plans to seek EU and IMF loans for bank overhaul, according to the Deputy Communication Minister*** (via @FGoria)
Jan 2nd 2012

deficit could surpass 8% (ger)
Dec 31st 2011

Spain sets out plans to cut deficit
Dec 22nd 2011

Spain names ex-Lehman executive as economy minister
Dec 19th 2011

Spain's Incoming President Announces His Plans To Stabilize Spain
Dec 18th 2011

Spain PM to outline tough reforms
Dec 16th 2011

Fitch puts Spain on rating watch negative (eng)











Austria
Jan 1st 2012

Spindelegger wants stop of new employment in public sector (ger)











Slovenia
Dec 16th 2011

Fitch puts Slovenia on rating watch negative (eng)











Cyprus 
Dec 16th 2011

Fitch puts Cyprus on rating watch negative  (eng)











Portugal
Jan 24th 2012

Fears Mount That Portugal Will Need a Second Bailout
Jan 20th 2012

Has Portugal's debt default clock begun to tick?
Jan 19th 2012

Portugal to need "debt haircut" as economy tips into Grecian downward spiral
Jan 9th 2012

ECB lending to Portugal rises
Dec 20th 2011

Portuguese finance minister Gaspar: budget deficit will be about 4% this year. If this is met, would be on course to meet 2012 4.5% target. (via @lindayueh)











(UK)
Dec 4th 2011

Growth in UK construction accelerates
Dec 17th 2011

Financial services in Britain: The blitz spirit











* = Dutch, # = German language