Will US resilience endure?
Of the developed economies, the USA did not fare too badly during 2011. The Wall Street 30 Index (Fig. 2.24(a)) started 2011 at around 11,600 and ended the year at just over 12,200. Although the S&P…
Macroeconomics
More Quantitative Easing in the UK
With fears of another recession in the UK still very much a reality, it comes as no surprise that the Bank of England is doing all it can to stimulate the sluggish economy. Unfortunately it only…
Potential Outcomes of a Greek Default
What are the Chances? The chances of a Greek default are today undoubtedly higher they were a year ago. The Greek government does not seem to take budget cuts all that seriously, in fact the Country’s…
The Role of the ECB in the Euro Zone Crisis
The European Central Bank (ECB) is an institution of the EU. It has a number of purposes, among which are to: • Ensure price stability by keeping inflation in check, particularly in countries that have adopted…
Two Speed Europe – Possible Outcomes and Implications
The French President, Nicolas Sarkozy, caused quite a stir on 8th November, after he called for a two-speed Europe. This would consist of a ‘federal’ core of the 17 countries using the Euro as their currency…
Euro Macroeconomics Post Bailout
When you watch the news headlines proclaiming yet another debt crisis in yet another European country, you inevitably wonder how this will affect Europe in the long run. Will the EU ever return to its former…
Potential Impact of BOE Asset Purchase Plan on Sterling
Normally, when a central bank wants to influence a country’s interest rates and/or the value of its currency, it uses monetary policy to do so. Lowering the interest rate is a very popular way for central…
Currency Wars
A little more than a year ago, in September 2010, Guido Mantega – the Brazilian Finance Minister – made headlines when he warned against the dangers of a global currency war. Nine months later, in July…
Greek Default and its Effects on EU and Global Markets
If you switched on your television this morning, you would no doubt have seen scenes of ordinary Greek citizens protesting in the streets against the austerity measure imposed on them as a result of the Greek…
Europe Debt Crisis Explained. Who Owes Who What And Who Will Be Hurt Most From Spain or Italy Defaulting
If you woke up in a good mood this morning, it would only have lasted until you switched on your television and heard that two major French banks, Societe Generale and Credit Agricole, have been downgraded…
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