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Euro Zone

Latvia adopts euro – Let’s revisit eurozone divergence and convergence

January 6, 2014 6:03 am GMT+0  in Euro Zone, Historical and Research

Latvia became the 18th country to enter the euro-zone and that brings  one more country with negative inflation under the umbrella of the single currency i.e. the euro. On the other hand this new addition takes the leadership position as far as the real GDP growth is considered. With the expected GDP growth of 4%,Read the Rest…

11 EU Countries Embrace the ‘Tobin Tax’

January 23, 2013 7:00 am GMT+0  in Euro Zone

Not surprisingly, the crisis in the Euro zone led to renewed calls for the imposition of a financial transaction tax, principally to pay for bailing out shaky banks, reducing risky bets and provide budgetary support to cash-strapped Euro zone governments. Derivatives also magnified the fallout of the financial crisis, and therefore could be reined inRead the Rest…

ZEW Indicator of Economic Sentiment in Germany – January 2013

January 23, 2013 1:07 am GMT+0  in Euro Zone

The Centre for European Economic Research (ZEW) announced that its ZEW Indicator of Economic Sentiment for Germany increased by 24.6 points in January 2013. This monthly indicator is determined from a survey in which about 350 financial experts participate. The indicator is derived by computing the difference between the share of analysts that are ‘optimistic’Read the Rest…

Germany – An Optimistic Economic Picture Amidst Weak Macroeconomic Trends

January 17, 2013 4:08 am GMT+0  in Euro Zone

The 2013 outlook presented by the Federal Ministry of Economics and Technology of Germany painted an optimistic picture amidst weak data. “We have every reason to be optimistic: Germany will continue to lead the way for the economy and the labor market in Europe in 2013. We expect that the weak period this winter willRead the Rest…

Germany’s Move to Repatriate its Gold Reserves

January 16, 2013 12:55 pm GMT+0  in Euro Zone

German newspapers’ prediction that a move is afoot by the Bundesbank to repatriate at least some of its gold reserves held with the New York Fed and the Bank of France, has come true. The Bundesbank announced today a “new storage plan” that seeks to store half of its gold reserves in its own vaultsRead the Rest…

German GDP Growth – 2012

January 15, 2013 10:09 am GMT+0  in Euro Zone

Germany’s GDP growth during 2012 came in at 0.7%, marginally missing expectations of 0.8% growth. This was much worse than the 3% growth witnessed during 2011 and 4.2% reported during 2010. The reading puts a cloud on the GDP growth forecast for 2013, and adds meaning to the Bundesbank’s prognosis that GDP will grow byRead the Rest…

Unemployment in the Eurozone

January 9, 2013 11:05 am GMT+0  in Euro Zone

Figures released yesterday for November from Italy reveal that over 37% of young Italians (15-24 years) are unemployed. This is a powder keg-in-waiting for whoever succeeds Prime Minister Mario Monti. When viewed in the context of the overall unemployment rate of 11.1%, the difference appears even starker. Bleak economic conditions in Italy, possibly due toRead the Rest…

Austerity Measures And Strikes And Unrest in Europe

November 14, 2012 11:38 pm GMT+0  in Euro Zone

The second general strike of the year was called in Spain, demonstrations, partial strikes across Portugal, Italy and Greece and the unions of workers across Europe falling in line for bigger coordinated protests. Effects Of The Second General Strike It was estimated that the number of auto workers working in the night shift who joinedRead the Rest…

Greece Gets 2 More Years – Clouds Of Questions Against The Ray Of Hopes

November 14, 2012 4:10 am GMT+0  in Euro Zone

Another compromise reached in Brussels when European finance ministers met to discuss the ongoing Greece rescue issue. Options have been only two! To risk the Greece to default or compromise on the rescue terms? The latest compromise has been to grant Greece 2 more years i.e. up to 2016 for bringing down the budget deficit toRead the Rest…

Today’s Economic Releases (Europe is at the Central Stage)

October 1, 2012 12:54 pm GMT+0  in Euro Zone

PMI (Purchasing Managers Index) reports from both Germany and Euro zone came positive today. September’s  Markit Manufacturing PMI from Germany was 47.4 against the previous 44.7, while the consensus were for 47.3. Euro zone’s Markit PMI for manufacturing for September was 46.1 against the previous 45.1 and the consensus of 46.0. UK lagged behind a bit withRead the Rest…