minister

  • 27 Mar @ 10:55

    Or: ‘Do as I say, not as I do’. Just six months ago, Dutch Prime Minister Rutte and Finance Minister de Jager were espousing the necessity for exclusion from the eurozone of those sovereigns who flouted Europe’s fiscal rules . In addition, both argued that those that systematically infringe should face tougher sanctions and the…

  • 24 Feb @ 15:10

    Over the course of today the euro has built upon the new highs vs. the USD made yesterday, although this has more to do with action on other majors such as sterling and the Scandis. If we were to look for positives, it’s that with the legislation passed yesterday, the Greek debt swap should start…

  • 22 Feb @ 16:24

    Last night’s resignation by Foreign Minister (and ex-Prime Minister) Kevin Rudd has further inflamed political tensions within his Labour Party over who should lead it into the next election. After weeks of intense speculation surrounding her leadership, current Prime Minister Julia Gillard expressed her disappointment at Rudd’s decision, which the latter claimed had resulted from…

  • 20 Feb @ 17:49

    It has been quite a remarkable morning for the single currency, which is up 1% at 1.3250. Contributing to this latest spike is the dollar’s weakness across the board as it loses favour during this spurt of risk appetite. Other high-beta currencies such as the AUD, Kiwi and the NOK are also around 1% higher…

  • 07 Feb @ 18:31

    In extremely difficult circumstances, the government of Prime Minister Pedro Passos Coelho deserves fulsome praise for the gusto it has displayed in attempting to rectify the gaping hole in Portugal’s national balance sheet. With an electoral mandate based on austerity, he has implemented measures that are expected to reduce the budget deficit to around 4.5%…

  • 31 Jan @ 12:58

    Greece dominated discussion at yesterday’s EU Summit but not far behind was Portugal which is also staring into the void. The yield on Portuguese 10yr bonds soared to 17.4% on Monday, up 400bp this year alone, with the two-year yield reaching 21.5%! Compounding Portugal’s difficulties over recent weeks was S&P’s recent decision to downgrade the…

  • 31 Jan @ 12:54

    In contrast to many of the 16 EU Summits held over the past two years since the Greek debt crisis first erupted, yesterday’s was a particularly productive one. Firstly, twenty-five of the EU’s 27 member countries signed up to Angela Merkel’s fiscal compact, designed to implement tougher budgetary discipline in Europe. All signatories to the…

  • 27 Jan @ 17:15

    Italy finally has a Prime Minister who is prepared to implement structural reform in a country that has been blighted with inefficiency and bureaucratic sclerosis for decades. Mario Monti’s cabinet is about to pass a law which will cut through many of the administrative burdens weighing on the private sector in the hope of boosting…

  • 24 Jan @ 16:16

    Spain is in a very knotty financial situation currently, one that will take a desperately long time to rectify. Not helping its predicament are signs that the economy is back in recession. According to the Bank of Spain, growth will contract by 1.5% this year. For those ministers responsible for putting Spain back onto a…

  • 08 Jan @ 15:10

    British Prime Minister David Cameron said Sunday that France has the right to introduce a tax on financial transactions but warned that he would block the introduction of a Tobin tax in Europe if it is not introduced to the rest of the world. “If the French want to move towards a transaction tax in…

  • 11 Aug @ 21:49

    Japanese Prime Minister, Naoto Kan, will soon step down, said the country’s press yesterday. Under intense pressure, both from the conservative opposition and his own camp, he had promised several weeks ago, to yield his position after three bills were passed by the Parliament. They will be voted on before the end of August.