Global Economics Correpondent
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Mar 26, 2013

Gloom enveloping Portugal as austerity drags on

LISBON (Reuters) – Austerity is grinding Portugal down. The economy is adjusting to past excesses and flourishing firms are not hard to find. But the overall picture, mirrored across southern Europe, is of a people losing confidence in the future.

With domestic demand depressed by deep public spending cuts and a slump in investment, the risk is that improving exports alone will not be enough to restore growth. That would trap the government in a vicious circle, forever needing fresh cuts to meet its deficit and debt targets.

Mar 25, 2013

Analysis: Cyprus rescue raises new questions about euro’s long-term survival

LONDON (Reuters) – The messy deal to bail out Cyprus has averted the latest threat to the break-up of the euro but at the cost of raising new questions about the single currency’s long-term viability.

Savers in other euro zone banks appear so far to be taking the freezing of balances over 100,000 euros in Cyprus’s two biggest lenders in their stride. Perhaps they judge that events in a tiny, far-away island with outsize banks and a reliance on deposits from Russian oligarchs hold little relevance for them.

Mar 25, 2013

Cyprus rescue raises new questions about euro’s long-term survival

LONDON, March 25 (Reuters) – The messy deal to bail out
Cyprus has averted the latest threat to the break-up of the euro
but at the cost of raising new questions about the single
currency’s long-term viability.

Savers in other euro zone banks appear so far to be taking
the freezing of balances over 100,000 euros in Cyprus’s two
biggest lenders in their stride. Perhaps they judge that events
in a tiny, far-away island with outsize banks and a reliance on
deposits from Russian oligarchs hold little relevance for them.

Mar 24, 2013

As euro zone suffers, emerging markets thrive

LISBON, March 24 (Reuters) – No matter how Cyprus’s
financial drama ends, its troubles show yet again that rich
countries enfeebled by the great financial crisis remain a weak
link in the world economy.

By comparison, emerging markets are not only looking
stronger but are also contributing more consistently to global
growth.

Mar 17, 2013

Super Wednesday for world’s central banks

LONDON, March 17 (Reuters) – The Bank of Japan welcomes a
new anti-deflation governor this week, the Bank of England might
get a new pro-growth mandate and the Federal Reserve is likely
to stick like glue to its aggressive bond-buying programme.

Together, the three events speak volumes about the balance
of risks in a global economy that is on the mend but still a
long way from rude health.

Mar 13, 2013

Euro zone hopes Latvia is no Cyprus on the Baltic

RIGA, March 13 (Reuters) – They have little else in common,
but the Baltic state of Latvia and the Mediterranean island of
Cyprus are both magnets for Russian money, making them a focus
for European officials concerned about murky banking and
financial instability.

Cyprus needs a loan of at least 10 billion euros, mainly to
recapitalise its banks, which have been crippled by exposure to
crisis-stricken Greece.

Mar 12, 2013

Analysis: Resilient Latvia ready for euro but reforms needed

RIGA (Reuters) – If Latvia gets the green light to become the 18th country to use the euro, the small Baltic state will be the poorest member of the single-currency area, with the highest inequality and a dismal demographic profile.

But Latvia is also the fastest-growing European Union state and its eagerness to join will be welcomed in euro zone capitals as a vote of confidence in a bloc suffering many agonies.

Mar 10, 2013

Global economy: Shafts of sunshine try to pierce thick clouds

LONDON (Reuters) – Global economic news is improving here and there, but a batch of data due this week is unlikely to shake financial markets’ conviction that major central banks are not about to take away the punch bowl.

If anything, even more monetary easing could be in the pipeline.

A minority of policymakers at the Bank of England wants to expand its bond buying. The nominee to head the Bank of Japan is promising profound change to root out deflation.

Mar 10, 2013

Shafts of sunshine try to pierce thick clouds

LONDON, March 10 (Reuters) – Global economic news is
improving here and there, but a batch of data due this week is
unlikely to shake financial markets’ conviction that major
central banks are not about to take away the punch bowl.

If anything, even more monetary easing could be in the
pipeline.

A minority of policymakers at the Bank of England wants to
expand its bond buying. The nominee to head the Bank of Japan is
promising profound change to root out deflation.

Mar 3, 2013

Global economy – A study in contrasts between China and Europe

LONDON (Reuters) – As central banks in the euro zone and Britain edge closer this week to deciding that their flagging economies need yet more monetary stimulus, they can be forgiven for casting an envious eye towards China.

The same goes for the United States. Because of deadlock in budget talks, mandatory federal spending cuts are now being phased. They will brake a recovery that, as Friday’s jobs report is likely to show, is already frustratingly weak.

    • About Alan

      "I'm the Global Economics Correspondent for Reuters News based in London. I've reported from more than 40 countries over 30 years and have had postings in Frankfurt, New York, Washington, Paris, London, Tokyo, Singapore and Beijing. From the Plaza Accord to the creation of the euro and the rise of China, I'm lucky to have covered many of the big economic stories of recent years."
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