EU investment plan; game changer or empty vessel?

By Mike Peacock
November 26, 2014

European Central Bank President Draghi and Eurogroup President -Juncker talk during a news conference in Nicosia, Cyprus

New European Commission President Jean-Claude Juncker will unveil his investment plan for the bloc to the European Parliament today which aims to generate 315 billion euros of investment and lift growth onto a higher plane. The details were put out last night and there’s no new money in it. Instead, 21 billion euros of funding is expected to leverage private investment of a whopping 15 times that amount.

Housing markets in U.S., UK, Canada set to cool even if rates stay low for longer

November 25, 2014

AEven as the expected date for an eventual interest rate rise in the U.S., Britain and Canada keeps getting pushed further into the future, the outlook for residential housing markets in these countries is also starting to cool.

Greek bailout pressure rising

By Mike Peacock
November 25, 2014

A Greek and an EU flag flutter in front of the temple of the Parthenon during the takeover ceremony of the six-month rotation of Greece's EU Presidency in Athens

Greece’s government will resume stalled talks with EU/IMF lenders in Paris today as Athens pushes to make an early exit from an unpopular bailout programme.

Euro zone private loan data still looking more like groan data

November 24, 2014

It’s been more than two years since euro zone banks increased net lending to private businesses. And it’s been nearly half a year since the European Central Bank launched a new plan to turn that situation around.

Iran talks stumble on

By Mike Peacock
November 24, 2014

U.S. Secretary of State Kerry and Iranian FM Zarif before their meeting in Vienna

Officials say it will not be possible to reach a comprehensive deal between Iran and six world powers aimed at resolving the stand-off over Tehran’s nuclear ambitions by today’s deadline.

from Anatole Kaletsky:

Why Britain’s days as a haven of political, economic stability are numbered

By Anatole Kaletsky
November 21, 2014

Flares are let off as police stand guard while pro-union protestors clash with pro-independence protestors during a demonstration at George Square in Glasgow

For the past five years, Britain has been a haven of political and economic stability amid the turbulence in Europe. No longer.

Teachers, leisure workers the biggest losers from UK’s wage woes

November 21, 2014

wages

Teaching staff and leisure workers have taken the biggest hit to their take home pay in real terms over the last three years, according to the latest edition of Britain’s most comprehensive survey of the labour market.

UK politics thrown up in the air

By Mike Peacock
November 21, 2014

Nigel Farage, leader of UKIP, cheers as it is announced that UKIP candidate Mark Reckless won the by-election at Medway Park in Gillingham

As predicted, Britain’s surging anti-EU party UKIP snatched a second parliamentary seat from the ruling Conservatives overnight.

UKIP looking for next advance

By Mike Peacock
November 20, 2014

United Kingdom Independence Party leader Nigel Farage reacts duing a photocall outside the party campaign office in Rochester southeast England

Never heard of Rochester and Strood? You might have by tomorrow. The southern England constituency votes today following the defection of its Conservative parliamentarian to anti-EU UKIP.

EU uneasy about Hungary’s closeness to Russia

By Mike Peacock
November 19, 2014

Hungary's PM Orban arrives at an EU leaders summit in Brussels

After Germany’s foreign minister saw “no reason for optimism” after talks in Moscow on Tuesday, today Hungary’s Peter Szijjarto meets Russian Foreign Minister Sergei Lavrov. Violence is on the rise again in eastern Ukraine and tougher sanctions against Russia remain a live possibility although EU foreign ministers limited themselves to targeting a few more Ukrainian separatists earlier this week.