Inflation vanishes

By Mike Peacock
January 5, 2015

Draghi, President of the European Central Bank (ECB) waits for the start of the European Banking Congress in the Old Opera house in Frankfurt

German inflation figures for December will presage the euro zone number on Wednesday, together offering one of the final pieces of the jigsaw for the European Central Bank before its late January policy meeting at which it could commence a quantitative easing government bond-buying programme.

Russia’s plight

By Mike Peacock
December 22, 2014

Russia's President Putin chairs a meeting of the Security Council at the Russian defense control center in Moscow

Trying to predict the rouble’s path is a fool’s charter but it’s fairly safe to say it won’t return to a level that will take pressure off the Russian economy. It has opened 2 percent higher versus the dollar in Moscow this morning, mirroring a rise in oil from $60 a barrel.

ECB numbers game

By Mike Peacock
December 11, 2014

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European Central Bank President Mario Draghi pushed the envelope as far as he could last week, saying a review early next year would decide whether money-printing to buy government bonds was needed. He said he didn’t need unanimity within the ECB to force it through.

Greek gamble

By Mike Peacock
December 9, 2014

Greek Prime Minister Antonis Samaras smiles during a news conference with Egypt's President Abdel Fattah al-Sisi and Cyprus' President Nicos Anastasiades after their summit at the presidential palace in Cairo

The Greek government has taken a huge gamble, bringing forward by two months to next a week a parliamentary vote on a new president. Two further rounds of voting will be held before the year-end.

Merkel raps Italy, France over budgets

By Mike Peacock
December 8, 2014

France's President Hollande talks with Italy's Prime Minister Renzi during the Asia-Europe Meeting (ASEM) in Milan

Euro zone finance ministers meet in Brussels to discuss member states’ 2015 budget plans. We know the European Commission thinks France, Italy and Belgium are breaking EU deficit rules but will defer decisions on any action until March. At that point, France could face a multi-billion euro fine and Italy and Belgium be put on a disciplinary programme.

To spend or save?

By Mike Peacock
December 2, 2014

French Economy Minister Macron and Germany's Economy Minister Gabriel arrive to attend a news conference to present the Franco-German report on economic reforms and investment in Paris

Germany’s finance and economy ministers and central bank chiefs meet in Berlin with plenty to discuss.

Italy’s budget progresses as Brussels watches

By Mike Peacock
December 1, 2014

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Italy’s lower house approved Prime Minister Matteo Renzi’s tax-cutting 2015 budget on Sunday. It will now move on to the Senate, where it must be passed by the end of the year. The budget is at the centre of a tussle with the European Commission, which says it does not do enough to reduce the country’s huge public debt.

Cameron’s immigration conundrum

By Mike Peacock
November 28, 2014

David Cameron’s long-awaited speech on immigration – which has been billed as his blueprint to win back disaffected Conservatives and others now voting for anti-EU UKIP – will be delivered today.

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.

Can Draghi do more?

By Mike Peacock
November 6, 2014

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It’s ECB day. While the Federal Reserve has called time on its bond-buying and the Bank of Japan decided to create money at a more furious rate, the euro zone central bank will plot the middle course – waiting to gauge the impact of its recent efforts to pump more money into the currency bloc’s economy before entertaining further action.