One small step…

By Mike Peacock
June 27, 2013

EU finance ministers succeeded last night where they failed last Friday and reached agreement on how to share the costs of future bank failures, with shareholders, bondholders and depositors holding more than 100,000 euros all in the firing line in a bid to keep taxpayers off the hook.

Back to banking union

By Mike Peacock
June 19, 2013

The G8 produced little heat or light on the state of the world economy but if there was one clarion call it was for the euro zone to get on with forming a banking union – the last major initiative needed to draw a line under the euro zone debt crisis.

Mystery of the missing Fed regulator

June 5, 2013

It’s one of those touchy subjects that Federal Reserve officials don’t really want to talk about, thank you very much.

from Global Investing:

Show us the (Japanese) money

April 30, 2013

Where is the Japanese money? Mostly it has been heading back to home shores as we wrote here yesterday.

Cyprus Plan B – phoenix or dodo?

By Mike Peacock
March 21, 2013

They’ve only been looking for it for a day but Cyprus’s Plan B has already taken on mythical status. A myth it might remain.

Euro zone triptych

By Mike Peacock
February 22, 2013

Three big events today which will tell us a lot about the euro zone and its struggle to pull out of economic malaise despite the European Central Bank having removed break-up risk from the table.

Super, or not so super, Thursday

By Mike Peacock
February 7, 2013

For those who thought the euro zone had lost the power to liven things up, today should make you think again.

Market/economy disconnect?

By Mike Peacock
January 30, 2013

Italy comes to the market with a five- and 10-year bond auction today and, continuing the early year theme, yields are expected to fall with demand healthy. It could raise up to 6.5 billion euros. A sale of six-month paper on Tuesday was snapped up at a yield of just 0.73 percent. Not only is the bond market unfazed by next month’s Italian elections, which could yet produce a chaotic aftermath, neither is it bothered by the scandal enveloping the world’s oldest bank, Monte dei Paschi, which is deepening by the day.

Irish setback

By Mike Peacock
January 28, 2013

We’ve been saying for some time that while the immediate heat may be off the euro zone, therein lies a danger – that policymakers will relax their efforts to remould the bloc into a tougher structure that can withstand future crises, and possibly even allow this crisis to flare back into life.

Europe and the danger of soft-pedalling

By Mike Peacock
January 21, 2013

No one really questions Angela Merkel’s supremacy in Germany but losing the key state of Lower Saxony in a Sunday election, albeit by the narrowest of margins, means we’ll have to put on ice proclamations that her re-election for a third term in the autumn is now merely a procession. The centre-left SPD and Greens won the state by a single seat. Merkel and others will speak about the result today. What it probably does affirm is that the Chancellor will be extremely cautious about agreeing to more euro zone crisis fighting measures before the national election is safely out of the way.