The “take it or leave” it moment?

By Mike Peacock
June 2, 2015

German Chancellor Merkel, French President Hollande and European Commission President Juncker arrive to make statements to the media before a meeting with top company executives in Berlin

Five people who hold Greece’s fate in their hands – Angela Merkel, Francois Hollande, Mario Draghi, Jean-Claude Juncker and Christine Lagarde – met for talks in Berlin last night.

Greek claim and counter-claim

By Mike Peacock
May 28, 2015

German Chancellor Merkel and Greek Prime Minister Tsipras leave after addressing news conference in Berlin

Another day of claim and counter-claim.

The Greek government said a deal with its lenders had reached the drafting stage and would not require wages and pensions cuts or reforms to the VAT regime. It didn’t take long for euro zone officials to retort that this simply was not the case and that the two sides remained far apart.

Huge gaps to bridge in Greek negotiations

By Mike Peacock
April 17, 2015

Greek Finance Minister Varoufakis speaks at the Brookings Institution in Washington

Prime Minister Alexis Tsipras told Reuters on Thursday he was “firmly optimistic” of reaching an agreement with Greece’s creditors. But he acknowledged that the two sides disagreed on four major issues: labour rules, pension reform, a hike in value-added taxes and privatisations.

Volatility back with a bang

By Mike Peacock
January 16, 2015

The logo of the SNB is seen at the entrance of the SNB in Bern

Volatility is back with a bang.

The Swiss franc leapt by an unprecedented 40 percent at one point after the Swiss National Bank scrapped its currency cap out of the blue. Oil may have bounced but it’s still down the thick end of 60 percent since mid-2014, dragging the rouble and other oil-producer currencies with it. Copper, generally a barometer of world industrial demand, is barely finding its feet after plunging this week.

Evening of reckoning

By Mike Peacock
May 27, 2014

EU heads of government and state dine in Brussels this evening to discuss their response to a big slap in the face from the bloc’s electorates.

Money for Ukraine?

By Mike Peacock
February 26, 2014

Russia’s next move remains the great unanswered question for Ukraine but there are glimmers that things might be starting to move elsewhere.

ECB deflation risk denial has echoes of 2009

January 31, 2014

Euro zone policymakers like to talk. They often contradict each other at separate speaking engagements on the same day. But they have struck a chorus in recent weeks, asserting that deflation is not a threat.

Davos Day Two — Rouhani, Lew and Lagarde

By Mike Peacock
January 23, 2014

Day one in Davos showed the masters of the universe fretting about Sino-Japanese military tensions, the treacherous investment territory in some emerging markets and the risk of a lurch to the right in Europe at May’s parliamentary elections which could make reform of the bloc even harder.

Data to shape ECB week

By Mike Peacock
January 6, 2014

Euro zone service sector PMIs and German inflation (with the euro zone number to follow on Tuesday) will lay the ground for the European Central Bank’s first policy meeting of the year.

Just a typical euro zone day

By Mike Peacock
July 16, 2013

Spain will sell up to four billion euros of six- and 12-month treasury bills, prior to a full bond auction on Thursday. Italy attracted only anaemic demand at auction last week and Madrid has already had to pay more to borrow since the Federal Reserve shook up the markets with its blueprint for an exit from QE.