The only way is down?

By Mike Peacock
December 17, 2014

A man walks out of a building past a board showing currency exchange rates in Moscow

No further dramatic interventions by the Russian authorities overnight with the result that the rouble has opened five percent weaker against the dollar in Moscow.

Russian currency crisis

By Mike Peacock
December 16, 2014

Russia's Central Bank Governor Nabiullina applauds during the VTB Capital "Russia Calling!" Investment Forum in Moscow

After the central bank dramatically raised interest rates by 6.5 percentage points to 17 percent overnight, Russia has given up any pretence that it is not in the grip of a currency crisis.

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.

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.

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.

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.

Draghi back in the dock

By Mike Peacock
November 17, 2014

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European Central Bank President Mario Draghi faces lengthy interrogation at the European Parliament today.

UK election – a race to the bottom?

By Mike Peacock
November 13, 2014

Britain's opposition Labour Party leader Miliband speaks at the CBI annual conference in London

The theme of both Britain’s main political parties behaving like they want to lose next May’s election continues.