Greek plan – a detailed programme or vague list of ideas?

By Mike Peacock
March 30, 2015

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

The Greek government has sent a reform package to its EU and International Monetary Fund creditors, hoping it will unlock desperately needed funds to stave off bankruptcy.

Waiting for the Greek list

By Mike Peacock
March 25, 2015

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

The Greek government could produce at any time a list of economic reforms which it hopes will prompt a flood of funds from its creditors.

Tsipras seeking mercy from Merkel

By Mike Peacock
March 23, 2015

Greece's PM Tsipras, EU Parliament President Schulz and Germany's Chancellor Merkel attend a EU leaders summit in Brussels

Greek Prime Minister Alexis Tsipras meets Angela Merkel in Berlin late today.

The strategy in Athens seems to be to seek mercy from EU leaders, going over the heads of euro zone finance ministers and the European Central Bank and IMF, hoping that they will see the broad political cost of a Greek collapse rather than focus on the nitty gritty of funding and required economic reforms.
That doesn’t look like a winning strategy.

Ukraine to get serious money

By Mike Peacock
March 12, 2015

International Monetary Fund Managing Director Lagarde speaks about the situation in Ukraine at a news conference in Brussels

The International Monetary Fund surprised on the upside with its programme for Ukraine last night, agreeing $17.5 billion in loans as expected but agreeing to pump $10 billion of that into the near bankrupt country over the next year and handing over $5 billion imminently.

Euro zone data starting to surprise on the upside

By Mike Peacock
March 4, 2015

A truck passes through an electronic toll gate on the A10 highway south of Berlin

A day before the European Central Bank’s monthly meeting, service sector PMI surveys for euro zone countries will be scrutinized to see if they add to a developing trend of above-forecast economic data.

Negative inflation to herald QE launch

By Mike Peacock
March 2, 2015

US dollars and euros banknotes are seen in this illustration photo taken at a change bureau in Paris

The European Central Bank is about to start printing money. Euro zone data today will show why.

Restive Bundestag to approve Greek bailout extension

By Mike Peacock
February 27, 2015

German Chancellor Merkel, members of government and parliament observe a minute of silence during a session of the lower house of parliament Bundestag in Berlin

Germany’s parliament will vote today on the extension of Greece’s bailout by four months and will duly back it though we can expect some grumbling from a clutch of lawmakers.

Whisper it, is the euro zone perking up?

By Mike Peacock
February 26, 2015

People walk into the the Mall of Berlin shopping centre in Berlin

The drama of Ukraine and Greece has left old-fashioned economic data in the shade so far this year but, quietly, there are some signs of improvement for the moribund euro zone economy.

The Greek plan is in, breath bated

By Mike Peacock
February 24, 2015

Varoufakis arrives at a news conference after an extraordinary euro zone Finance Ministers meeting in Brussels

Greece sent an economic reform plan to its EU and IMF creditors overnight, according to an EU source, and euro zone finance ministers will this morning see the list which is a condition for extending the country’s bailout programme by four months.

Rampant inflation to keep Russian central bank tight

By Mike Peacock
January 30, 2015

Russian roubles are seen in this illustration picture taken in Moscow

Russia’s central bank meets having shoved interest rates up to an eye-watering 17 percent late last year.
The central bank has said rates can only come down if inflation was trending lower. It was running above 11 percent last month and the government expects it to peak at 17 percent.