Putin faces the music

By Mike Peacock
December 18, 2014

Russian President Vladimir Putin attends a meeting at the Kremlin in Moscow

With a deep recession looming and the nose-diving rouble poised to push inflation through the roof, Russia’s Vladimir Putin faces the music at his end-of-year news conference when he will field questions from a studio audience as well as television viewers.

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.

Incremental French reform steps

By Mike Peacock
December 12, 2014

French Prime Minister Valls and Economy Minister Macron leave a press conference to present the "Law on Growth and Activity" plans at the Elysee Palace in Paris

French Prime Minister Manuel Valls meets ministers to discuss the next leg of the government’s reform agenda. Documents will be published afterwards.

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.

Eyes on Weidmann for Draghi pushback

By Mike Peacock
December 5, 2014

Deutsche Bundesbank President Weidmann arrives for the annual news conference in Frankfurt

Bundesbank chief Jens Weidmann, German Finance Minister Wolfgang Schaeuble and his Italian counterpart, Pier Carlo Padoan, all speak at a conference in Frankfurt today.

Governments teetering

By Mike Peacock
December 3, 2014

Sweden's PM Lofven speaks at a news conference in Stockholm

Sweden’s centre-left administration is on the brink just two months into office after a far-right party announced it would side with the centre-right opposition to vote against the 2015 budget. The anti-immigration Sweden Democrats, who are shunned by all other parties in the Riksdag, holds the balance of power.

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

renzi.jpg

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.