ECB in the dock

By Mike Peacock
October 14, 2014

Protestors left some barbed wire in front of the euro sign landmark outside the headquarters of the ECB before its monthly news conference in Frankfurt

The European Court of Justice holds a first hearing on the legality of the European Central Bank’s Outright Monetary Transactions programme. There won’t be anything definitive today but it serves to rekindle debate about the limits of the ECB’s powers.

Battle lines drawn

By Mike Peacock
October 13, 2014

Germany's Minister of Finance Wolfgang Schauble speaks during a discussion during the World Bank/IMF annual meetings in Washington

The predictable battle lines were drawn at the G20/IMF meetings in Washington – most of the world urged Europe to do more to foster growth while Germany warned against letting up on austerity. The argument will doubtless be reprised today when euro zone finance ministers meet in Luxembourg.

Greek confidence vote

By Mike Peacock
October 10, 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 ruling coalition will hold a confidence vote in parliament this evening in an effort to end speculation that the country may be facing snap elections early next year.

A first for British politics

By Mike Peacock
October 9, 2014

Nigel Farage, the leader of UKIP drinks a pint of beer in the Gardeners Arms pub in Heywood near Manchester

By this time tomorrow, the anti-EU United Kingdom Independence Party is likely to be celebrating its first member of the Westminster parliament. Polls have just opened in the deprived seaside town of Clacton where the sitting Conservative lawmaker switched to UKIP and called a vote.

Shocking German figures

By Mike Peacock
October 7, 2014

A new Mercedes AMG GT super sports car rim is seen during a factory tour for journalists at the Mercedes AMG headquarters in Affalterbach

After a stunning fall in German industrial orders for August – the 5.7 percent monthly drop was the largest since the global financial crisis raged in 2009 – industrial output for the same month has just plunged by 4.0 percent, also the biggest fall in five years.

Draghi tries to keep show on the road

By Mike Peacock
October 2, 2014

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The European Central Bank has one of its two offsite policy meetings of the year, in Naples. After a glut of measures last time it’s inconceivable that further action will be taken now but there is plenty to ponder.

Euro falling but no impact on inflation yet

By Mike Peacock
September 30, 2014

Lithuanian 1 euro coins are pictured in the Lithuanian Mint in Vilnius

Euro zone inflation figures are due and after Germany’s rate held steady at 0.8 percent the figure for the currency bloc as a whole could marginally exceed forecasts and hold at 0.4 percent.

After “get in the hole!”, Europe remains in a hole

By Mike Peacock
September 29, 2014

Team Europe golfers pour champagne over captain Paul McGinley as they celebrate retaining the Ryder Cup at Gleneagles

Who says Europe is broken? The Ryder Cup stays here again and even Nigel Farage, leader of Britain’s anti-EU party, said he wanted Europe’s golfers to win.

Britain back on board for action in Iraq

By Mike Peacock
September 25, 2014

An Iraqi SWAT trooper covers his ears as he fires a mortar bomb during clashes with Islamic State militants, north of Muqdadiyah

U.S. air strikes in Syria continued overnight with a monitoring group saying at least 14 Islamic State fighters were killed.

A long haul

By Mike Peacock
September 24, 2014

U.S. Navy handout shows EA-6B Prowler attached to the Garudas of Electronic Attack Squadron 134 landing aboard the aircraft carrier USS George H.W. Bush after conducting strike missions against Islamic State targets, in the Gulf

Having largely sailed through this year’s choppy (to say the least) geopolitical waters, markets are a little discomfited by U.S. air strikes in Syria targeting Islamic State militants … though only a little.