Neil's Feed
Oct 16, 2015
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Piraeus debt swap makes most sense for Greek bulls

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Piraeus’ new debt swap makes most sense for Hellenic bulls. The Greek bank’s debt-for-equity deal, offered to investors on Oct. 15, is a tasty prospect for those that reckon Greece is out of the woods. But those who take a more bearish stance should give it a miss.

Oct 15, 2015
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Euro zone rediscovers sloppy fiscal policy

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The euro zone is rediscovering sloppy fiscal policy. Politics has taken precedence over prudence.

Oct 14, 2015
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Renzi shrinks Italy’s political risk premium

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Italy’s political risk premium is shrinking. Prime Minister Matteo Renzi achieved an important step in his plan to reform Italy’s upper house on Oct. 13. That should mean more stable governments. Italy’s bond yields are already close to pre-crisis levels. Narrowing the discount to France or Germany will require further economic reform.

Oct 1, 2015
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Garrett-Cox demotion could herald Alliance breakup

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Katherine Garrett-Cox’s demotion could herald a breakup of Alliance Trust. The struggling investment firm’s chief executive is stepping down to lead its asset management division, Alliance Trust Investments (ATI). There, she will have to meet performance targets, or ATI will lose its mandate. Activist Elliott Advisors wanted more, but her probation is still a coup.

Sep 3, 2015
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Russia has levers to cope with oil squeeze

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Russia’s economy should be in intensive care. An oil price of around $50 a barrel is a disaster: Citigroup estimates GDP falls 0.8 percent for every $10 decline in the oil price, and the state fiscal balance previously relied on a level twice the current oil price. Add in the effect of sanctions cutting off international funds, and the recession may well drag into 2016.

Aug 26, 2015
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Monsanto leaves Syngenta facing awkward questions

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Monsanto’s abandonment of Syngenta may turn out to be the best thing for both sides. The world’s largest seed maker has given up its $46 billion pursuit of the Swiss agricultural chemical group. Syngenta’s management must now show why its reluctance to entertain the offer was well founded.

Aug 26, 2015
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Monsanto leaves Syngenta facing awkward questions

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Monsanto’s abandonment of Syngenta may turn out to be the best thing for both sides. The world’s largest seed maker has given up its $46 billion pursuit of the Swiss agricultural chemical group. Syngenta’s management must now show why its reluctance to entertain the offer was well founded.

Aug 21, 2015
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Glaxo sale comes with cheeky earnings side effect

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

GlaxoSmithKline’s smart sale of a developmental drug comes with a cheeky earnings side effect. The UK pharmaceutical firm is selling a multiple sclerosis treatment to Novartis for up to $1 billion. It’s a logical move, but revives debate over how pharma groups account for one-off deals.

Aug 11, 2015
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Greece deal leaves euro intact but fragile

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Is the euro zone unbreakable? With Greece close to getting a new bailout, it at least looks more robust than it did. The risk is less about the exit of a peripheral state, and more about the economic rifts between core members.

Aug 11, 2015
via Breakingviews

Greece deal leaves euro intact but fragile

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Is the euro zone unbreakable? With Greece close to getting a new bailout, it at least looks more robust than it did. The risk is less about the exit of a peripheral state, and more about the economic rifts between core members.

    • About Neil

      "Neil Unmack is a Reuters Breakingviews columnist based in London. He covers credit markets, hedge funds, and Italy. Previously he was a corporate finance reporter at Bloomberg News in London. He started his career as a financial journalist in 2001 at Euromoney Institutional Investor, where he covered structured finance for EuroWeek magazine. He was educated at Eton College and Oxford University, graduating with a first class degree in modern languages. Follow Neil on Twitter @unmack1"
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