Europe Economics Update German election campaign offers no hope of fiscal boost The growing likelihood of a grand coalition government after September’s election suggests that Germany’s tough stance on the euro-zone periphery might soften somewhat. However, none of the main... 9th May 2013 · 1 min read
Europe Economics Update Norges Bank will be forced into a cut by end-2013 The Norges Bank left interest rates unchanged today as concerns about rising household debt once again outweighed the need to weaken the currency and boost inflation. But our expectation for the euro... 8th May 2013 · 1 min read
Europe Economics Update Can the ECB make negative rates work? The ECB appears to have concluded that it can limit the adverse side-effects of imposing negative interest rates on commercial banks’ deposits. But even if this is the case, negative rates are not... 8th May 2013 · 1 min read
Nordic & Swiss Economics Update Norges Bank will be forced into a cut by end-2013 The Norges Bank left interest rates unchanged today as concerns about rising household debt once again outweighed the need to weaken the currency and boost inflation. But our expectation for the euro... 8th May 2013 · 1 min read
Europe Economics Update Is it true that Germany can’t afford bail-outs? A recent ECB survey suggested that German households are much less wealthy than those in the eurozone’s south and periphery. There are several reasons why this is untrue. But unfavourable coverage in... 7th May 2013 · 1 min read
Europe Economics Update ECB rate cut will be of limited use The ECB’s widely anticipated interest rate cut should provide troubled banks in the region’s periphery with some much-needed support. But it will not be enough to drag the euro-zone out of recession... 2nd May 2013 · 1 min read
Europe Economics Update Falling oil prices highlight Norway’s long-term problems Due to Norway’s much-lauded fiscal rules, the recent fall in oil prices will have little impact on the economy’s bright near-term outlook. Nonetheless, Norway’s growing dependence on hydrocarbons... 2nd May 2013 · 1 min read
Nordic & Swiss Economics Update Falling oil prices highlight Norway’s long-term problems Due to Norway’s much-lauded fiscal rules, the recent fall in oil prices will have little impact on the economy’s bright near-term outlook. Nonetheless, Norway’s growing dependence on hydrocarbons... 2nd May 2013 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Apr.) In 2012, most of the peripheral economies made decent inroads into their budget deficits. But the fiscal consolidation process is far from over. 30th April 2013 · 1 min read
Europe Economics Update Italy: New government, same challenges The formation of a grand coalition government in Italy is clearly a step forward, but we doubt that this marks a period of lasting political stability. In addition, despite calls from Prime Minister... 29th April 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Mar. 13) The latest euro-zone monetary data showed little sign of an improvement in financial market conditions or a pick-up in provision of credit to the private sector. 26th April 2013 · 1 min read
Europe Economics Update Deleveraging in Denmark: what lessons for other Nordics? Household spending in Denmark has barely recovered since its housing bubble burst in 2007 and there appears little respite ahead for households. With rising debt now fuelling housing booms in Sweden... 25th April 2013 · 1 min read
Nordic & Swiss Economics Update Deleveraging in Denmark: what lessons for other Nordics? Household spending in Denmark has barely recovered since its housing bubble burst in 2007 and there appears little respite ahead for households. With rising debt now fuelling housing booms in Sweden... 25th April 2013 · 1 min read
Europe Economics Update Italy’s problems are far from over The re-election of President Napolitano suggests that Italy could soon have a new government in place. But an end to the political deadlock will not resolve Italy’s deep economic problems. 22nd April 2013 · 1 min read
Europe Economics Update Fiscal figures cast further doubt on austerity policies The news that the euro-zone budget deficit shrank again last year will be hailed as evidence by some that austerity is working. But the fact that most economies’ deficits have fallen by less than... 22nd April 2013 · 1 min read
Europe Economics Update Belgium: not necessarily the core's weakest link? We have previously warned that Belgium shares several characteristics with peripheral economies, such as high public debt, banking problems and falling competitiveness. But the economy also enjoys... 18th April 2013 · 1 min read
