Europe Economics Update Who will be the next Cyprus? Cyprus has shown that even the smallest members of the euro-zone can rock the single currency area. Slovenia is probably the next country most likely to be forced into a bailout programme, but Malta... 27th March 2013 · 1 min read
Europe Data Response Euro-zone EC Survey (Mar. 13) March’s fall in the euro-zone EC Economic Sentiment Indicator (ESI) provides a further sign that the euro-zone economy had started to lose momentum even before the recent escalation of the crisis in... 27th March 2013 · 1 min read
Europe Economics Update Cyprus: Disaster averted, but with lasting effects While the Cypriot banking package has averted imminent disaster, the episode will have damaging effects on Cyprus’s economy and has raised new questions over the stability of the currency union. 25th March 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Mar.) The fall in the composite euro-zone PMI in March suggests that even before the recent uncertainty surrounding Cyprus’ future, the euro-zone economy had begun to contract more sharply. 21st March 2013 · 1 min read
Europe Economics Update What next for Cyprus? The Cypriot Parliament’s overwhelming rejection of the proposed levy on bank deposits adds to the uncertainty surrounding the future of Cyprus and increases the risk of the country eventually exiting... 20th March 2013 · 1 min read
Global Markets Update Will there be more contagion from the crisis in Cyprus? The negative reaction in Europe’s financial markets to the decision to "bail in" depositors in Cyprus has been fairly muted so far. Admittedly, the euro fell below $1.30 against the dollar on Monday... 18th March 2013 · 1 min read
Europe Economics Update Is Cyprus really a special case? The plan to impose losses on Cypriot bank depositors has potentially serious implications for financial stability in the euro-zone as a whole. Cyprus is arguably a special case, but given remaining... 18th March 2013 · 1 min read
Europe Economics Weekly Germany likely to prevail in austerity debate Last week brought mixed news in the debate on growth versus austerity. On the one hand, EU leaders discussed and (to some extent) advocated growth policies at an EU summit. What’s more, the European... 18th March 2013 · 1 min read
Europe Data Response Euro-zone Final CPI (Feb.) & Labour Costs (Q4) The latest figures on consumer prices and labour costs in the euro-zone emphasised that the inflation outlook presents no obstacles to the provision of further policy support from the ECB. 15th March 2013 · 1 min read
Europe Economics Update What’s left in the ECB toolbox for SMEs? Reviving lending to small and medium-sized enterprises is crucial for the euro-zone’s prospects given the importance of these firms to the region, particularly in the periphery. Indeed, ECB President... 13th March 2013 · 1 min read
Europe Economics Update Is austerity working after all? Despite concerns that austerity is not working in the euro-zone, most of the region’s peripheral economies managed to reduce their budget deficits in 2012. But fiscal progress has been slower than... 13th March 2013 · 1 min read
Europe Data Response Euro-zone Industrial Production (Jan.) January’s fall in euro-zone industrial production is a timely reminder that, despite the improvement in business and financial market sentiment, the region is likely to have remained in recession in... 13th March 2013 · 1 min read
Europe Economics Update ECB hints at limited support at best While some members of the European Central Bank’s Governing Council voted for an interest rate cut today, the majority still seems unconvinced that this would do any good. What’s more, the Bank... 7th March 2013 · 1 min read
Europe Data Response Euro-zone GDP (Q4 12) The breakdown of euro-zone GDP in the fourth quarter revealed an increasingly broad-based decline. Timelier indicators still point to another contraction in GDP in Q1 despite their recent improvement. 6th March 2013 · 1 min read
Europe Data Response Euro-zone Retail Sales (Jan.) & Final PMI Survey (Feb.) January’s rise in euro-zone retail sales and the fall in the composite PMI in February add to evidence that while the recession in the region is slowing, it is not over. 5th March 2013 · 1 min read
Europe Economics Weekly Is the crisis back? Having swum against the tide of increased optimism towards the euro-zone for some months, we are wary of the temptation to leap on last week’s events in Italy as a vindication of our position. After... 4th March 2013 · 1 min read
