Today Pimco investors withdraw record sum after Gross departure (BBC)
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Euro fears deflation

Losing patience with the ECB

In Europe

MADRID | The Corner Team | Investors are most likely to hear the ECB repeat (again) how prepared it is to act and use all kind of unconventional devices on next Thursday meeting, after inflation in the euro zone fell to 0.7% in December, its lowest level since the common currency was born. “As fears of  deflation increases, the central bank cannot remain unable to act,” analysts say.

Icelandic miracle
World economy

Iceland pre-and post-collapse capital controls and the on-going blame game on who is blocking their abolition

LONDON | By via Sigrún Davíðsdóttir’s Icelog | So far, there is no solution in sight in matters that need to be solved in order to abolish capital controls in Iceland. The government blames creditor of the estates of Glitnir and Kaupthing but unresolved dispute in Landsbanki matters as well though hardly ever mentioned. The government seems to play a waiting game, perhaps to make creditors more forthcoming. Ministers maintain the government cannot interfere in a process of private companies and yet they seem to be contemplating interfering via laws, which would directly expose the government to being sued by creditors. The creditors mostly remain silent but might have more cards up their sleeves than the government seems to believe.

Greece's accounts
In Europe

Greece: It’s not the distance; it’s the load you carry

ATHENS | By Yiannis Mouzakis via Macropolis| It is beyond any doubt that what Greece has achieved fiscally over the last few years is phenomenal. A primary deficit that at the end of 2009 stood at 24.2 billion euros has been wiped out within just four years and has been turned into a small primary surplus, irrespective of any objections one might have about its size and how it was achieved.

In Spain

Santander, BBVA and Caixabank In the Spotlight After Increasing Profits- Although By Less Than Expected

MADRID | The Corner Team | Three Spanish financial institutions set the example of the country’s incipient recovery just after the banking bailout program came to a clean end: Santander gained 90% more than last year; Caixabank, 118% and BBVA, 30%.

In Spain

Spain’s Growth Accelerates, Job Creation Not Quite Yet

MADRID | By  The Corner Team | Spain’s GDP expanded 0.3 percent in the quarter ended Dec. 31 from the previous three months. For the first time since 2011, the euro region’s fourth largest economy’s growth increased for a second straight quarter, according to official estimates. Market makers are underlying their faith on this new-found economic momentum, and their trust comes as fresh air for the government, who predicted a faster rate recoverty than initially expected. Still, job creation needs to pick up from a depressing 26%.

World economy

U.S.: It’s Time to Raise Wages

WASHINGTON | By Alan Smith via The Next New Deal | Anchor institutions like universities and hospitals have the power to establish a living wage and a stronger economy. President Obama plans to sign an executive order requiring workers under federal contractors to be paid at least $10.10 per hour. This move was be a key point in Tuesday’s State of the Union, and folks across the United States will benefit in very real ways. [NOTE: Temporal references have been edited since the piece was written on Monday.]

Bolsas emergentes
World economy

Not all emerging countries are the same

MADRID | By Francisco López | Argentina’s devaluation contagion pulled downwards such different assets as Brazil Stock Exchange, Argentinian or South African currency , or even Indonesia’s bonds. In Spain, the Ibex fell again by 1.1% losing 6.7% points in just six days, which means its hardest time in past twelve months. When panic spreads, investors do not consider each countries’ economic circumstaces individually.