MADRID | By Julia Pastor | Most of these third-country workers in the EU find a job in the agriculture and tourism sectors, but the labour market segmentation divides them into first and second class.
“The eurozone must find economic growth without State aid”
MADRID | By Tania Suárez | Director of financial analysis at Profim EAFI, Jose Maria Luna Morales, argues that austerity measures in the euro zone were “necessary” but adds that “some privileges of many public institutions can still be reduced”. He also notes that although “Europe still may suffer months of stagnation”, that does not imply “a long period of stagnation’” for the EZ as a whole.
The US fear Europe’s austericide
As anger and despair over austerity spread in Europe, more US analysts are expressing their solidarity towards protesters and skepticism towards policy makers. A turning point was IMF’s shift, saying that tax hikes and spending cuts causing far more economic damage than experts had assumed.
Mainstream Renewable Power plugs Canadian investors
Mainstream Renewable Power, the global solar and wind energy company, announced it is successfully tapping credit lines to increase its capital base. Mainstream, which is Europe’s leading independent offshore wind developer, signed this week a corporate facility for up to €60 million provided by Macquarie Group. According to the terms of the transaction, Mainstream will receive an initial [...]
Banking union: the new battleground for Europe
As European financial crisis enters a critical stage, should the ECB have the power to supervise all euro zone banks as well as those in non-euro zone countries that choose to become part of a single mechanism or shall it focus on monitoring only the big, systemic banks instead? European commissioner for economic and monetary [...]
After EBC’s meeting, Portuguese bailout (JP Morgan)
By Tania Suárez, Madrid | Global growth will remain below trend until later this year, according to JP Morgan expectations. Rates have dropped less than 50bp from their peaks in 2011 and are projected to fall further 20bp until late 2012. Developed markets authorities believe that “the limit of zero interest rates has eliminated the [...]
China urges Europe to work on its debt
China is willing to help, but everyone has limits. Premier Wen Jiabao told visiting German Chancellor Angela Merkel at a state visit in Beijing on Thursday that Beijing plans to continue buying European sovereign debt, the strongest sign of support for its biggest trading partner in months, although it urged further measures to be taken. [...]
“Europeans are not productive enough to defend their living standards”
Famous for his provocative views on international economics and China’s rise, Andy Xie is an independent economist who predicted the Asian bubble in 1997. Based in Shanghai, he is a former Morgan Stanley star chief Asia-Pacific analyst. We interviewed him for our summer interviews on China’s challenges, the eurodrama and his forecast for the future. [...]
Will the end of summer stir the market?
By Matt Bolduc, equity analyst at Saxo Bank | via tradingfloor.com | The performance discrepancy between US and European stocks seems to be rapidly closing with the Stoxx 50 gaining more than 10 percent in the past month versus 4 percent for the S&P500. And while the S&P has been a strong performer, Europe is finally [...]
“Contraction and austerity combined are an extremely dangerous mix for Spain”
Morning! Today we bring you the last part of our summer series interview with Professor of Economics at Columbia University Martin Uribe. He believes that the Eurozone needs structural changes to tackle the crisis, especially in fiscal matters. The lesson we should learn from this crisis is to avoid high capital inflows into a country [...]
