The news of Spanish banks reducing ECB credit use fits within the more attractive frame European banks sit now in. Stock returns have outdone market average by 44 percent since July 2012.
Shopping in Europe
NEW YORK | While European companies and banks try to forget this annus horribilis, some US financial firms are rubbing their hands: under pressure from regulators, Europeans will have to shed up to $3 trillion in assets over the next 18 months, according to Morgan Stanley. Market dislocation on this side of the Atlantic means [...]
Ms Lagarde is right (even though the ECB would rather turn a blind eye)
By Miguel Navascués, in Madrid | There has always been tension between the IMF and those countries under its analysis over the numbers in the fund’s economic forecasts. But this time the battle between the IMF’s Ms Lagarde and the European authorities has been set over valuations of sovereign bonds held by the banks. According to Lagarde, [...]
