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Financial regulation: Truth Vs Precision

Markets

MADRID | May 29, 2015 | By Miguel Navascués | Fortunately the case against the the preponderance of finances over the rest of the economy is gaining traction, as I recently argued here. As usual, FT’s Martin Wolf hits the mark

Markets

Money growth up sharply while Eurozone bank lending remains subdued

Barclays | The ECB’s April data on monetary aggregates and bank balance sheets show a surge in money growth, but bank lending dynamics remain subdued and the annual growth rate of loans to the private sector (adjusted for sales and securitisations) remained at 0.8%

Euro area monetary and bank credit developments
In Europe

Italian elections: Preliminary thoughts

LONDON | May 29, 2015 | By Fabio Fois (Barclays) | Given the large number of voters involved (slightly less than half those involved at last year’s European elections) and local governments contested, we believe the Italian elections represent an important test for the government and the structural reform agenda deployed so far.

Italy flag made of food
World economy

How hawkish is really the IMF on Greece?

MADRID | May 29, 2015 | By Ana FuentesGerman bund futures spiked higher on Friday after traders cited comments by IMF’s Christine Lagarde to the Frankfurter Allgemeine Zeitung that a Greek exit from the euro zone was a possibility. As Ms Lagarde’s words heated the debate worldwide, the IMF insisted the German paper mistranslated her as too hawkish on Grexit. The print version of the interview published today is slightly different (see screenshots above).

Lagarde on Grexit
In Europe

10% of Spanish households suffer from energy poverty

The Corner | May 28, 2014 | Energy poverty index tripled in Spain from 2007 to 2013. Despite the country’s better macro outlook, one out of ten households are currently struggling to heat themselves in the winter, do not own a TV set or cannot simply pay their bills, according to a report. Spain is the 4th EU country with higher electricity prices, says Eurostat.

EU electricity prices
Markets

China: caught in the trap of cautious monetary reforms

BEIJING | May 28, 2015 | By Iris Mir | China continues to struggle to avoid being swallowed by the challenges that stifle its stagnant economy while developing a new monetary policy. The IMF applauded the steps taken so far and no longer considers the RMB an undervalued currency. However China remains too cautious in its monetary reforms. Risking the country’s ambitions of further internationalize the RMB and  the joining of IMF’s cherished Special Drawing Rights Basket.

Chinese renminbi
In Europe

UK Queen’s speech launches Conservative push to legislate on EU, taxes

LONDON | May 28, 2015 | By Fabrice Montagne (Barclays) | The measures announced on Wednesday are not new but were already extensively discussed in the press or during the campaign and were mostly included in the Conservative manifesto. By making a selection and a ranking of all the possible bills, the Queen’s speech nonetheless provides necessary clarification on the government’s priorities over the next 12 months.

The UK Queen's speech