QE3: Buoying the GCC

The Economonitor’s QE3 week is perfect timing as we’ve been thinking a lot about the effects of the latest bouts of global monetary stimulus on the Middle East and North Africa – as summarized in part of our omnibus MENA quarterly presentation. We argue there that even though EMs and to a lesser extent frontier […]

Mr. Draghi, Mr. Arnault, and Europe’s Gordian Knot

What does the ECB bond purchase program announced by Mario Draghi last Thursday have to do with French billionaire Bernard Arnault’s application for Belgian citizenship on Saturday? Both reflect a Gordian knot at the heart of the European Union that makes relatively straightforward solutions to the crisis elusive. This Gordian knot is, in turn, the […]

ECB Will Build a Bridge…But to Where?

All eyes are on the ECB governing council meeting on August 2nd to see exactly what Mario Draghi meant last week when he pledged that the ECB would preserve the euro. The way the markets have rallied off the back of this statement, it seems that investors think that the ECB is poised to intervene […]

A Spanish Bailout? Don’t Hold Your Breath

From the guardian: It is a rule of thumb among eurozone crisis observers that the more something is denied by officials, the more likely it is to happen. With Spain’s borrowing costs at euro-area record highs, its officials insist it will not need a full bailout programme. To most of us, however, it seems no longer […]

EU Summit: Some Good Progress, But Any Game Changers?

This EU summit marked many firsts for eurozone crisis era EU summits: it was the first time Greece hasn’t been discussed in years, it was the first time Italy and Spain bonded together and it was the first time President Hollande attended an EU summit. By dinner time on Thursday, the EU summit seemed a […]

Angela’s Ashes: Could a Slowdown in German Growth Save the Euro?

Athens to Madrid: back to you Following the June 17 elections, Greece seems set to be governed by a broad, awkward coalition formed by the center-right New Democracy party, its historical rival, the center-left Pasok, and several small parties. A consequence of this electoral outcome is that Greece is less likely to exit the eurozone […]

RGE’s Arnab Das Bloomberg Video on ECB Policy, Spain Outlook

Bloomberg: Arnab Das, managing director of market research and strategy at Roubini Global Economics, talks about fiscal and political integration in Europe, Italy’s public debt levels and European Central Bank monetary policy. He speaks with Maryam Nemazee on Bloomberg Television’s “The Pulse.”  

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