FinancialGuy Writes!

I don’t agree with the barbs being thrown – who can? – but I have one simple and rather uncomfortable question… If it weren’t for UKIP, would the Strasbourg sessions of the European Parliament ever make it into the news??? It is just such a shame that we have to see it descend to this.… » read more

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The news from Ireland is that the controversial (in other Member States at least) rate of corporation tax (12.5%) will remain. The BBC reports the full story here. It seems that chasing away the corporations that have moved to the Republic to take advantage of low tax rates isn’t an option. And that makes a… » read more

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So Ireland is taking the bailout money. It may have been inevitable, and if it was, it is better to accept the fact earlier rather than once things have become too late. But still, this is a heavy cost to all involved. As Kevin Doran writes here, this offers an excellent opportunity to other EU… » read more

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Who does this title relate to? Watch and find out!! This video is fabulous! The world of American finances, inflation, the Federal Reserve and Goldman Sachs explained. Funny and informative. [kml_flashembed movie=”http://www.youtube.com/v/PTUY16CkS-k” width=”425″ height=”350″ wmode=”transparent” /] TwitterFacebook0Linkedin

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We Must Strengthen The Euro

“We must strengthen the euro” were the closing words of Josef Ackermann, CEO of Deutsche Bank, yesterday in Brussels. “Our competition is the big trading blocks”, thinking of the USA, China, etc, “and to compete we need to find European answers”. Minutes later he was backed up by Dr Jorg Asmussen, State Secretary at the… » read more

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Information just published by Eurostat (discussed here) suggests what we all already know. The government finances of the EU are in a right old mess (that is a technical term used in financial circles – other such terms include ‘buggered’ and ‘up s*%t creek without a paddle’). The problem – to my mind at least… » read more

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Its all getting very serious now to my eyes. This story from CNN via the FT, suggests that debt markets are pricing in debt defaults in Greece, Italy and Portugal. The FT has been saying for weeks that Greece will default – it is a matter of when, not if – and it seems that… » read more

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A Return To A Gold Standard?

I have been wondering for MONTHS – nearly years – when someone of real influence and clout would recommend that the world needs to revert to a gold standard of some form. Finally it has happened! The question now is what will it take for the idea to be taken more seriously by politicians around… » read more

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In a number of recent posts (here, here and here), I have written about the borrowing woes of eurozone members. Happily, after some presumably hardcore politicking, Portugal has passed their austerity measures package. One can only imagine the bargaining and dealmaking that it took to get that through behind the scenes. Having threatened to quit… » read more

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Financialguy found himself interviewing Commissioner Janusz Lewandowski and Committee of the Regions President Mercedes Bresso this morning. I had only gone to listen rather than to ask, so I fear that the opportunity was rather wasted by my lack of preparation. Wasted opportunities aside, there were some interesting points at this CoR event. What is… » read more

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In yesterday’s post about the stability of the euro I didn’t mention anything said by Commissioner Rehn. For my money, lots of the proposals are too little too late and will have very little benefit in the coming economic climate. For example, the idea that automatic penalties may be applied to euro members that do… » read more

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In my first post about last weeks EUREKA financing innovation lunch in the European Parliament, I made the point that things seemed to be confused. But that wasn’t the whole story. On my table I was fortunate to sit next to an Israeli gentleman. Lets call him Harry, since it is his name. I made… » read more

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On Tuesday this week your author attended a lunchtime debate in the European Parliament hosted by EUREKA as a part of the Innovation Summit. For me at least, the conclusion was something of a muddle. During lunch, each table was asked to debate a part of the innovation and financing topic. Possibly interesting stuff then.… » read more

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Over the last few months, your author has made occassional musings that the regulatory stance of governments trying to deal with the aftermath of the financial crisis might be in vain. Lets be clear, it is the job of law makers to make laws. But sooner or later someone needs to enforce those rules. As… » read more

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When Is A Fine Not A Fine?

Jerome Kerviel has just been convicted and sentenced in Paris. Mr Kerviel was the trader at the centre of the Societe Generale wobble in January 2008. This was the event that provided the first hints that things going wrong in the US might hit Europe. Of course, it was completely unrelated, but we didn’t know… » read more

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From The Weak To The Strong

I have been a believer for some years that the balance of financial power in the world has been shifting from the weak to the strong. When I say weak, I mean central banks and western politicians. When I say strong, I mean private individuals that have decided that enough debt is enough, and want… » read more

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Over the last few months, reading the press reports of proposed EU measures to shore up the financial services sector has had me totally muddled. And not because I am confused… In posts earlier in the year (here I muse that we don’t need more FS regulations, simply to enforce the current ones more effectively… » read more

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As we now all know, the EU banks mostly passed their ‘stress tests’ with flying colours. But now there are calls for more. Should there be? The first round of stress tests struck me as odd. I have read repeatedly that US banks (which of course European ones have been modelling) had expanded their financial… » read more

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Over the last few months, I have had the good fortune to take a number of flights to interesting places. From Brussels to Berlin, Frankfurt, Rome, Prague, Lisbon and Edinburgh and a few connecting flights after. All good fun. But something seems wrong. Not wrong perhaps, but different. I can clearly recall in the days… » read more

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