Over the past few days, Mario Draghi gave a fascinating speech in Washington on the future, indicating a path that would allow Europe to understand new developments and govern them. The hope is to see him at the head of the EU after the elections in…
The hypothesis of a Eurobond on energy and defense first deludes and then partially extinguishes the enthusiasm of the Stock Exchanges: is it reality or a fantasy? Milan in clear recovery
Europe is preparing to launch a defense and energy Eurobond and reduce our dependence on Moscow as Biden announced the embargo on Russian gas and oil, also shared by the UK
The stock market rebounds driven by European bonds linked to defense and energy. Banks and finance go up again, the spread falls. But Europe will lose ground to Wall Street, that's why
While waiting for the Fed's decisions, the US Stock Exchanges collect the new IPO record, while the EU celebrates the shower of orders for the first Eurobond to finance the Recovery Plan - Oil again at the top - Luxury on…
Between tonight and tomorrow the Fed meeting which the markets are watching with great attention - Success of the first Eurobond and historic truce in the war in the skies between Airbus and Boeing - In July the ECB decision on…
The first tranche of the Recovery Fund is up for auction: the 2031-year bond maturing in 10 which will be used to finance the European recovery. The offer is XNUMX billion, yields at a discount. Green light to the extension of the Gacs
Nasdaq and stock exchanges at highs, also driven by oil - All the spotlights on the Fed - T-bonds and BTPs with declining yields - Today the first tranche of Eurobonds
Eurobonds for 2026 billion will be launched by 800 - If the go-ahead from the States arrives in time, it will be possible to leave in July - But the sentence of the German constitutional judges is pending on the procedure
During the briefing to the Senate, the Premier announced the arrival of a new decree of at least 50 billion to support businesses and families - On the Mes without conditions: "Italy needs more, but refusing would be doing an injustice to…
The European Movement considers the answers provided so far by the EU to combat the coronavirus emergency to be insufficient and proposes a common plan worth 2 trillion based on four principles
HOT REPORT BY LUISS SCHOOL OF EUROPEAN POLITICAL ECONOMY - The political clash risks having worse effects on the Italian economy than the Coronavirus despite Italy already having the resources to face the health crisis and for a gradual recovery of activity…
After weeks of confrontation, Europe reaches an initial agreement on economic aid: 500 billion to counter the recession. But ambiguities remain on crucial points that only the heads of state and government will try to overcome next week
While waiting for the EU to resolve the ambiguities of the compromise reached in the Eurogroup, no one has so far noticed that for 2020 the ECB has promised to buy 1.050 billion euros of European bonds, which in fact are equivalent to Eurobonds…
Holland puts its foot down and Eurozone ministers are unable to agree on anti-crisis measures - Holland also intransigent on the Mes, but Italy insists - France slides towards Germany
After Wednesday's surge, the price of oil falls and the markets wonder about the real state of relations between the Saudis and the Russians - Uncertainty weighs on the European and US stock exchanges: negative futures - The EU is moving but Commerz…
Betting everything in Europe on the only option of Coronabonds reveals the political weakness of the premier, who fears the destabilizing convergence between the Lega and the Five Stars, and clouds the confrontation on a real plan to relaunch the national economy
Hard clash between 9 countries (including Italy) and the Nordics, for now covered by Germany - Conte's ultimatum: "Agreement in 10 days or we can do it alone, but no austerity"
The Italian premier together with the leaders of eight other countries sends a letter to the European Council to ask for the creation of coronabonds in order to deal with the crisis caused by the Coronavirus - Lagarde in favour, but Germany decisive
The Mediterranean countries ask to cancel the "conditionalities" for access to the State-saving Fund, but the Northern front opposes - Eurogroup also stalled on Coronabonds - The word passes to the Council of Europe, where mediation is possible
Almost all Asian stock exchanges are in sharp decline, while futures herald a storm in the West too - Goldman Sachs forecasts a 24% drop in US GDP in the second quarter - Battle over Coronabonds in the Eurogroup today
After the ECB bazooka, another step forward for Europe against the Coronavirus: stop to the Stability Pact and open negotiations on Mes funds and on the launch of Eurobonds
European stocks gallop and try to recover the losses of the week - Positive expectation for Wall Street - Enel in evidence. Eni and Saipem recover - Galoppa Diasorin
Conte and Macron propose Coronavirus Bonds: Holland closes, but Germany does not - There is also talk of involving the State Rescue Fund (MES), perhaps in coordination with the ECB
Working lunch in Rome between the leaders of Italy and Germany, and then a press conference at Palazzo Chigi: immigration above all on the table - "Libyan is not an emergency - said Renzi - but this does not mean that…
The parties that are preparing to form the new "grosse koalition" have decided to oppose both the project for Eurobonds and the one for the public debt redemption fund: every state in the eurozone must continue ...
The fight against tax evasion is essential but not enough to revive the economy - On the other hand, coordinated initiatives at European level are decisive to create purchasing power by offsetting national austerity - The idea of Eurobonds in exchange for halving VAT at the level European.
If the differential with the German Bunds does not decrease, in the eyes of the citizens the political goodness of the Government is questioned - "A new electoral law would reassure Italy's future prospects" - Monti insists on Eurobonds, but agrees with…
Economist Friedrich Heinemann suggests setting up a fund called Fire - Only the member states of the monetary union with low yields would contribute but only temporarily and for a limited amount - The goal once again is to bring interest rates back …
Germany is willing to open up on the issue of Eurobonds, i.e. on the mutualisation of the sovereign debt of the Eurozone countries, but only if there is a European "zar" to supervise the public finances of the 16 eurozone countries - Thus the …
In her speech to the Bundestag, Merkel addresses the crisis in the Eurozone: "There is no easy solution, we need to intervene on the causes of the problems" - "Germany's economic power is not infinite" - Eurobonds are rejected again: "Counterproductive and wrong".
During the meeting of finance ministers held yesterday evening in Paris, the German representative Wolfgang Schaeuble said he was willing to discuss the proposal by Italian premier Mario Monti at the G20 - The goal is to reduce…
Mistrust of the forthcoming European summit pushes investors to sell: price lists all in red with Piazza Affari wearing a black jersey - The bank crash is decisive: Unicredit and Bpm lose more than 8%, Mps 7%, Intesa and Banco Popolare more…
In view of the EU Council to be held on 28 and 29 June, the chancellor cuts off the debate on any form of debt mutualisation in the Eurozone - And the stock markets are plummeting.
Pressured on Eurobonds by the French, Italians and Spaniards, Germany relaunches: a commissioner or an agency of the euro area to directly manage the public finances of undisciplined countries - This is the proposal by Jens Weidmann, powerful head of the Bundesbank - Before…
"I will not let myself be convinced by quick solutions such as Eurobonds - the German Chancellor said polemically - mediocrity must not become the standard".
"To have European institutions able to supervise banks better, it is necessary to give up national supervision" - But the German chancellor reiterates her no to the introduction of Eurobonds: "It's like putting the cart before the horse" - The…
Banking union with a common fund to save the banks, fiscal union with Eurobonds and greater powers of Brussels on national budgets, welfare reforms and new harmony in economic and fiscal policies: this is the plan being studied by…
Contrasting macro data from America but the rise in the manufacturing index gives Wall Street a boost and infects the European stock exchanges: Paris and Frankfurt run while Milan is satisfied with a modest +0,38% - In Piazza Affari the collapse of Bpm weighs …
But the countries of the euro area must "trust one another" - This was stated by the EU commissioner for the Internal Market who recalled the importance of fiscal discipline which should go hand in hand with growth.
"The debate is becoming irritating: every month the ingenious idea of the moment pops up to solve the crisis, yet not even in France, which so much invokes project bonds, the question is tackled with full awareness": the harsh interview given to Le Monde…
"The risk of deposit withdrawals would increase" and confidence in the economic environment would be ruined for a long time - As for Eurobonds, Kraemer does not believe that "they can play a decisive role in resolving the crisis".
The differential between the Italian BTPs and the German Bunds reached a minimum of 397 points in the morning, but then stabilized at 405, in any case more than 10 points less than the opening value - Net…
Monti says that when the time is ripe we will get to Eurobonds and the markets are applauding: European lists are all positive and Piazza Affari gains 1,1% after yesterday's beating - Sparks from Fiat, Exor, Snam and Enel - Banks in…
The premier: "Everything that will serve to strengthen the preparation of European countries for their future through an intense activity of profitable investments will be encouraged by Italy".
"Greece remains in the euro" say the European leaders at the Brussels summit but the stop on Eurobonds for the German opposition sows mistrust - Wall Street has recovered in view of a possible new liquidity operation in the summer -…
The prime ministers of Italy and France have insisted on the need to issue Eurobonds and to use structural funds - The German chancellor continues on his rigorous line - But Draghi warns: "European bonds only after the fiscal union, otherwise no…
This evening a summit in Brussels: the representatives of European governments will discuss Eurobonds, the growth compact and the Greek question - Meanwhile, yesterday the Austrian Chancellor Faymann took the side of Eurobonds, while over 60% of Europeans li…
The banks are dragging down Piazza Affari, which loses 3% in the middle of the day - Markets throughout Europe in tension in view of tonight's EU summit, from which decisive interventions are expected on Greece, Spain and the Eurobonds -…
Milan loses almost three points in mid-morning, black jersey in Europe - Except for Germany, everyone is hoping for the launch of Eurobonds to support growth in Europe - The Chinese sovereign wealth fund warns - Intesa and Unicredit out…
As for Eurobonds, according to the CEO of Generali "they are certainly a positive hypothesis, if however they are an expression of greater integration and unity" - Denial of interest in the assets that the Aviva group has put up for sale: "We are not looking at anything ".
"They would be a very important asset for us and we consider it one of our crisis response tools," said Amadeu Altafaj, spokesman for the European Commissioner for Economic and Monetary Affairs, Olli Rehn.
Barack Obama managed to leverage the newly elected François Hollande and the Italian premier Mario Monti to remind Europe of the duty of growth to be accompanied by rigor - The French President will certify the isolation of the German chancellor on Wednesday at the summit…
In Europe we continue to discuss Eurobonds, forms of financing for the States guaranteed by the EU umbrella. Member States are pressing for their issuance. But Angela Merkel does not give an inch. Meanwhile, economists are looking for workable solutions and…
The chancellor before the Bundestag rejects the hypothesis of EU bonds: "There are no miraculous instruments" - "The debt brake and growth are the two pillars".
The leaders of the European Union will meet for an informal dinner to discuss growth - The formal decisions, however, will only arrive with the summit of 28 and 29 June, also on the subject of project bonds.
Document from the House Budget Committee: "The Union under stress, without a strategy, has responded only by limiting the damage".
International Monetary Fund chief economist Olivier Blanchard talks about Eurobonds in an interview with the Financial Times Deutschland - "Now we have the Fiscal Pact and the Germans should accept that the Eurozone goes the Eurobond route"- The joint bonds…
The president of the European Central Bank, interviewed by a German newspaper, applauds the fiscal compact and momentarily holds back on Eurobonds - "No to a Europe where a few countries pay for everyone, first create a climate of confidence".
A resolution was approved in Strasbourg to ask the EU executive to "make rapid progress" with all the tools needed to get out of the crisis, Eurobonds included.
Martin Schulz, number one of the European Parliament, is also on the same line as the president of the European Council.
Community titles are back in the limelight. This was announced by the EU Commission after today's summit: "We have reached an agreement for the trial, but any final decision will be postponed to March".
Troubled intervention in the Senate, where the Premier reported on the EU council of last December 8 and 9 - Strong protests from the benches of the League and session suspended by Schifani.
"There are still no conditions in the eurozone for issuing Eurobonds," said Eurogroup president Jean-Claude Juncker, adding: "It could take years, before an EU fiscal union is needed"
In her speech to the Bundestag, Chancellor Angela Merkel reiterated Germany's substantial opposition to Eurobonds, but was open to fiscal union. An eye for Italy: "It is experiencing great changes, the future of the eurozone depends on it"
From anti-crisis measures to the first report on Italy, from the State-saving Fund to the revision of the treaties: this week Europe will have to untie fundamental issues for its future - We start tomorrow with the Eurogroup, then it will be the turn of the Ecofin - We will also talk about…
Germany is no longer granite and in the world of politics, business, finance and culture, voices are growing that push the Chancellor to overcome ambiguities and closures and to embrace Eurobonds and recognize the ECB as…
The European commissioner for the internal market, heard in the joint commissions for Industry, Finance and EU policies of the Chamber and Senate: the Monti government has "two qualities we need: discipline and determination".
Milan, which previously gained more than 2%, is now down - Strong disappointment after the Strasbourg summit between Monti, Merkel and Sarkozy - No strong signals have emerged for short-term management from…
The Prime Minister confirmed the balanced budget in 2013 and the consolidation of the public finances in the short term - Merkel: "Eurobonds are not necessary" - Monti: "Fiscal union first" - Priority to the stability of the euro and the eurozone -…
In Strasbourg, after the meeting with Sarkozy and Monti, the chancellor stresses that Eurobonds "are not necessary" - European stock markets remain positive, but give ground - After the shock of the Bund auction deserted by big buyers, it was expected …
The Portuguese: "We believe that the creation of a common bond market could bring great benefits to the EU" - "Considering this move of ours as an act against some government of a member country would be absurd" - There are three areas under study…
The chancellor continues to block the way for Eurobonds and the possibility of the ECB becoming lender of last resort - The markets are nervous: Milan is down by more than one point - Waiting for a series of macroeconomic data in…
Before the Bundestag, Angela Merkel does not spare a critical judgment on the Eurobond plan of the European Commission, which however has yet to be officially presented by President Josè Manuel Barroso. Doubts also as to whether Greece is eligible to receive…
The Btp-Bund differential jumped this morning to 505 bps, to then drop below the 500 threshold - Piazza Affari too, on the roller coaster, returned to red at the end of the morning - German intransigence puts the euro in crisis and aggravates the crisis …
According to the German chancellor, "political solutions" are needed to get out of the crisis: debt reduction measures at national level and consolidation of accounts and at European level. And then "rapid" changes to the Community treaties.
The 'stability bond plan' envisages several possible paths: common guarantees and total replacement of national bonds, coexistence of the various bonds with modifications to the mandates, community bonds guaranteed by individual states in proportion to their participation - From…
According to the German newspaper Frankfurter Allgemeine Zeitung, the Eurotower has set a limit of 20 billion for the purchase of government bonds - The ECB does not deny it - Since mid-September it has never spent more than 10 billion euros a week.
The president of Bocconi today underlined how it is Germany that has to be convinced of the need for community qualifications - Meanwhile, Italy is not growing, while Berlusconi and Tremonti "do not work in unison".
From Luxembourg's Ecofin, the Economy Minister defends Italy: "It is one of the few countries with a primary surplus" - "The Spanish spread is lower because Zapatero has announced the elections" - "Eurobonds need governance stronger European".
The proposal put forward on FIRSTonline by Francesco Marchionne and aimed at linking Eurobonds to a reclassification of debt according to riskiness is a good starting point - It is also essential to use European bonds according to…
Before the European Parliament, however, the president of the EU commission explained that EU bonds "would not be a panacea", but only "an element of a broader approach towards further political and economic integration" - Also announced the introduction…
The idea of making Eurobonds flexible by anchoring them to three different tranches of public debt (red, green and yellow) depending on the risk profile is difficult to implement but is theoretically interesting and deserves further study
On the Lavoce.info website, the general manager of Assonime reflects on the reasons for the crisis and the strategies needed to counter it, on the role of the ECB and the new bailout fund and on the Eurobond hypothesis
